Answer:
SCC won't pay any tax
Explanation:
Their loss of $30,000 in year 1 will be unused and made available to counterbalance the total generated earnings in year 2.
The $20,000 earnings in year 2 can be used to counterbalance the whole taxable income; so, SCC will not pay pay tax. SCC will have a ($10,000) loss carryover available for year 3 and beyond
Answer:
Cash received from customers is $90,025 million
Cash paid to suppliers is $72,128 million
Explanation:
Cash received from customers is the net sales of $91,758 million minus the increase in accounts receivable since that is the portion of revenue yet to be received.
cash received from customers=$91,758 million-$1,733 million=$90,025 million
cash paid to suppliers is the cost of goods sold of $69,278 million plus the increase in inventory as well as the increase in accounts payable
cash paid to suppliers=$69,278 million+$883 million+$1,967 million=$72,128 million
If the cutting edge sells ice skates. total sales are $845,000, total variable expenses are $245,050 and total fixed expenses are $302,000. the variable expense ratio is: 29%.
<h3>Variable expense ratio</h3>
Using this formula
Variable expense ratio=Total variable expense /Total sales
Let plug in the formula
Variable expense ratio=$245,050/ $845,000
Variable expense ratio=0.29×100
Variable expense ratio=29%
Therefore If the cutting edge sells ice skates. total sales are $845,000, total variable expenses are $245,050 and total fixed expenses are $302,000. the variable expense ratio is: 29%.
Learn more about variable expense ratio here:brainly.com/question/24161829
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Answer:
What is the amount of Supplies Expense that AllTech Corporation will recognize for the year?
$1050
Explanation:
Beggining of the year 1800
Purchased 1150
End of the year 1900
Expenses 1050
end = beg+purtcahse-expense
expense=beg+purchases-end
expense=1050
Answer: the correct answer is a. working capital 225000.00 before issuing the note and 185000.00 after issuing the note. b current ratio 1.82 before the note and 1.59 after the note.
Explanation: Working capital = Current assets - Current liabilities
500000.00 - 275000.00 = 225000.00 before issuing a short term note
the short term note is a current liability.
500000.00 - 315000.00 = 185000.00 after issuing a short term note
Using the Balance Sheet, the current ratio is calculated by dividing current assets by current liabilities: For example, if a company's current assets are $ 5,000 and its current liabilities are $ 2,000, then its current ratio is 2.5.
500000.00 / 275000.00 = 1.82 before issuing the note
500000 / (275000 plus 40000) =
500000 / 315000 = 1.59 after issuing the note.
