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3 years ago

The following accounts and balances were drawn from the records of Barker Company at December 31, Year 2:

Business

1 answer:

spayn [35]3 years ago

5 0

The Income Statement is $18,500

Construction of Baker income statement

Revenue

Service Revenue $65,200

Total Revenue $65,200

Expenses

Other operating expenses $41,000

Supplies Expense $1,100

Insurance expense $2,100

Rent Expense $2,500

Total Expenses $46,700

Net Income $18,500

($65,200-$46,700)

Inconclusion the Income Statement is $18,500

Learn more about Income statement here:

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Bradford Company derived the following cost relationship from a regression analysis of its monthly manufacturing overhead cost:

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Answer:

Bradford's estimated variable manufacturing overhead cost is $127,200

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The cost function=$83,000+$12M

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3 years ago

What is credit risk management?

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3 years ago

Isabel, a calendar-year taxpayer, uses the cash method of accounting for her sole proprietorship. In late December she received

aleksley [76]

Answer:

A. $11,970

B. $11,890

C. January

Explanation:

a. Calculation for the after-tax cost if Isabel pays the $19,000 bill in December

After-tax cost=$19,000 - ($19,000 x 37%)

After-tax cost= $19,000 - $7,030

After-tax cost= $11,970

Therefore the after-tax cost if Isabel pays the $19,000 bill in December will be $11,970

b. Calculation for the after-tax cost if Isabel pays the $19,000 bill in January

First step is to calculate the cost before taxes

Cost before taxes = $19,000 - ($19,000 x 8%/12) Cost before taxes= $19,000 - $127

Cost before taxes= $18,873

Now let calculate the After-tax cost

After-tax cost = $18,873 - ($18,873 x 37%)

After-tax cost= $18,873 - $6,983

After-tax cost = $11,890

Therefore the after-tax cost if Isabel pays the $19,000 bill in January will be $11,890

c. Based on the above calculation for both a and b, Isabel should pay the amount of $19,000 bill in January reason that it has the lowest cost of debt of the amount of $11,890 compare to December which has the cost of debt of the amount of $11,970.

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2 years ago