Income before tax is the income that is before it has been taxed or before applying deduction.
<u>Explanation:</u>
An individual or organization's salary before taxes and deductions is before tax income for that company, organisation or for a single individual.
For singular pay, it is determined as the person's wages or pay, venture and resource gratefulness, and the sum produced using some other wellspring of pay. In an organization, it is determined as incomes less costs.
From the amount of capital that the graduates had, the firms economic depreciation would be $10000
<h3>How to solve for the economic depreciation of the firm</h3>
Original cost of the capital - market value of capital after a year
= $30000 - $20000
= $10000
<h3>How to solve for the partnership costs</h3>
This is the Cost of capital plus cost of office space and cost of interest = $44,520
<h3>How to solve for economic profit</h3>
Total revenue - partnership cost
100000 - 44520
= $55,480
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Answer:
Explanation:
The computation of expense amount is shown below:
= Expenses - adjusted prepaid expense + adjusted accrued expense
= $35,200 - $500 - $450
= $34,250
The adjusted prepaid expense is computed by
= Ending balance of prepaid expense - beginning balance of prepaid expense
= $1,800 - $1,300
= $500
And, the The adjusted accrued expense is computed by
= Ending balance of accrued expense - beginning balance of accrued expense
= $1,200 - $1,650
= -$450
Answer:
The asset turnover is 1.44 and return on assets is 0.37%
Explanation:
Average Total assets
Assets in the beginning $24,590
Assets at the end $23,300
Average assets $23945
Sales $34,450
Divide: Average assets $23945
Assets turnover ratio 1.44
Net Income $89
Divide: Average assets $23945
Return on assets 0.37%
Therefore, The asset turnover is 1.44 and return on assets is 0.37%
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