Answer:
$40,000
Explanation:
Given that,
EBIT = $538,000
Interest expense = $63,000
Net income = $435,000
EBT = EBIT - Interest expense
= $538,000 - $63,000
= $475,000
Tax reported in Income statement:
= EBT - Net income
= $475,000 - $435,000
= $40,000
Therefore, the 2018 taxes reported on the income statement is $40,000.
Outsourcing of jobs causes product possibilities to expand as they carry out their work or company into having it outside rather than indoor or at home in a way of expanding their functions and their company to be able to make their company known and tackle different circumstances or dimensions that will greatly affect their company.
A. True
Btw that's a picture of me.
Answer:
D. Cash is debited $5,000; capital is credited $5,000.
Explanation:
The action by Mr. Peabody will increase both cash and capital accounts by $5000 each. As per the accounting equation,( Assets = owners equity + liabilities) cash and capital are on the opposites sides. Cash is an asset, while capital is equity.
An increase in an asset is a debit, while an increase in capital is credited. In this case, the cash account will be debited by $5000, while the same amount will credit the capital account.
