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nika2105 [10]
2 years ago
9

What describes a lease provision that gives the tenant the right to extend the lease for an additional period of time and sets f

orth the terms for the renewed lease
Business
1 answer:
photoshop1234 [79]2 years ago
5 0

Answer:

that;s

Explanation:

a lotta of homework-

You might be interested in
Yolanda is a cash basis taxpayer with the following transactions during the year: Cash received from sale of products $66,000 Ca
riadik2000 [5.3K]

Answer:

$23,500

Explanation:

Net income is arrived at by deducting relevant expenses for the year from the gross income for the year. In this question, sales income is used to represent gross income. The net income can therefore be calculated as follows:

Net Income = Sales income - Expenses other than rent and interest - Rent - Interest

Net Income = $66,000 - $40,000 - [$45,000 × (1/18)] - 0

                    = $66,000 - $40,000 - $2,500 - 0

                    = $23,500

Therefore, net income is Yolanda's net income $23,500.

Note that [$45,000 × (1/18)] is used to calculate rent for only one which is December of the calendar year since the rent was paid for 18 months.

8 0
3 years ago
During the year, the Senbet Discount Tire Company had gross sales of $1.24 million. The company’s cost of goods sold and selling
Afina-wow [57]

Answer:

Net income= $139,755

Operating cash flow= $346,835

Explanation:

Senbet discount tire company has a gross sale of $1.24 million

The cost of goods sold is $593,000

The selling expense is $246,000

The company has a note payable of $850,000 with an interest rate of 5%

Depreciation is $123,000

Tax rate is 23%

(a) Inorder to calculate the tax expense the first step is to find the interest

Interest= debt×interest rate

= $850,000×5/100

= 850,000×0.05

= 42,500

Therefore, the net income can be calculated as follows

= (sales-cost of goods sold-selling expense-depreciation-interest)(1-tax rate)

=( $593,000-$246,000-$123,000-42,500)(1-0.23)

= 181,500×0.77

= $139,755

(b) Inorder to calculate the operating cash flow the first step is to find the tax expense

Tax expense= (gross sales-cost of goods sold-selling expense-depreciation-interest)× tax

($1,240,000-$593,000-$246,000-$123,000-42,500)×0.23

= $235,500×0.23

= $54,165

Therefore, the operating cash flow can be calculated as follows

= gross sales-cost of goods sold-selling expense-depreciation-tax expense+depreciation

=$1,240,000-$593,000-$246,000-$123,000-$54,165+$123,000

= $346,835

Hence the net income is $139,755 and the operating cash flow is $346,835

4 0
3 years ago
Today's trend is to expand the span of control because: Multiple select question. empowerment increases costs and reduces profit
Ad libitum [116K]

It is important to expand the span of control because

  • the workforce is better educated at all levels.
  • organizations save by reducing the number of middle managers.

<h3>What is a span of control?</h3>

Span of control simply means a key element in the structure of an organization.

In this case, it is vital to expand the span of control because the workforce is better educated at all levels and organizations save by reducing the number of middle managers.

Learn more about span of control on:

brainly.com/question/26102029

8 0
2 years ago
Suppose Nike, Inc. reported the following plant assets and intangible assets for the year ended May 31, 2022 (in millions): othe
lorasvet [3.4K]

Answer:

Nike, Inc.

NIKE, INC.

Partial Balance Sheet as of May 31, 2022

Long-term Assets:

Tangible assets:

Land                                                           $240.0

Buildings                                   $970.0

Machinery and equipment   $2,080.0

Other plant assets                   $977.0

Accumulated depreciation  ($2,180)        1,847.0

Total net book value                             $2,087.0                      

Patents and trademarks (at cost)           $500.0

Goodwill (at cost)                                    $220.0

Accumulated amortization                      ($60.0)

Total net book value                              $660.0

Total long-term assets                        $2,747.0

Explanation:

a) Data and Calculations:

Plant assets and intangible assets for the year ended May 31, 2022 (in millions):

Other plant assets $977.0

Land $240.0

Patents and trademarks (at cost) $500.0

Machinery and equipment $2,080.0

Buildings $970.0

Goodwill (at cost) $220.0

Accumulated amortization $60.0

Accumulated depreciation $2,180

b) Long-term assets are non-current resources that the entity owns as a result of past events, which are expected to generate future benefits.  Some long-term assets have physical properties.  They can be touched or seen.  They are tangible assets and are subject to depreciation.  Intangible assets do not have physical substance and are amortized.

8 0
3 years ago
EA7.
Vlad1618 [11]

Answer:

Overhead Rate based on:

Direct labor hours: $12.5 per labor hour

Direct labor expense: 50% of labor cost e.g. $0.5 for every dollar of labor cost

Machine hours: $7.5 per machine hour

Explanation:

Overhead rate is calculated by dividing the total estimated manufacturing overhead to the relevant activity base selected e.g. machine hours, labor hours, labor cost etc.

Overhead rates are calculated for different bases are as follows:

Direct labor hours: $750,000 / 60,000 = $12.5 per hour

Direct labor Expense: $750,000 / 1,500,00 = 50% ($0.5 for every dollar cost of direct labor)

Machine hours: $750,000 / 100,000 = $7.5 per machine hour.

4 0
2 years ago
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