What is the company net operating income

Assignment Help Financial Accounting
Reference no: EM131211228

Quinnett Corporation has two divisions: the Export Products Division and the Business Products Division. The Export Products Division's divisional segment margin is $37,300 and the Business Products Division's divisional segment margin is $89,700. The total amount of common fixed expenses not traceable to the individual divisions is $100,400. What is the company's net operating income?

Reference no: EM131211228

Questions Cloud

Distributed to its sold individual shareholder : A business generates profits of $150,000. The owner currently has a 28% MTR. What is the total amount of taxes paid if the business is a regular corporation and $20,000 in dividends is distributed to its sold individual shareholder?( The dividend tax..
What is the differential revenue for this decision : Brandon Company plans to add a new item to its product line. Two possible products are under consideration. Each unit of Product A costs $12 to produce and sells for $20, while each unit of Product B costs $18 and sells for $28. What is the different..
Experiences an equal increase or decrease in sales : Pioneer and Victory operate in the same industry. Pioneer’s sales, variable costs, and fixed costs are $800,000, $560,000, and $80,000, respectively. Victory’s sales, variable costs, and fixed costs are $800,000, $320,000, and $320,000, respectively...
What cost flow assumption was used : A had 500 units in its inventory at a cost of $5 each. if purchased, for $2400, 300 more units. A then sold 600 units at a selling price of $10 each, resulting in gross profit of $2,100. What cost flow assumption was used? End of the year physical in..
What is the company net operating income : Quinnett Corporation has two divisions: the Export Products Division and the Business Products Division. The Export Products Division's divisional segment margin is $37,300 and the Business Products Division's divisional segment margin is $89,700. Th..
What does a negative net present value indicate : The key to analyzing a sell as is or process further decision is to determine that: In a capital budgeting decision, if a firm uses the net present value method and a 12% discount rate, what does a negative net present value indicate?
What is the company mission statement and vision statement : What is the company's mission statement? What is the company's vision statement? What role do these have on the way the business operates? Do the company's actions seem to align to their vision and mission statements? How might the mission and vision..
The year end deferred tax asset or liability : GAAP Income before tax 600 650 525. This asset was a MACRS 3yr. Asset for tax purpose; for GAAP into service for 4 of 12 months of 2xx1 consider no other depreciable assets. Compute YE 2xx0 Deferred tax asset or liability [NET] Compute for 2xx1, 2xx2..
Compute the income tax burden on this profit : Mr. Morad, who is in the 25% tax bracket, is the sole shareholder of Shiraz bakery, Shiraz’s average annual net profit from business (before deduction of Morad’s salary) is $135,000. Compute the income tax burden on this profit, ignoring any payroll ..

Reviews

Write a Review

 

Financial Accounting Questions & Answers

  Close the revenue accounts as necessary

The year-end adjusted trial balance of the Timmons Tool and Die Corporation included the following account balances: retained earnings, $265,000; sales revenue, $880,000; cost of goods sold, $580,000; salaries expense, $155,000; rent expense, $49,000..

  To decrease the variance of a portfolio of assets

To decrease the variance of a portfolio of assets, simply add assets with low/small variance. An investor who is in the 33% tax bracket is indifferent between a 9% tax-free muni and a 6% taxable bond. The standard deviation of a portfolio of assets i..

  Assuming that the liquidity preference theory

A two-year bond carries a 6% annual rate, while a three-year bond carries 9% annual rate. (a) What is the expected one-year rate for year 3, assuming the Expectations theory for the term structure of interest rates? (5 points) (b) What is the expecte..

  Use of a mid-market pricing convention

Is it appropriate to record a gain or loss at the inception of the contract as a result of the use of a mid-market pricing convention?

  Under each depreciation method

What factors should K Company consider in determining whether to sell or keep the truck?Assume the truck is sold. Prepare the appropriate journal.entries showing sale of the truck under each depreciation method.

  What is the purpose of deferred tax assets and liabilities

What is the purpose of deferred tax assets and liabilities? What do they represent and how do they affect tax expense. Do you think recording deferred tax assets/liabilities helps the readers of the financial statements better understand a company’s ..

  Cathy steals the note from bob

Allan makes a promissory note for $1000 payable to the order of Bob. Cathy steals the note from Bob, indorses (forgets) Bob's name on the back, and gives it to David, in exchange for a TV set. David negotiates the note for value to Emma.

  Explain time value of money

Explain the time value of money. Is it important for accountants to have an understanding of compound interest, annuities, and present and future value concepts? Why?

  Setting the price for the product

Determine the factors that should have been considered when setting the price for the product you selected. Explain your rationale.

  Calculation of revenue from each activity gross profit

calculation of revenue from each activity gross profit income statement.a recent income statement for harley-davidson

  1your accounts payable system generates automated journal

1.your accounts payable system generates automated journal entries each time an invoice is recorded.2.each vendor has

  About the income tax rate

Kold Corporation estimates that its 2015 taxable income will be $900,000. Thus, it is subject to a flat 34 percent income tax rate and incurs a $306,000 tax liability. Taxable income for 2014 was ($100,000). Kold carried back all its loss to prior ye..

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd