Minor inc had revenue of 572000 and expenses other than

Assignment Help Accounting Basics
Reference no: EM13598181

Minor inc had revenue of $572,000 and expenses (other than income taxes) of $282,000 for the current year. The company is subject to a 35 percent income tax rate. In addition, available-for-sale investments, which were purchased for $17,500 early in the year, had a market value at the end of the year of $19,200.

A. Determine the amount of Minor's net income for the year.

B. Determine the amount of Minor's comprehensive income for the year.

Reference no: EM13598181

Questions Cloud

On july 1 2010 atwater corporation issued 1681700 face : on july 1 2010 atwater corporation issued 1681700 face value 9 10-year bonds at 1920720. this price resulted in an
Prepare the adjusting entry at december 31 2010 to record : prepare the adjusting entry at december 31 2010 to record bad debts expense assuming that the aging schedule indicates
Ssume that on november 1 2011 newby calls the bonds at 101 : on may 1 2010 newby corp. issued 634100 5 5-year bonds at face value. the bonds were dated may 1 2010 and pay interest
Outside supplier has offered to sell company all these : direct materials 15.70direct labor 17.50variable manuf overhead 4.50fixed manuf overhead 14.60unit product cost
Minor inc had revenue of 572000 and expenses other than : minor inc had revenue of 572000 and expenses other than income taxes of 282000 for the current year. the company is
An endowment fund is to be set up to finance a community : an endowment fund is to be set up to finance a community resource center at an investment of 150000 that would
On july 1 2010 atwater corporation issued 1681700 face : on july 1 2010 atwater corporation issued 1681700 face value 9 10-year bonds at 1920720. this price resulted in an
Evaluate a financial proposal to buy a stereolithography : evaluate a financial proposal to buy a stereolithography equipment on pw basis given the following databull investment
A us government bond matures in 10 years its quoted price : a us government bond matures in 10 years. its quoted price is 97.8 for a face value of 100. the bond coupon rate is 5

Reviews

Write a Review

Accounting Basics Questions & Answers

  What is the cost of the equipment

Tyson Chandler Company purchased equipment for $10,000. Sales tax on the purchase was $500. Other costs incurred were freight charges of $200, repairs of $350 for damage during installation, and installation costs of $225. What is the cost of the ..

  When a credit customer returns merchandise to the seller

when a credit customer returns merchandise to the seller under a perpetual inventory system the seller would debit

  The auditors of loopy limited wish to use a structured

the auditors of loopy limited wish to use a structured approach to non-statistical sampling to evaluate the

  Make an income statement for the month ended september 30

the following list in alphabetical order shows the various items that regularly appear on the financial statements of

  Calculate units purchased for august and september actuals

cash and production budget. p sells a single specialty product imported from denmark. sales for the six months ended

  For the year ended june 30 2011 northern clothing company

for the year ended june 30 2011 northern clothing company has total assets of 81197417 roa of 9.84 percent roe of 18.74

  Clopack company manufactures one product that goes through

clopack company manufactures one product that goes through one processing department called mixing. all raw materials

  Shea company is considering investing in an annuity

shea company is considering investing in an annuity contract that will return 37500 annually at the end of each year

  Blanton corporation purchased 35 of the outstanding shares

blanton corporation purchased 35 of the outstanding shares of common stock of worton corporation as a long-term

  For eckstein company the predetermined overhead rate is 140

for eckstein company the predetermined overhead rate is 140 of direct labor cost. during the month eckstein incurred

  Research the internet for businesses that have successfully

research the internet for businesses that have successfully transitioned to e-commerce.middot write a 1050- to

  Who are the users of financial statements how would users

who are the users of financial statements? how would users differ in their views of the financial statements? why would

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