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1. Sales= 200; Gross proft= 140; Operating expenses= 40' Income Tax rate= 40%. What is net income? *Show calculations
2. Sales= 200; Gross profit= 140; Operating expeses= 40; Loss from discontinued operations before tax= 50; Income tax rate = 40%.What is the total income expense? *Show calculations
3. Net Income, 1,000; increase in accounts recievable, 100; increase in accounts payable, 100; dividends paid, 100; loss on disposal of investment, 100; gain on disposal of equipment, 100. What is net cash flow from operating activities? *Show calculations
question 1.robertson inc. prepares its financial statements according to international financial reporting standards.
"On February 22, Kountry Repair Service extended an offer of $200,000 for land that had been priced for sale at $250,000. - At what value should the land be recorded in Kountry Repair Service's records".
The following events took place for Video Wave Manufacturing Company during January 2016, the first month of its operations as a producer of digital video monitors: Prepare the January 2016 income statement for Video Wave Manufacturing Company. Refer..
A manufacturing company allows employees to purchase, at cost, manufacturing materials such as metal and lumber, for personal use. Discuss if the assistant cost accountant behaved in an ethical way.
In most businesses in Kazakhstan, it is true to say that the boss makes most of the decisions. This is probably the result of the Soviet system, where obedience was considered to be an important quality in an employee.
An industry regulator has just proposed guidelines of valuing inventory which seem to contradict the ABC Ltd's adherence to the provisions of IAS 2: Inventory
In the previous year, a firm failed to record premium amortization of $40,100 and $28,900, respectively, on its bonds payable and held to maturity bond investments. These errors affect both income before tax and taxable income. The firm's tax rate is..
At the end of the prior year, Fox Inc. had a deferred tax asset of $10,000,000 attributable to its only timing difference, a temporary difference $50,000,000 in a liability for estimated expenses. At the time a valuation allowance of $4,000,000 was e..
Business is going well for Lazer Technology Ltd. The board of directors of this familyowned company believes that Lazer Technology Ltd could earn an additional $1,800,000 in profit before interest and taxes each year by expanding its range of product..
On 2009 January 2, a new machine was acquired for USD 900,000. The machine has an estimated salvage value of USD 100,000 and an estimated useful life of 10 years. The machine is expected to produce a total of 500,000 units of product throughout its u..
Seaboard Motors leased equipment from Aqua Corporation on December 31, 2015. The term of the lease is for 10 years with an expiration of December 31, 2024. The useful life of the asset is 10 years. Determine the balance in the lease liability for Sea..
What is the present value of each decision alternative? What other factors, including strategic issues, should the firm consider before making the final decision?
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