EconomicsABC company produce jewelries made byreal gold, based on their calculation, theirestimated expenses is 455,000 monthlyand the gross revenue reach to 4,000,000per month. What is the yearly depletionallowance?Gross Income Basis =Net Income Basis =Gross Income Basis or Net Income Basis =

Gross income is the total income you earn on your paycheck, and net income is the amount you receive…

Answered: ABC company prc

Business

Accounting

ABC company prc

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter5: The Income Statement And The Statement Of Cash Flows

Section: Chapter Questions

Problem 2MC: The following information is available for Cooke Company for the current year: The gross margin is...

See similar textbooks

Similar questions

A company has the following income statement. What is its net operating profit after taxes (NOPAT)? Round it to a whole dollar. Will need to find EBIT first. Sales $ 1,050 Costs 600 Depreciation 170 EBIT $ ? Interest expense 50 EBT $ ? Taxes (24%) ? Net income $ ?
Mauka, Inc. provided the following income statement for last year: Sales $24,350,735 Cost of goods sold 15,300,000 Gross margin $9,050,735 Operating expenses 4,910,685 Operating income $4,140,050 511,015 $3,629,035 1,461,214 $2,167,821 Required: Calculate the times-interest-earned ratio. Round the answer to one decimal place. times Interest expense Income before taxes Income taxes Net income
Blossom Corp. has annual sales totaling $1146000 and an average gross profit of 20% of cost. What is the dollar amount of the gross profit? $286500. $171900. $229200. $191000.
Pollux Company had the following income statement for last year Sales-$360,000 Less: Cost of goods sold-$195,000 Gross margin-$165,000 Less: Selling & administration expense-$78,600 Operating income- $86,400 Beginning assets were $565,000 and ending assets were $597, 000. Carry computations out to three decimals places A. What are average operating assets? B. what is margin? C. what is turnover? D. What is ROI?
What was the amount of Best Buy's cost of goods sold?
1
A company has the following income statement. What is its net operating profit after taxes (NOPAT)? Round it to a whole dollar. Sales $ 1,200 Costs 600 Depreciation 170 EBIT $ ? Interest expense 50 EBT $ ? Taxes (20%) ? Net income $ ?
Do not use ai
Given the following data for a company, what are their total liabilities? Profit margin = 5% Net income = $30,000 Net working capital = $100,000 Total asset turnover = 1.2 Fixed asset turnover = 1.5 ROE = 25% Enter your answer in whole dollars (no cents) without the $ sign.
Consider the following income statement: Sales $ 912,400 Costs 593,600 Depreciation 135,000 Taxes 21% Calculate the EBIT. Calculate the net income. Do not give answer in image
The following information is available for Cooke Company for the current year: The gross margin is 40% of net sales. What is the cost of goods available for sale? a. 5840,000 b. 960,000 c. 1,200,000 d. 1,220,000
Elizabeth Tailors Inc. has assets of $8,540,000 and turns over its assets 1.8 times per year. Return on assets is 16.5 percent. What is the firm's profit margin (returns on sales)? (Input your answer as a percent rounded to 2 decimal places.) Profit margin %6