How much will it owe in taxes ? General accounting question Alpine Enterprises has a marginal tax rate of 28 percent and an average taxrate of 19 percent. If the company reports $145,000 in taxable income for thefiscal year, how much will it owe in taxes?a. $27,550b. $40,600c. $32,625d. $20,300e. $41,325

Step 1: Define Taxes OwedTaxes owed represent the total tax liability of a company based on its…

Answered: Alpine Enterprises has a marginal tax…

EBK CONTEMPORARY FINANCIAL MANAGEMENT

14th Edition

ISBN:9781337514835

Author:MOYER

Publisher:MOYER

Chapter2: The Domestic And International Financial Marketplace

Section2.A: Taxes

Problem 3P

See similar textbooks

Similar questions

A company has wants to earn an income of $60,000 after-taxes. If the tax rate is 32%, what must be the companys pre-tax income in order to have $60,000 after-taxes? A. $88,235 B. $19,200 C. $79,200 D. $143,000
General accounting
Please need help with this financial accounting question
How much will it owe in taxes on these financial accounting question?
Byron Books Inc. recently reported $15million of net income. Its EBIT was$20.8million, and its tax rate was 25%. What was its interest expense? (Hint: Write out the headings foran income statement, and fill in the known values. Then divide $15million of net income by (1-T)=0.75 tofind the pretax income. The difference between EBIT and taxable income must be interest expense. Usethis same procedure to complete similar problems.)
Financial accounting
Bryon Brooks Inc. recently reported 15 million of net income. Its EBIT was 20.8 million, and its tax rate was 25%. What was its intrest expense?(Hint: Write out the headings for an income statement, and fill in the known values. Then divide 15 million of net income by (1-T)= 0.75 to find the pretax income. The difference between EBIT and taxable income must be intrest expense.
Molteni Motors Inc. recently reported $6 million of net income. Its EBIT was$13 million, and its tax rate was 40%. What was its interest expense? (Hint:Write out the headings for an income statement and then fill in the knownvalues. Then divide $6 million net income by 1 - T = 0.6 to find the pretax income. The difference between EBIT and taxable income must be theinterest expense. Use this procedure to work some of the other problems.)
Franklin Corporation just paid taxes of $152,000 on taxable income of... Franklin Corporation just paid taxes of $152,000 on taxable income of $512,000. The marginal tax rate is 35% for the company. What is the average tax rate for the Franklin Corporation?
How much will it owe in taxes on this financial accounting question?
You have calculated the adjusted profit for the company to be $2,000,000. Capital Allowance was $20,000. The tax rate is 25%.Estimated tax paid during the year is $750,000. Employment Tax Credit available (which is nonrefundable)is $700,000. The tax refundable for this company is.a. $950,000b. $500,000c. $250,000d. $200,000
Give typing answer with explanation and conclusion 6. Thornton, Inc., had taxable income of $131,387 for the year. The company's marginal tax rate was 35 percent and its average tax rate was 22.8 percent. How much did the company have to pay in taxes for the year?

SEE MORE QUESTIONS

Recommended textbooks for you

EBK CONTEMPORARY FINANCIAL MANAGEMENT

Finance

ISBN:

9781337514835

Author:

MOYER

Publisher:

CENGAGE LEARNING - CONSIGNMENT

Intermediate Financial Management (MindTap Course…

Finance

ISBN:

9781337395083

Author:

Eugene F. Brigham, Phillip R. Daves

Publisher:

Cengage Learning

Principles of Accounting Volume 2

Accounting

ISBN:

9781947172609

Author:

OpenStax

Publisher:

OpenStax College

EBK CONTEMPORARY FINANCIAL MANAGEMENT

Finance

ISBN:

9781337514835

Author:

MOYER

Publisher:

CENGAGE LEARNING - CONSIGNMENT

Intermediate Financial Management (MindTap Course…

Finance

ISBN:

9781337395083

Author:

Eugene F. Brigham, Phillip R. Daves

Publisher:

Cengage Learning

Principles of Accounting Volume 2

Accounting

ISBN:

9781947172609

Author:

OpenStax

Publisher:

OpenStax College

CONCEPTS IN FED.TAX., 2020-W/ACCESS

Accounting

ISBN:

9780357110362

Author:

Murphy

Publisher:

CENGAGE L

SEE MORE TEXTBOOKS

Alpine Enterprises has a marginal tax rate of 28 percent and an average tax rate of 19 percent. If the company reports $145,000 in taxable income for the fiscal year, how much will it owe in taxes? a. $27,550 b. $40,600 c. $32,625 d. $20,300 e. $41,325