E The following data are taken from the books of Tides Corporation: Gross profit from business Business expenses 2012 P1,000,000 P1,100,000 2013 1,500,000 1,510,000 2014 1,700,000 1,550,000 2015 1,850,000 1,875,000 2016 2,320,000 2,280,000 The taxable Income in 2016 is: a. P40,000 c. P 25,000 b. P15,000 d. None

E The following data are taken from the books of Tides Corporation: Gross profit from business Business expenses 2012 P1,000,000 P1,100,000 2013 1,500,000 1,510,000 2014 1,700,000 1,550,000 2015 1,850,000 1,875,000 2016 2,320,000 2,280,000 The taxable Income in 2016 is: a. P40,000 c. P 25,000 b. P15,000 d. None

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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XYZ Co its selected financial statements items are given as following. Total net sales equals to 550.000 TL, COGS equals to 300.000 TL, operating expenses equals to 100.000 TL, interest expenses equals to 50.000 TL, 4 - tax expenses 20.000 TL, total depreciation & amortization expenses equals to 40.000 TL. Calculate the EBITDA of the company for the year 2020. a) O 80.000 TL 01383 b) O 150.000 TL c) O 190.000 TL d) O 110.000 TL
Simpsom Inc. had a taxable income of $500,000 in 2012. What is the federal income tax for the company? A. $75,000 B. $125,000 C. $170,000 D. $178,250
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COTB MC Qu. 16-76 (Algo) Assume a company provided the... Assume a company provided the following information: Net operating income Net income before tax Net income Gross margin The times interest earned ratio is closest to: $ 184,000 $ 170,000 $ 119,000 $ 680,000
QUESTION 6 From the following table calculate net income after tax for 2016? Amount ($) Description Year 2016 500,000 Sales 300,000 Cost of goods sold 65,000 Depreciation 15,000 Interest expense Selling and administrative expenses 55,000 Equity (at the beginning of 2016) 197,250 30% Tax rate Dividends payout 50% $65,000 $19,500 $45,500 $80,000 Click Save and Submit to save and submit. Click Save Al Answers to save all answe search
Using the financial statements mentioned above estimate the annual rate of interest paid by the corporation (cost of debt). Also, find the tax rate and capitalization ratio (proportions among equity and debt). Using these values that you have found estimate the annual weighted cost of capital (WACC) of the corporation. Income statement PERIOD ENDING: 12/31/2019 Total Revenue $20,972,000 Cost of Revenue $17,755,000 Gross Profit $3,217,000 OPERATING EXPENSES Research and Development $0 Sales, General and Admin. $938,000 Non-Recurring Items $138,000 Other Operating Items $341,000 Operating Income $1,800,000 Add'l income/expense items $180,000 Earnings Before Interest and Tax $1,993,000 Interest Expense $394,000 Earnings Before Tax $1,599,000 Income Tax $326,000 Minority Interest $13,000 Equity Earnings/Loss Unconsolidated Subsidiary $0 Net Income-Cont. Operations $1,286,000 Net Income $1,273,000 Net Income Applicable to Common Shareholders…
Given the following information :sales R10 000 000,calculated gross profit R7 000 000 ,operating expenses R3 200 000,Interest income R60 000,Interest expense R250 000 and income tax 28% of profit before tax . Net profit after tax is ?
A. 360,000 B. 270, 000 C. 300,000 D. 306,000