enables users to identify the real similarities and differences in economic phenomena because the information has been measured and reported in a similar manner for different enterprises. Sohar Company had a 40 percent tax rate. Given the following pre-tax amounts, what would be the income tax expense reported on the face of the income statement ?.
- ………………..enables users to identify the real similarities and differences in economic phenomena because the information has been measured and reported in a similar manner for different enterprises.
- Sohar Company had a 40 percent tax rate. Given the following pre-tax amounts, what would be the income tax expense reported on the face of the income statement ?............................................................................
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Sales $ 100,000
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Cost of goods sold60,000
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Dividend revenue9,000
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Salary expense8,000
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Utilities expense1,000
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Extraordinary loss10,000
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Interest expense2,000
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- Majaan Company reported the following information for 2010
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Sales revenue$500,000 |
Unrealized holding gain on available-for-sale securities 20,000 |
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Cost of goods sold350,000 |
Cash dividends received on the securities 2,000 |
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Operating expenses55,000 |
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For 2010 Majaan would report comprehensive income of……………………..
- Net income minus preferred dividends divided by the weighted average of shares outstanding……………………
- Reem.'s
trial balance reflected the following account balances at December 31,
2020:
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Equipment 25,000
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Trading securities 6,000 |
Patent 4,000
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Prepaid expenses 2,000
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Cash 11,000 |
Land held for future business site 18,000
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Inventory 30,000 |
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In Reem's December 31, 2020
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