If a company has sales revenue of $120,000, cost of goods sold of $70,000, and operating expenses of $20,000, what is the net income? Correct Answer
Q: Please provide answer the accounting question
A: Step 1: Define Absorption CostingIt involves accounting for all the production costs that are fixed…
Q: 1. Beginning Inventory = $53,000 2. Ending Inventory = $29,000
A: Explanation of Beginning Inventory: This represents the value of merchandise on hand at the start of…
Q: Do fast answer of this accounting questions
A: Step 1: Definition of Maturity ValueMaturity value is the total amount to be paid at the end of a…
Q: Do fast answer of this general accounting question
A: Step 1: Define Total AssetsThe total assets are equal to the sum of total liabilities and total…
Q: Kindly help me with general accounting question
A: Step 1: Define Degree of Operating LeverageThe degree of operating leverage measures the change in…
Q: I won't to this question answer general Accounting
A: Step 1: Define Compounding Interest The compounding interest provides an advantage of earning…
Q: Answer?
A: Step 1: Identify the cost drivers and their rates for each activity.Step 2: Multiply the number of…
Q: A club formed for pleasure, recreation, and social activities is most likely organized under…
A: Section 501(c)(7) of the Internal Revenue Code applies to social and recreational clubs organized…
Q: The seattle division solution general accounting question
A: Step 1: Calculation of Net IncomeNet Income = Average Net Operating Assets × Return on InvestmentNet…
Q: What does it cost per year to carry this inventory?
A: To calculate the annual inventory carrying cost, we sum up the cost components that contribute to…
Q: What is bicket's 2013 return on common stockholders equity? General accounting
A: To calculate Bicket's 2013 Return on Common Stockholders' Equity, we follow these steps: Step 1:…
Q: A cost is $5,600 at 1,000 units, $9,000 at 2,000 units, and $10,200 at 3,100 units. This cost is a…
A: Explanation of Mixed Cost: A mixed cost is a type of cost that contains both fixed and variable…
Q: Parker industries purchased a machine solve this accounting questions
A: Step 1: Definition of Units of Production (UOP) DepreciationUnits of Production (UOP) depreciation…
Q: The total amount og deduction from an employee's gross pay is solve this question
A: Step 1: Define Employee DeductionsEmployee deductions are the deductions that are made on the gross…
Q: Don't use ai given answer accounting questions
A: a) Shareholders' equity represents the owners' claim on the company after all debts have been paid.…
Q: A company produces a single product. Variable production costs are $12 per unit, and variable…
A: To determine the dollar value of ending inventory under variable costing, we need to calculate the…
Q: Calculate the amount of the firm's after tax cash flow from operations? General accounting
A: Step 1: Define Cash Flow StatementIn the domain of accounting, the cash flow statement for a firm…
Q: M Company's highest point of the total cost was $83,000 in June. Their point lowest cost was $69,000…
A: Explanation of Fixed CostFixed cost is the part of a company's total cost that does not change with…
Q: Need help with this financial accounting question
A: Step 1: Define Return on EquityReturn on Equity or ROE reveals earnings of an entity concerning…
Q: Answer both part
A: I hope this can help you with your task. Though this should be under the Business and Finance…
Q: Need help with this question solution general accounting
A: Holding Return = [ (1+r)^n ] -1 = [ (1 + 5%) ^ 20 ] -1…
Q: Quick answer of this accounting questions
A: Payback PeriodThe payback period is the time it takes for an investment to recover its initial cost…
Q: Selected information for 2017 is: please provide answer the financial accounting question
A: Step 1: Define Inventory Turnover RatioThe inventory turnover ratio is used to measure the company's…
Q: Can you please solve this accounting problem?
A: Step 1: Define Gross Profit MethodThe Gross Profit Method estimates ending inventory by subtracting…
Q: A business incurs the following costs per unit: Labor $125/unit; Materials $45/unit and rent…
A: Step 1: Understand the ProblemA business incurs the following costs:Labor cost per unit: $125/unit…
Q: Calculate your taxable income for this year.
A: Calculation of Taxable Income for the 3rd yearTaxable Income for the 3rd year = Gross Income for 3rd…
Q: What is the equivalent rate with semi annual compounding on these financial accounting question?
A: Step 1: Define Effective Annual Interest Rate (EAR)Apart from a nominal interest rate, an effective…
Q: I won't to this question answer general accounting
A: Given:Annual interest rate = 12% per annum compounded quarterlyEffective quarterly interest rate (r)…
Q: Johnson mechanics for the year ?
A: Step 1: Define Net IncomeA company can distribute the net income among the common stockholders as…
Q: Quick answer of this General accounting questions
A: Step 1: Define Operating LeverageOperating leverage is the ratio showing the operating risk, more…
Q: Find answer
A: Step 1: Identify the Formula for Gross Margin Step 2: Plug in the values Step 3: Perform the…
Q: At the beginning of the month, the Forming Department of Martin Manufacturing had 23,000 units in…
A: Equivalent Units of Production (EUP) CalculationUsing the weighted-average method, the equivalent…
Q: Ched The Plastic Flowerpots Company has two manufacturing departments, molding, and packaging. At…
A: To calculate the equivalent units of production and the cost per equivalent unit of production for…
Q: John Joos is the owner and operator of You're A Star, a motivational consulting business. At the end…
A: We will use the accounting equation to determine the required amounts:…
Q: Hi expert provide correct answer
A: Step 1: Define Overhead costsOverhead costs are costs which are product costs but which cannot be…
Q: What will Michelle's balance be in 5 year? General accounting
A: Step 1: Introduction to time value of moneyTime value of money is a financial concept which is used…
Q: Financial Accounting
A: Step 1: Define Gross Profit Percentage:The gross profit percentage is a financial metric that…
Q: Cash Paid for Wages?
A: To calculate the cash paid for wages in 2025, we need to consider how wage expense and wages payable…
Q: Inacio Corporation uses the weighted-average method in its process costing system. Data concerning…
A: Step 1: Key DataBeginning Work-in-Process Inventory:Units: 2,500Materials cost: $14,600Percent…
Q: Please provide solution this financial accounting question not use ai
A: Step 1: Analysis of information givenBeginning Price = $52 per shareEnding Price = $54.75 per…
Q: Resale sports had inventory solve this accounting questions
A: Step 1: Define Inventory TurnoverInventory turnover is used to determine the frequency of the change…
Q: The Bruce Corporation used a job-order costing system. The following data were recorded for june:
A: Explanation of Work in Process Inventory:Work in Process (WIP) Inventory refers to the costs…
Q: I want to this question answer general Accounting
A: Step 1: Determine the taxable portion of the $2,000 gross earningsStep 2: Calculate the Social…
Q: Need help with this accounting problem without use Ai
A: Step 1: Define Budgeted Indirect Cost RateThe Budgeted Indirect Cost Rate is calculated by dividing…
Q: Please provide this question solution general accounting
A: Straight-Line Depreciation: A method of allocating the cost of an asset evenly over its useful life,…
Q: Heller Corporation uses the weighted-average method in its process costing system. Data concerning…
A: Equivalent Units for MaterialsHeller Corporation uses the weighted-average method in its process…
Q: Answer? ? General Accounting
A: Step 1: Define PerpetuityA stream of cash flow that is expected to pay a certain amount at regular…
Q: Financial Accounting
A: Long-term debt (2014): $8.2 millionLong-term debt (2015): $8.5 millionInterest expense (2015):…
Q: Not use ai solution given correct answer financial Accounting question
A: Step 1: Define InvestmentInvestment is defined as the acquisition of assets or securities to…
Q: Cost account
A: Step 1: Gather Information1. Costs:Work in process, May 1:Materials: $22,300Labor: $35,694Overhead:…
If a company has sales revenue of $120,000, cost of goods sold of $70,000, and operating expenses of $20,000, what is the net income? Correct Answer
Step by step
Solved in 2 steps with 2 images
- During the current year. Plainfield Manufacturing earned income of $845,000 from total sales of $9,350,000 and average capital assets of $13,500,000. What is the sales margin?During the current year, Sokowski Manufacturing earned income of $350,000 from total sales of $5,500,000 and average capital assets of $12,000, 000. What is the sales margin?Calculate the net profit for a company given the following information: Total revenue = $100,000, Cost of goods sold = $40,000, Operating expenses = $25,000, and Taxes = $10,000.
- If a company's revenue is $50,000, the cost of goods sold is $30,000, and operating expenses are $10,000, what is the company's gross profit?Calculate the net income for a company given the following information: Sales revenue = $100,000, Cost of goods sold = $40,000, Operating expenses = $20,000, Interest expense = $5,000, and Income tax rate = 25%.If Net Sales is $10,500, Cost of Goods Sold is $5,400, Gross Profit is $5,100 and Operating Expenses are $1,800, what is the Net Income from Operations?
- What is the difference between operating income, net income and other comprehensive income? If a company has a revenue of 2.2million and operating income of $120,000. Does the company has a high operating income margin?What is the gross profit on these general accounting question?Marino Company has provided the following information: Net sales, $480,000 Net income, $24,000 Average total assets, $200,000 What is Marino's net profit margin?