### Math Problem Set#### Problem 5:**Question:** If the total cost of an item, including 8% sales tax, is $28.62, what was the price before adding in sales tax?#### Problem 6:**Question:**The total rainfall (in inches) decreased from 7.8 to 2. What is the absolute change?#### Problem 7:**Question:**A man’s weight is 27% less than his original weight. Hence, new weight = _____% of the original weight. (fill in blank)

Note: We’ll answer the first question since the exact one wasn’t specified. Please submit a new…

Answered: lev besqu (5) If the total cost of an…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

3) ( Below table shows the calculations for an after-tax analysis of a machine purchase alternative. EOY ВТСР Depreciation Deduction Тахable Income АТCF Income Таxes - 20,000 16,000 16,000 16,000 16,000 16,000 18,000 3,000 3,000 3,000 3,000 3,000 3,000 13,000 13,000 13,000 13,000 13,000 15,000 - 6,500 - 6,500 - 6,500 - 6,500 - 6,500 - 7,500 - 20,000 9,500 9,500 9,500 9,500 9,500 1 3 4 6. 10,500 a) Find answers to the below questions What are the cost basis (price) and "annual revenues less expenses"? What is the terminal market value (or salvage value)? What is the income tax rate? i. ii. iii. iv. What is the method used for depreciation deduction? What is the book value at the end of useful life? V. b) Calculate the equivalent present worth (PW) and the equivalent annual worth (AW) at an after-tax MARR of 11%.
A consumer buys an article for a listed price of 380 OMR from a shopkeeper and pays 10% sales tax. The shopkeeper pays a VAT of OMR 3. Find the price inclusive of tax at which the shopkeeper bought from the wholesaler. a. 35O OMR b. 418 OMR c. 315 OMR d. 385 OMR
Use the following information for Ingersoll, Incorporated. Assume the tax rate is 21 percent. 2020 2021 Sales $ 21,049 $ 19,038 Depreciation 2,466 2,574 Cost of goods sold 6,140 6,821 Other expenses 1,406 1,223 Interest 1,155 1,370 Cash 8,721 9,517 Accounts receivable 11,578 13,752 Short-term notes payable 1,764 1,731 Long-term debt 29,330 35,454 Net fixed assets 72,976 77,880 Accounts payable 6,323 6,910 Inventory 20,577 21,952 Dividends 2,429 2,404 For 2021, calculate the cash flow from assets, cash flow to creditors, and cash flow to stockholders. (A negative answer should be indicated by a minus sign. Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.)
a. Fill in the missing numbers in the following income statement: (Do not round intermediate calculations and round your answers to the nearest whole number, e.g. 32.) Sales Costs Depreciation EBIT Taxes (22%) Net income b. b. What is the OCF? (Do not round intermediate calculations and round your answer to the nearest whole number, e.g. 32.) c. What is the depreciation tax shield? (Do not round intermediate calculations and round your answer to the nearest whole number, e.g. 32.) C. $ OCF 586,900 364,300 114,100 Depreciation tax shield
FGH Corporation had the following in 2021: Sales P 3.4M; Cost of sales P 1.2M; Admin expense P 0.3M; Selling expenses P .5M; other taxable income from operations P .1M. 1. What is deductible expense if the company uses OSD? 2. Using the problem above, what is the income tax payable?
Financial information is presented below: Operating expenses Sales returns and allowances 3000 Sales discounts Sales revenue Cost of goods sold The gross profit rate would be 0.40. 0.60. 0.44. $ 45000 0.38. 8000 180000 101000
1
If merchandise sold for $3,500, with terms of 3/15, n/45, and the cost of the merchandise sold is $2,100, the amount credited to sales is .... Group of answer choices
Question 56: When using Solver, only one variable can be adjusted. Answer: A. TrueB. False Question 57: What is the net income value at the breakeven point? Answer: A. Maximum possible amount, given sales level B. Minimum possible amount, given sales level C. $0 D. $100,000
Problem Hans Inc. is a merchandising company that resells equestrian saddles. The company's inventory data is as follows: Cost of Goods Available for Sale Jan. 1 Beginning Balance 2 units @ $200 $400 Jan. 5 Purchase 3 units @ $400 = $1,200 4 units @ $500 $2,000 Jan. 20 Purchase Retail Sales of Goods Jan. 15 Sales 3 units @ $900 = $2,700 Jan. 31 Sales 2 units @ $1,000 = $1,800 Assume Hans Inc. uses a perpetual inventory system. For the January 15th sale, the units sold consisted of 2 units from January 5th purchase and 1 unit from January 1st inventory balance. For the January 31st sale, the units sold consisted of 1 unit from the January 1st inventory balance and 1 unit from the January 20th purchase.
What is the wholesale price of an item, if the retail price is $104.37 and the amount of markup is $33.37? The wholesale price is $
Calculate the missing information for the following purchases. Sales Tax Excise Sales Excise Tax Rate Rate Tax Tax 5% Item) Selling Price Sofa $750.00 $109.99 6% A/ A/ A/ Please enter $15.12 for total3 0% $0.00 A/ Book 0% $0.00 5% Total Purchase Price A/ A/ 8% Tire A $15.12

SEE MORE QUESTIONS

Recommended textbooks for you

FINANCIAL ACCOUNTING

Accounting

ISBN:

9781259964947

Author:

Libby

Publisher:

MCG

Accounting

ISBN:

9781337272094

Author:

WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.

Publisher:

Cengage Learning,

Accounting Information Systems

Accounting

ISBN:

9781337619202

Author:

Hall, James A.

Publisher:

Cengage Learning,

FINANCIAL ACCOUNTING

Accounting

ISBN:

9781259964947

Author:

Libby

Publisher:

MCG

Accounting

ISBN:

9781337272094

Author:

WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.

Publisher:

Cengage Learning,

Accounting Information Systems

Accounting

ISBN:

9781337619202

Author:

Hall, James A.

Publisher:

Cengage Learning,

Horngren's Cost Accounting: A Managerial Emphasis…

Accounting

ISBN:

9780134475585

Author:

Srikant M. Datar, Madhav V. Rajan

Publisher:

PEARSON

Intermediate Accounting

Accounting

ISBN:

9781259722660

Author:

J. David Spiceland, Mark W. Nelson, Wayne M Thomas

Publisher:

McGraw-Hill Education

Financial and Managerial Accounting

Accounting

ISBN:

9781259726705

Author:

John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles

Publisher:

McGraw-Hill Education

SEE MORE TEXTBOOKS

lev besqu (5) If the total cost of an item, including 8% sales tax, is $28.62, what was the price before adding in sales tax ?