Posh Inc. has sales of $500,000 and costs of $300,000. Interest expense is $20,000 and depreciation is $50,000. The tax rate is 35%. What is the net income? a. $50,400 b. $84,500 c. $39,600 d. $20,400
Q: None
A: Step 1:The first step is to calculate Total assets - Current Liabiltiies in Investment centre M,…
Q: Need answer please
A: Steps to Calculate Operating IncomeStep 1: Calculate COGS (Cost of Goods Sold):• COGS = Beginning…
Q: Not use ai please don't
A: Step 1: The calculation of the present value AB1Lottery won (FV) $ 3,000,000.00 2Awarded after…
Q: Solve this problem not use ai
A: The term "assets" refers to the resources owned or controlled by an organization that have economic…
Q: None
A: Detailed explanation:Sales (10300 units x $ 168 selling price) $ 1,730,400…
Q: View Policies Current Attempt in Progress The May transactions of Bramble Corporation were as…
A: Step 1:The journal entries to record the transactions is as follows: DateAccount Titles and…
Q: Here is the production data for PT AAA for March 2024. You are requested to prepare the Cost of…
A: Step 2: Define the Formula for COGSThe formula for Cost of Goods Sold (COGS) is:COGS=Beginning…
Q: Instructions a. Prepare a statement of cash flows for 2025. b. Prepare an unclassified balance sheet…
A: Detailed explanation:Net Income $ 35,000 Adjustments : Depreciation (added back to cash flow…
Q: Give step by step calculation for this accounting question
A: Step 1: Introduction to the Asset DisposalAsset disposal is selling or retiring an asset from the…
Q: Please need answer the accounting question
A: Step 1: Introduction to inventory valuationInventory valuation is referred to as that method which…
Q: Dr. Cr. Jan 1, 2024: Prepare the necessary journal entries at the following dates for Pelican Inc.…
A: Jan. 1, 2024Dr.Cash300,000 Cr.Notes Payable 300,000
Q: None
A: Step 1: Contribution margin per unit.= selling price per unit - variable cost per unit= $10 - $6= $4…
Q: Please need answer
A: Step 1: Define Return on EquityReturn on equity is the financial ratio that is calculated to…
Q: Research Problem 1. Jerry Jeff Keen, the CFO of Boots Unlimited, a Texas corporation, has come to…
A: MemorandumJerry, please Boots Unlimited's Chief Financial Officer, Jeff Keen To: [Your Name], [Your…
Q: None
A: The problem requires the determination of the asset turnover. Asset turnover is the ratio of total…
Q: Give answer please
A: Explanation of Debit: In accounting, a debit is an entry made on the left side of an account ledger.…
Q: Answer in step by step with explanation. Don't use Ai and chatgpt.
A: Under the tax rules, a theft loss is generally deducted in the year that the theft occurred, as long…
Q: Henry's Hat Store for the year ended December 31, 2023.2023 2022Cash 150,000 140,000Accounts…
A: The first step in preparing the statement of cash flows using the indirect method is to calculate…
Q: What?
A: Explanation of Liability: Liability represents the financial obligations a business owes to others.…
Q: Hello tutor give me true calculation
A: Step 1: Define Shareholders' EquityShareholders' Equity confers to the net worth of the Company or…
Q: Can you solve this question?
A: Step 1: Define Overhead ApplicationOverhead application refers to allocating manufacturing overhead…
Q: please do them right. i will upvote.
A: Required A:Step 1: Determine the depreciable basis.Depreciable basis = Cost - Residual…
Q: On November 16, Year 1, Clear Glass Company borrowed $20,000 from First American Bank by issuing a…
A: 3. Effective interest rate formula = (Interest cost/usable loan amount)*(number of days in a…
Q: Need help with this accounting question
A: Step 1: Define Manufacturing OverheadManufacturing overheads are indirect costs associated with…
Q: Teal Mountain Leasing Company signs a lease agreement on January 1, 2025, to lease electronic…
A: Given InformationCost of the Equipment: $190,000Fair Value of the Equipment: $238,500Residual Value:…
Q: Provide correct answer
A: Step 1: Define Double-entry bookkeepingIn accounting, the use of double-entry bookkeeping is aligned…
Q: E 4-20 Statement of cash flows, indirect method LO4-8 Presented below is the 2024 income statement…
A: Step 1:Statement of cash flows:TIGER ENTERPRISESStatement of Cash FlowsFor the Year Ended December…
Q: Solve this problem
A: Step 1: Define Manufacturing OverheadManufacturing overhead refers to the cost associated with…
Q: General Accounting
A: Step 1: Define Liquidity MeasuresA measure of liquidity shows the relationship of liquid assets to…
Q: If you give me wrong answer I will give you unhelpful rate
A: Step 1: If Dennis's tax rate is 22 percent, which bond should he choose?We used the formula to…
Q: Give me 2 detailed paragraphs on how Best Buy processes their revenue
A: Best Buy generates revenue mostly from product sales and service services like as installation,…
Q: Provide correct option and answer
A: Step 1: Introduction to the BondsBonds are financial instruments issued by companies to raise…
Q: Need help with this general accounting question
A: Step 1: Introduction to the Fixed AssetsFixed assets are acquired to increase sales growth and…
Q: 1. The following information pertains to Parsons Co.: Preferred stock, cumulative: Par value per…
A: Preferred Stock:Par Value per Share: $100Dividend Rate: 6%Shares Outstanding: 10,000Dividends in…
Q: Hello tutor provide solution
A: Step 1: Define Full CostingFull costing is also known as absorption costing which is a technique to…
Q: On January 1, 2025, Crane issued $800,000 of 9% serial bonds at par. Semiannual interest is payable…
A: On January 1, 2025, Crane issued $800,000 of 9% serial bonds at par. These bonds require semiannual…
Q: General Accounting
A: Step 1: Calculate the total capital loss per share (before dividends)Step 2: Calculate the total…
Q: A). Discuss what is meant by automatic exchange of information for International Tax and What are…
A: Approach to Solving the QuestionUnderstand the ConceptBegin by defining AEOI and its significance in…
Q: XAX Manufacturing has fixed overhead costs of $50,000 per month and variable costs of $5 per unit.…
A: To find the break-even point, we need to calculate how many units XAX Manufacturing must sell to…
Q: Can you please give correct answer?
A: Step 1: Define Return on EquityReturn on equity calculates the efficiency of a business to generate…
Q: Need answer the accounting question
A: Step 1: Define InventoryInventory is the greatest and regarded as the main asset of any business…
Q: Flash Company budgeted $557,000 manufacturing direct wages, 2,000 direct labor hours, and had the…
A: Step 1:The material handling cost assigned to Job 971 is calculated as follows: Material handling…
Q: Don't use AI.
A: Just know that even without going through the explanation below, the answer is clearly zero. The…
Q: General Accounting
A: Step 1: Define Break-even pointIt is essential for businesses to know their break-even point to…
Q: Please solve this general accounting question
A: Step 1: Define Notes payableNotes payable are the sources of raising finance for the organization.…
Q: Aan Company purchased machinery on January 1, 2023, for $50,000. The machinery has an estimated…
A: Step 1:Requirement 1.Depreciation calculation of Aan company Straight line method= (Cost of asset -…
Q: Prepare the journal Entries
A: Step 1: 1) Initial Purchase of Machinery The Machinery Account will be debited and the Cash account…
Q: Answer me
A: Journal Entries and Calculation of Ending Balances for XYZ CompanyOffice Supplies Transactions1.…
Q: General Accounting
A: Approach to solving the question: For better clarity of the solution, I have provided the formula…
Q: Prepare entries
A: 3. Sale of Bonds at PremiumDateAccountDebitCreditDescription Cash (Capital Projects Fund)$1,011,840…
What is the net income?
Step by step
Solved in 2 steps
- Need helpWebster world has sales of $13,800, costs of $5800, depreciation expense of $1100, and interest expense of $700. What is the OCF if the tax rate is 23 percent?Gorilla Movers has sales of S645,560, cost of gods sold of SsA25,890, depreciation of $32,450, and interest expense of S12,500. The tax rate is 30 percent. What is the times interest earmed ratio?
- Andre's Bakery has sales of $687,000 with costs of $492,000. Interest expense is $26,000 and depreciation is $42,000. The tax rate is 21 percent. What is the net income? 1b. Washington, Inc. has sales of $45,000, costs of $25,400, depreciation expense of $1,900, and interest expense of $1,600. If the tax rate is 21%, what is the operating cash, or OCF?Holly Farms has sales of S509,600, costs of $448,150, depreciation expense of $36,100, and interest paid of SI2,400. The tax rate is 28 percent. How much net income did the firm carn for the period?Your firm has total sales of $1,700. Operating Costs are $745, excluding depreciation and taxes, and operating- related depreciation is $155. The tax rate is 20%. What is the operating cash flow? A. $460. B. $600. C. $640. D. $800. E. $955.
- swhat is the income...Billy's Exterminators, Inc., has sales of $817,000, costs of $343,000, depreciation expense of $51,000, interest expense of $38,000, and a tax rate of 21 percent. What is the net income for this firm? Sales Costs Depreciation expense Interest expense Tax rate $ Sales Costs Depreciation expense EBIT Interest expense EBT Taxes (21%) Net income 817,000 343,000 51,000 38,000 21% Complete the following analysis. Do not hard code values in your calculations. Income Statement $ 817,000 343,000 51,000
- Fergus Inc. has sales of $47,000, costs of $19,900, depreciation expense of $3,400, and interest expense of $2,900. If the tax rate is 35%, what is the operating cash flow, or OCF? (Omit $ sign in your response.) Operating cash flow $Benson, Inc., has sales of $44830, costs of $14,370, depreciatior and interest expense of $2,390. The tax rate if 23 percent. What is the operating cash flow, or OCF?want ans..