Santos Company had a 40 percent tax rate. Given the following pre-tax 21) amounts, what would be the income tax expense reported on the face of the income statement? $ 300,000 180,000 24,000 33,000 27,000 3,000 6,000 Sales revenue Cost of goods sold Salaries and wages expense Depreciation expense Dividend revenue Utilities expense Interest expense
Santos Company had a 40 percent tax rate. Given the following pre-tax 21) amounts, what would be the income tax expense reported on the face of the income statement? $ 300,000 180,000 24,000 33,000 27,000 3,000 6,000 Sales revenue Cost of goods sold Salaries and wages expense Depreciation expense Dividend revenue Utilities expense Interest expense
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
![21)
Santos 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?
$ 300,000
180,000
24,000
33,000
27,000
3,000
6,000
Sales revenue
Cost of goods sold
Salaries and wages expense
Depreciation expense
Dividend revenue
Utilities expense
Interest expense
22)
York Corporation reports the following information:
Correction of understatement of depreciation expense
in prior years, net of tax
$ 645,000
480,000
1,500,000
3,000,000
Dividends declared
Net income
Retained earnings, 1/1/21, as reported
York should report retained earnings, 12/31/21, as adjusted at?
23)
Jersey Company reported the following information for 2021:
Sales revenue
1,530,000
1,050,000
165,000
Cost of goods sold
Operating expenses
Unrealized holding gain on
available-for-sale securities
Cash dividends received on the securities
120,000
6,000
For 2021, Jersey would report other comprehensive income of?
24)
For the year ended December 31, 2021, Colorado Inc. reported the following:
Net income
2$
120,000
20,000
4,000
2,000
160,000
80,000
Preferred dividends declared
Common stock dividend declared
Unrealized holding loss, net of tax
Retained earnings, beginning balance
Common stock
Accumulated Other Comprehensive
Income, Beginning Balance
What would Colorado report as total stockholders' equity?
10,000
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Transcribed Image Text:21)
Santos 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?
$ 300,000
180,000
24,000
33,000
27,000
3,000
6,000
Sales revenue
Cost of goods sold
Salaries and wages expense
Depreciation expense
Dividend revenue
Utilities expense
Interest expense
22)
York Corporation reports the following information:
Correction of understatement of depreciation expense
in prior years, net of tax
$ 645,000
480,000
1,500,000
3,000,000
Dividends declared
Net income
Retained earnings, 1/1/21, as reported
York should report retained earnings, 12/31/21, as adjusted at?
23)
Jersey Company reported the following information for 2021:
Sales revenue
1,530,000
1,050,000
165,000
Cost of goods sold
Operating expenses
Unrealized holding gain on
available-for-sale securities
Cash dividends received on the securities
120,000
6,000
For 2021, Jersey would report other comprehensive income of?
24)
For the year ended December 31, 2021, Colorado Inc. reported the following:
Net income
2$
120,000
20,000
4,000
2,000
160,000
80,000
Preferred dividends declared
Common stock dividend declared
Unrealized holding loss, net of tax
Retained earnings, beginning balance
Common stock
Accumulated Other Comprehensive
Income, Beginning Balance
What would Colorado report as total stockholders' equity?
10,000
1263 words
以
DFocus
Type here to search
近
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