Tech-Gear Solutions reported a net income of $3.8 million for the fiscal year 2024. The company's financial statements show depreciation expenses of $450,000. Assuming no amortization expense, what is Tech-Gear Solutions' net cash flow? A) $3,350,000 B) $3,800,000 C) $4,250,000 D) $4,500,000

Tech-Gear Solutions reported a net income of $3.8 million for the fiscal year 2024. The company's financial statements show depreciation expenses of $450,000. Assuming no amortization expense, what is Tech-Gear Solutions' net cash flow? A) $3,350,000 B) $3,800,000 C) $4,250,000 D) $4,500,000

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter22: Accounting For Changes And Errors.

Section: Chapter Questions

Problem 13P: Gray Companys financial statements showed income before income taxes of 4,030,000 for the year ended...

See similar textbooks

Related questions

Q: Hello teacher please help me Accounting question

Q: both answer wanted for this account

A: Step 1: Understand the LCM RuleCost: The historical cost of the inventory.Market Value:Replacement…

Q: Part 1 of 2 Last month, Baxter Corporation purchased and used the same quantity of material in…

A: Detailed explanation: Given:Actual Price paid for material per Pound = $4.00Standard Price per Pound…

Q: What is her after -tax savings rate of return on these financial accounting question?

A: To calculate Opal's after-tax savings rate of return, we use the formula:After-tax return=Pre-tax…

Q: What is the company's ROS?

A: Explanation of Net IncomeNet Income refers to the final profit or loss of a company after accounting…

Q: An entry light has a total cost of $125 per unit, of which 80 is product cost

A: Explanation of Markup Percentage: Markup percentage is a measure that shows how much the selling…

Q: Cost Account - Jeremiah, an unmarried taxpayer, had $90,000 in adjusted gross income for the current…

A: Step 1: Key InformationAdjusted Gross Income (AGI): $90,000Land purchased 15 years ago:Cost (basis):…

Q: 2. The company's actual labor cost is $114,000 for Procedure 1. Determine the actual cost of direct…

A: Key Information given include:Procedure 1's cost breakdown:Direct labor: 40%Direct materials:…

Q: Hi expert please give me answer general accounting

A: Question 1: Contribution Margin Ratio• Step 1: Calculate the Contribution Margin:• Step 2: Calculate…

Q: B-MED is a medical equipment distributor that sells and services General Electric Healthcare,…

A: Answer 1) Two chances of changes that were not accepted by the management in the given case are as…

Q: Need Answer please

A: With the perpetual inventory system, the ending inventory formula is:Ending Inventory=Beginning…

Q: Part 1 of 5 05 bints Knowledge Check 01 Which of the following statements about dividends are true?…

A: The question relates to the concept of dividends in a corporation. Dividends are a portion of a…

Q: I need this question answer general accounting question

Q: Date Mar. 2, Year 2 Cash Account Name Oct. 1, Year 2 Dividend Revenue To record dividends received.…

A: Dividend Revenue: $1,040 (This is the amount received from dividends.)Net gain (loss) on equity…

Q: Altira Corporation provides the following information related to its inventory during the month of…

A: First, we need to calculate the total cost of goods available for sale. This includes the beginning…

Q: Prblm

A: Explanation of Critical Definition:The "Critical" classification is applied to processes or tests…

Q: I want to correct answer general accounting

A: Step 1: Annual depreciation expense Annual depreciation expense = (Original cost - residual…

Q: The following items are components of a traditional balance sheet. How much is the total equity of…

A: Step 1: IntroductionTo calculate the total equity of the firm, we need to add the components that…

Q: Provide this general account questions answer

A: Step 1: Understand the Lower-of-Cost-or-Market (LCM) RuleThe LCM rule states that inventory should…

Q: Harrison Corporation reported a pretax book income of $425,000. Tax depreciation exceeded book…

A: To calculate Harrison Corporation's deferred income tax expense or benefit, we must analyze the…

Q: want account solution

A: Step 1: Analyze the ItemsInterest, bonds issued by City of Austin, Texas ($4,800):Interest from…

Q: Question 11

A: Explanation: The formula to calculate cost of goods manufactured is as follows:Cost of goods…

Q: financial account

A: Part (a): DRD with 15% OwnershipStep 1: Understand the DRD RateIf a corporation owns less than 20%…

Q: Provide data can some tutor solve this account query

A: Hello student! Under Variable Costing the product costs would includes variable items such as direct…

Q: provide answer of this Question with General Accounting method pls give fast not use ai

A: Step 1: Standard quantityHardwood in finished product11board feetAdd: Allowance for scrap lumber…

Q: What is the income on these general accounting question?

A: Step 1: Define Income Net income of a company is total profit i.e. (Revenue-Expenses) earned by the…

Q: Get correct answer accounting questions

A: Let's review all the given accounts and identify the current liabilities.Note that current…

Q: Yellow company variable expenses are 40% of sales solution this accounting questions

A: Step 1: Define Operating LeverageThe operating leverage is used to measure the effect on the…

Q: Give true solution for these general accounting question

A: Step 1: Define EBITEarnings Before interest and tax (EBIT) shows the operating profit of the company…

Q: need general account solution

A: To calculate the total product costs for September, we need to include only costs associated with…

Q: Outdoor Luggage, Incorporated, makes high-end hard-sided luggage for sports equipment. Data…

A: Step 1: Calculate the Contribution Margin per Unit Contribution Margin per Unit=Selling Price per…

Q: Financial accounting

A: Step 1: Define After-Tax Cost Of DebtThe after-tax cost of debt refers to an effective financing…

Q: ?

A: Explanation of Medication Tracking System: A medication tracking system is a comprehensive…

Q: The petty cash custodian at Ethos Office Services conducted the monthly reconciliation. The fund was…

A: Explanation of Petty Cash FundA petty cash fund is a small amount of money kept on hand for minor…

Q: Business 123 Introduction to Investments May I please have the solution for the following exercise?…

A: Understanding the Gordon Growth Model (GGM)The Gordon Growth Model is a valuation model used to…

Q: Jeremy corp estimated manufacturing overhead costs solution this accounting questions

A: Step 1: Define Manufacturing OverheadManufacturing overhead is also called factory burden or…

Q: On January 1, 2025, a new Board of Directors was elected for Crane Hospital. the new board switched…

A: Background and RequirementsOn January 1, 2025, a new Board of Directors for Crane Hospital decided…

Q: A company s normal selling price for its product is $25 per unit. However, due to market…

A: Step 1: Identify the cost per unit and market valuesCost per unit: $21 (the price at which the…

Q: General accounting

Q: Provide correct option in this account que.

A: Step 1: Understand Key TermsHistorical Cost: The original cost of the inventory ($50,000).Market:…

Q: A company placed an asset into service on January 1 with the following data related to the purchase:…

A: 1. Calculate the Depreciable BaseDepreciable Base=Cost of Machinery−Salvage ValueDepreciable…

Q: Need answer the accounting question not use ai

A: Step 1: Define Estimated Cash CollectionsThe estimated cash collected for a period is based on the…

Q: A company's normal selling price for its product is $28 per unit. However, due to market…

A: Step 1: Data ProvidedUnits in Inventory: 280 unitsCost per Unit: $24Replacement Cost: $21Selling…

Q: None

A: If you have any clarifications (i.e., expand the explanation) or want different, expanded, or…

Q: financial account que

A: To determine the value of inventory to be reported on the balance sheet, the Lower of Cost or Market…

Q: account solution

A: Step 1: Understand the QuestionThe deferred tax liability arises due to temporary differences…

Q: Help me with these problems

A: referencehttps://nvlpubs.nist.gov/nistpubs/SpecialPublications/NIST.SP.800-37r2.pdf

Q: Dixer Company

A: Explanation of Total Contribution Margin: The total contribution margin represents the amount of…

Q: 7 marks

A: Explanation of Regular Ticket Price: This is the base price charged for admission before any…

Q: Accounting Problem: Crystal Springs Water Treatment plant implements batch logging system. Each…

A: Explanation of Batch Logging System: A batch logging system is a quality control method where…

Question

Managerial Accounting Solution need

Tech-Gear Solutions reported a net income of $3.8 million for the
fiscal year 2024. The company's financial statements show
depreciation expenses of $450,000. Assuming no amortization
expense, what is Tech-Gear Solutions' net cash flow?
A) $3,350,000 B) $3,800,000 C) $4,250,000 D) $4,500,000

Definition Definition Process by which financial information is analyzed, interpreted, and communicated to managers to support the achievement of an organization's goals. The main objective of managerial accounting is to maximize profits and minimize losses.

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

SEE SOLUTION Check out a sample Q&A here

Step by step

Solved in 2 steps

SEE SOLUTION Check out a sample Q&A here

Similar questions

Net income for Inkaleb Inc. for 2020 includes the effect of the following transactions involving the sale of fixed assets. Asset Sales Price Cost Gain (Loss)X P20,000 P 80,000 P 10,000Y 25,000 150,000 (18,000)Purchases of fixed assets during 2020 amounted to P340,000. The Accumulated Depreciation account increased P40,000 during 2020. How much is the depreciation expense for 2020?
Summer Inc has machine with a carrying value of 450,000 on December 31, 2021. The following information was available on December 31, 2021: · Expected net cash flows (undiscounted)- P420,000 · Expected net cash flows discounted at 7%- P400,000 · Fair value, using the assets with other assets- P415,000 · Fair value, assuming the assets are sold stand-alone- P428,000 What is the impairment loss that SUmmer Inc must report in its 2021 income statement for this machine?
YOU CAN DO IT Corporation has equipment with a carrying value of 450,000 on December 31, 2021. The following information was available on December 31, 2021: · Expected net cash flows (undiscounted)- P420,000 · Expected net cash flows discounted at 7%- P400,000 · Fair value, using the assets with other assets- P415,000 · Fair value, assuming the assets are sold stand-alone- P428,000 What is the impairment loss that the Company must report in its 2021 income statement for this equipment? A. 50,000 B. 22,000 C. 30,000 D. 35,000
xyz company a for profit business had a revenue of 12 million in 2022. Ezpenses other than depreciation totaled 75 percent revenues, and depreciation expense was 1.5 million. xyz company must pay taxes at a rate of 40 percent of pretax (operating) income. All revenues were collected in cash during the year, and all expenses other than depreciation were paid i cash. Depreciation orginally was 1.5 million; however, now the company 750000 in depreciation expense instead of 1.5 million. what would cash flow be
Tater and Pepper Corporation reported free cash flows for 2023 of $56.1 million and investment in operating capital of $39.1 million. Tater and Pepper incurred $15.3 million in depreciation expense and paid $20.5 million in taxes on EBIT in 2023. Calculate Tater and Pepper's 2023 EBIT. Note: Enter your answer in millions of dollars rounded to 1 decimal place. (i.e., Enter 5,500,000 as 5.5.)
Live Corporation has equipment with a carrying value of 450,000 on December 31, 2021. The following information was available on December 31, 2021: · Expected net cash flows (undiscounted)- P420,000 · Expected net cash flows discounted at 7%- P400,000 · Fair value, using the assets with other assets- P415,000 · Fair value, assuming the assets are sold stand-alone- P428,000 What is the impairment loss that the Company must report in its 2021 income statement for this equipment?
During 2023, Blossom Company constructed various assets at a total cost of $4.10 million. The weighted- average accumulated expenditures on assets qualifying for capitalization of interest during 2023 were $2.80 million. The company had the following debts outstanding at December 31, 2023: 1. 2. 8%, five-year note to finance construction of various assets, dated January 1, 2023, with interest payable annually on January 1 $1,780,000 3. 10%, ten-year bonds issued at par on December 31, 2018, with interest payable annually on December 31 $2,040,000 7%, three-year note payable, dated January 1, 2022, with interest payable annually on January 1 $1,020,000 Calculate the total interest to be capitalized for 2023. Total interest to be capitalized
Need help
Give true answer
If the company realizes at the start of 2021 that the remaining useful life of the 6-year-old building is 20 years, what should beits carrying amount at the end of the year? (Hint: The company usesthe straight-line method of depreciation.) (Round to the nearest centavos)
4. Net income for Jimin Company for 2020 includes the effect of the following transactions involving the sale of fixed assets: Sales Price P20,000 25,000 Purchases of fixed assets during 2020 amounted to P340,000. The Accumulated Depreciation account increased P40,000 during 2020. How much is the depreciation expense for 2020? Cost P 80,000 150,000 Gain (Loss) P 10,000 (18,000) Asset Y
For 2019, Nirvana Industries disclosed cash revenue of $12.0 million and cash expenses of $6.0 million, depreciation on plant and equipment of $2.0million and an effective tax rate of 21%. For 2019, Nirvana Industries had capital expenditures of $1.0 million to purchase manufacturing equipment and invested $850,000 in net working capital. What were the net (total) cash flows for Nirvana Industries in 2019? Round your answer to the nearest hundredth of million $