Homework Answers
Calculation of Flips pizzeria Inc, net operating income,
- Calculation of gross profit = sales - cost of goods sold = 1,955,000 - 690,000 = 1,265,000.
- Net operating income / (loss) = gross profit - advertising Expenses - other Operating Expenses - wages and salaries = 1,265,000 - 75,000 - 335,000 - 485,000 = 370,000.
Therefore taxable income of Flips pizzeria Inc is 370,000 + 15,000(capital gain) = 385,000.
Both these are taxable at different rates of taxes.
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Flip's Pizzeria Inc. has the following financial items for the current year. Advertising Expenses $75,000 Cost...
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Flip's Pizzeria Inc. has the following financial items for the current year: Advertising Expenses $50,000 Cost of Goods Sold $400,000 Other Operating Expenses $395,000 Sales $2,340,000 Cost of Equipment purchased during the year (10 year estimate useful life, O salvage value) $505,000 Calculate Flip's taxable liability for the current year. Answer is complete but not entirely correct. B C D A E 2 Taxable Liability = $ 303,345
General's Inc. has the following financial items for the current year Advertising Expenses $80,000 Cost of...
General's Inc. has the following financial items for the current year Advertising Expenses $80,000 Cost of Goods Sold $610,000 Other Operating Expenses $405,000 Sales $2,090,000 Wages and Salaries $430,000 Capital Loss $50,000 Calculate General's taxable income for the current year 2 Taxable income (Net Operating Loss)= o covou
please try and complete asap Flip's Pizzeria Inc. has the following financial items for the current...
please try and complete asap
Flip's Pizzeria Inc. has the following financial items for the current year: Advertising Expenses $40,000 Cost of Goods Sold $350,000 Other Operating Expenses $330,000 Sales $2.720.000 Cost of Equipment purchased during the year (10 year estimate useful life, O salvage value) $585,000 Calculate Flip's taxable liability for the current year. SA Taxable Liability NM +0000
please post correct answer Flip's Pizzeria Inc. has the following financial items for the current year:...
please post correct answer
Flip's Pizzeria Inc. has the following financial items for the current year: Advertising Expenses $40,000 Cost of Goods Sold $350,000 Other Operating Expenses $330,000 Sales $2,720,000 Cost of Equipment purchased during the year (10 year estimate useful life, 0 salvage value) $585,000 Calculate Flip's taxable liability for the current year A В C D E 1 Taxable Liability 2 3 4 5 6 7 8 10
Check my w Flip's Pizzeria Inc. has the following financial items for the current year: Advertising Expenses $90,000 Cost of Goods Sold $650,000 Other Operating Expenses $315,000 Sales $2,530,000 Wages and Salaries $495,000 Capital Gain $20,000 Calculate Flip's taxable income for the current year. B C 1 Taxable income (Net Operating Loss)= 3 4 5 6 D E General's Inc. has the following financial items for the current year: Advertising Expenses $55,000 Cost of Goods Sold $635,000 Other Operating Expenses...
Flip's Pizzeria Inc. has the following financial items for the current year: Advertising Expenses $45,000 Cost of Goods Sold $390,000 Other Operating Expenses $305,000 Sales $2,085,000 Cost of Equipment purchased during the year (10 year estimate useful life, O salvage value) $375,000 Calculate Flip's taxable liability for the current year. А в с To E 2 Taxable Liability = Flip's Pizzeria Inc. has the following financial items for the current year: Adjusted Taxable income before Interest $6,600,000 Interest Income $55,000...
Flip's Pizzeria Inc. has the following financial items for the current year. Advertising Expenses $40,000 Cost of Goods Sold $410,000 Other Operating Expenses $365,000 Sales $2,125,000 Cost of Equipment purchased during the year (10 year estimate useful life, O salvage value) $310,000 Calculate Flip's taxable liability for the current year. c Taxable Liability
Flip's Pizzeria Inc. has the following financial items for the current year Advertising Expenses $40,000 Cost of Goods Sold $350,000 Other Operating Expenses $330,000 Sales $2,720,000 Cost of Equipment purchased during the year (10 year estimate useful life, O salvage value) $585,000 Calculate Flip's taxable liability for the current year. Taxable Liability = 2 3 NOS
Flip's Pizzeria Inc. has the following financial items for the current year: Advertising Expenses $50,000 Cost of Goods Sold $400,000 Other Operating Expenses $395,000 Sales $2,340,000 Cost of Equipment purchased during the year (10 year estimate useful life, O salvage value) $505,000 Calculate Flip's taxable liability for the current year. Answer is complete but not entirely correct. в стр 1 А Taxable Liability = $ 303,345 %
Flip's Pizzeria Inc. has the following financial items for the current year: Advertising Expenses $50,000 Cost of Goods Sold $400,000 Other Operating Expenses $395,000 Sales $2,340,000 Cost of Equipment purchased during the year (10 year estimate useful life, O salvage value) $505,000 Calculate Flip's taxable liability for the current year. Answer is complete but not entirely correct. B C D A E 2 Taxable Liability = $ 303,345
General's Inc. has the following financial items for the current year Advertising Expenses $80,000 Cost of Goods Sold $610,000 Other Operating Expenses $405,000 Sales $2,090,000 Wages and Salaries $430,000 Capital Loss $50,000 Calculate General's taxable income for the current year 2 Taxable income (Net Operating Loss)= o covou
please try and complete asap
Flip's Pizzeria Inc. has the following financial items for the current year: Advertising Expenses $40,000 Cost of Goods Sold $350,000 Other Operating Expenses $330,000 Sales $2.720.000 Cost of Equipment purchased during the year (10 year estimate useful life, O salvage value) $585,000 Calculate Flip's taxable liability for the current year. SA Taxable Liability NM +0000
please post correct answer
Flip's Pizzeria Inc. has the following financial items for the current year: Advertising Expenses $40,000 Cost of Goods Sold $350,000 Other Operating Expenses $330,000 Sales $2,720,000 Cost of Equipment purchased during the year (10 year estimate useful life, 0 salvage value) $585,000 Calculate Flip's taxable liability for the current year A В C D E 1 Taxable Liability 2 3 4 5 6 7 8 10
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