If a firm has revenues of $35,010 and expenses of $20,350, what's the firm's taxable income?...
Homework Answers
Firm's taxable income= Revenues-Expenses
Firm's taxable income=35010-20350
Firm's taxable income= 14660
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If
a firm has revenues of $35,010 and expenses of $20,350, what's the
firm's taxable income?...
The firm has net income of SA million, operating revenues of $265 million, and $20 million...
The firm has net income of SA million, operating revenues of $265 million, and $20 million of interest expense. The fim's tax rate is 20%. What were the firm's operating expenses? O a. $ 225 million Ob.$230 milion 。c. 235 million O d.$ 240 million Oe $250 milliorn
what's the difference between prepaid expenses and unearned revenues? I already know the definition of prepaid...
what's the difference between prepaid expenses and unearned revenues? I already know the definition of prepaid expenses----a company has paid cash but not yet incurred the expenses, and unearned revenues---company has received cash but not yet earned the revenues. Also, whats the exact meaning of bold words above, please give me some examples. Thank you!
Deferred Taxes. Assume that Firm ABC has revenues of $120,000 for both 2017 and 2018. It...
Deferred Taxes. Assume that Firm ABC has revenues of $120,000 for both 2017 and 2018. It also has operating expenses of $40,000 for each of these years. In addition, Firm ABC accrues a loss and related liability of $10,000 for financial reporting purposes because of pending litigation. Firm ABC cannot deduct this amount for tax purposes until it pays the liability, expected in 2018. As a result, a deductible amount will occur in 2018 when Firm ABC settles the liability,...
A firm's income statement included the following data. The firm's average tax rate was 20%. $...
A firm's income statement included the following data. The firm's average tax rate was 20%. $ 9,600 Cost of goods sold Income taxes paid Administrative expenses Interest expense Depreciation 3,600 4,600 2,600 2,600 a. What was the firm's net income? Net income b. What must have been the firm's revenues? Revenues $ c. What was EBIT? EBIT $
d. Refer to your answer to part a when total revenues were $108,000. Calculate the firm's...
d. Refer to your answer to part a when total revenues were
$108,000. Calculate the firm's operating income (or loss) if unit
selling price and variable expense per unit do not change and total
revenues:
1. Increase by $15,000
2. Decrease by $10,000
Prepare a contribution margin format income statement; answer what-if questions Shown here is an income statement in the traditional format for a firm with a sales volume of 18,000 units: $108,000 60,400 $ 47,600 Revenues... Cost of...
of a company during a a firm's gross income, expenses, net income, and the income that...
of a company during a a firm's gross income, expenses, net income, and the income that is available for distnibution to its preferred and common principles (GAAP) that match the firm's revenues and expenses to the period in and analysts use the information given in the income statement and other financial statements and reports to evaluate the company's financial performance and condition and taxes (EBIT). 3. The company's tax rate remains constant at 40% of its pre-tax income or earnings...
PLEASE EXPLAIN DETAILED STEPS WITH FNANCE CALCULATOR. THANKS Suppose a firm earns $1,250,000 in taxable income....
PLEASE EXPLAIN DETAILED STEPS WITH FNANCE CALCULATOR. THANKS Suppose a firm earns $1,250,000 in taxable income. What are the firm's average tax rate? What is the firm's marginal tax rate? (a) Average Tax rate 34%; Marginal Tax Rate 34% (b) Average Tax rate 34%; Marginal Tax rate 39% (c) Average Tax rate 39%; Marginal Tax rate 34% (d) Average tax rate 28.5%; Marginal Tax Rate 34%
1-4 Calculate Net Income for each of the situations below. a. Revenues = $1,350,000; Expenses =...
1-4 Calculate Net Income for each of the situations below. a. Revenues = $1,350,000; Expenses = $950,000. b. Revenues = $1,350,000; Expenses = $950,000; Gains = $10,000 c Revenues = $1,350,000; Expenses = $950,000; Gains $10,000; Losses = $5,000. d. Revenues = $1,350,000; Expenses = $950,000; Losses = $35,000 e. Revenues = $1,350,000; Expenses = $1,450,000; Gains = $10,000 f. Revenues $1,350,000; Expenses = $1,450,000; Losses = $10,000.
Corporate taxable income is based on an income statement that is similar to income statements prepared...
Corporate taxable income is based on an income statement that is similar to income statements prepared for financial reporting. It has Revenues less expenses equals income. How is the computation for personal taxable income different from this income statement concept? Why do you think these differences exist?
1-4 Calculate Net Income for each of the situations below. a. Revenues = $1,350,000; Expenses =...
1-4 Calculate Net Income for each of the situations below. a. Revenues = $1,350,000; Expenses = $950,000. b. Revenues = $1,350,000; Expenses = $950,000; Gains $10,000 c Revenues = $1,350,000; Expenses = $950,000; Gains = $10,000; Losses = $5,000. d. Revenues $1,350,000; Expenses = $950,000; Losses = $35,000. e. Revenues = $1,350,000; Expenses = $1,450,000; Gains $10,000 f. Revenues = $1,350,000; Expenses = $1,450,000; Losses = - $10,000. 1-5. Explain the concept of equity.
The firm has net income of SA million, operating revenues of $265 million, and $20 million of interest expense. The fim's tax rate is 20%. What were the firm's operating expenses? O a. $ 225 million Ob.$230 milion 。c. 235 million O d.$ 240 million Oe $250 milliorn
Deferred Taxes. Assume that Firm ABC has revenues of $120,000 for both 2017 and 2018. It also has operating expenses of $40,000 for each of these years. In addition, Firm ABC accrues a loss and related liability of $10,000 for financial reporting purposes because of pending litigation. Firm ABC cannot deduct this amount for tax purposes until it pays the liability, expected in 2018. As a result, a deductible amount will occur in 2018 when Firm ABC settles the liability,...
A firm's income statement included the following data. The firm's average tax rate was 20%. $ 9,600 Cost of goods sold Income taxes paid Administrative expenses Interest expense Depreciation 3,600 4,600 2,600 2,600 a. What was the firm's net income? Net income b. What must have been the firm's revenues? Revenues $ c. What was EBIT? EBIT $
d. Refer to your answer to part a when total revenues were
$108,000. Calculate the firm's operating income (or loss) if unit
selling price and variable expense per unit do not change and total
revenues:
1. Increase by $15,000
2. Decrease by $10,000
Prepare a contribution margin format income statement; answer what-if questions Shown here is an income statement in the traditional format for a firm with a sales volume of 18,000 units: $108,000 60,400 $ 47,600 Revenues... Cost of...
of a company during a a firm's gross income, expenses, net income, and the income that is available for distnibution to its preferred and common principles (GAAP) that match the firm's revenues and expenses to the period in and analysts use the information given in the income statement and other financial statements and reports to evaluate the company's financial performance and condition and taxes (EBIT). 3. The company's tax rate remains constant at 40% of its pre-tax income or earnings...
1-4 Calculate Net Income for each of the situations below. a. Revenues = $1,350,000; Expenses = $950,000. b. Revenues = $1,350,000; Expenses = $950,000; Gains = $10,000 c Revenues = $1,350,000; Expenses = $950,000; Gains $10,000; Losses = $5,000. d. Revenues = $1,350,000; Expenses = $950,000; Losses = $35,000 e. Revenues = $1,350,000; Expenses = $1,450,000; Gains = $10,000 f. Revenues $1,350,000; Expenses = $1,450,000; Losses = $10,000.
1-4 Calculate Net Income for each of the situations below. a. Revenues = $1,350,000; Expenses = $950,000. b. Revenues = $1,350,000; Expenses = $950,000; Gains $10,000 c Revenues = $1,350,000; Expenses = $950,000; Gains = $10,000; Losses = $5,000. d. Revenues $1,350,000; Expenses = $950,000; Losses = $35,000. e. Revenues = $1,350,000; Expenses = $1,450,000; Gains $10,000 f. Revenues = $1,350,000; Expenses = $1,450,000; Losses = - $10,000. 1-5. Explain the concept of equity.
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