Homework Answers
Answer 1
Net profit before tax = total sale - total cost
Total cost = purchase cost + labour cost + rental cost + utility cost
= 15000 + 19000 + 4800 + 669 = $39469
Net income before tax = $53000- $39469 = $13531
Net income after tax = 13531 - 30% tax = $9472 (approx)
Answer 2
Profitability = Income after tax/total revenue
= 9472/53000 = $0.178
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The following account balances were taken from DJR Company’s
accounting records at December 31, 2021:
Accounts Payable ............ $69,000
Accounts Receivable ......... $56,000
Advertising Expense ......... $33,000
Building .................... $94,000
Cash ........................ $31,000
Common Stock ................ $82,000
Cost of Goods Sold .......... $30,000
Dividends ................... $19,000
Equipment ................... $86,000
Income Tax Expense .......... $17,000
Interest Expense ............ $11,000
Inventory ................... $54,000
Notes Payable ............... $96,000
Rental Revenue .............. $62,000
Retained Earnings ........... $60,000 (at January 1, 2021)
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need help calculating units sold per year, a income
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year, included with detailed cost of goods sold section, and trend
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2017
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