Last year, the sales at Jersey Company were $200,000 and were all cash sales. The tax-deductible...
Last year, the sales at Jersey Company were $200,000 and were all cash sales. The tax-deductible expenses at Jersey were $125,000 and were all cash expenses. The tax rate was 30%. What was the after-tax net cash inflow at Jersey last year from these operations?
Select one:
a. $22,500.
b. $60,000.
c. $52,500.
d. $37,500.
Homework Answers
Calculate after tax net cash inflow
| Cash sales | 200000 |
| Cash expense | 125000 |
| Before tax | 75000 |
| Tax | 22500 |
| After tax | 52500 |
So answer is c) $52500
Add Answer to:
Last year, the sales at Jersey Company were $200,000 and were
all cash sales. The tax-deductible...
Cash Coverage, Inc. had net sales of $700,000 last year, and increased its retained earnings by...
Cash Coverage, Inc. had net sales of $700,000 last year, and increased its retained earnings by $75,000 for the year after paying a dividend of $2 per share on 37,500 outstanding shares. The tax rate for the company is 40%. The company had cost of goods sold of $275,000 and its accumulated depreciation increased by $125,000. What is its cash coverage ratio?
Newfangled Dangle Systems had earnings after tax of $1,000,000 last year. Included in its expenses were...
Newfangled Dangle Systems had earnings after tax of $1,000,000 last year. Included in its expenses were $50,000 of interest, $100,000 of deferred taxes, and $150,000 of depreciation. In addition, the company paid dividends of $200,000 to its stockholders last year. What was Newfangled’s aftertax cash flow last year?
ABC company has budgeted $100,000 of sales for January Sales are 80% cash and 20% on...
ABC company has budgeted $100,000 of sales for January Sales are 80% cash and 20% on credit Credit sales are collected 100% in the month following the sale A/R at Dec 31 = $15,000 What are the cash collections for January? Select one: O $15,000 none of the answers is correct $95,000 O $100,000 ABC company has budgeted $200,000 of sales for January. Sales are 80% credit and 20% cash Credit sales are collected 100% in the month following the...
Divisional Income Statements The following data were summarized from the accounting records for Jersey Coast Construction...
Divisional Income Statements The following data were summarized from the accounting records for Jersey Coast Construction Company for the year ended June 30, 2018: Cost of goods sold: Commercial Division Service department charges: Commercial Division Residential Division $912,250 423,675 $112,560 67,830 Residential Division Administrative expenses: Commercial Division Residential Division $149,800 128,625 Net sales: Commercial Division Residential Division $1,354,500 743,780 Prepare divisional income statements for Jersey Coast Construction Company Jersey Coast Construction Company Divisional Income Statements For the Year Ended June...
A company is considering a three-year project. New equipment will cost $200,000. The equipment falls in...
A company is considering a three-year project. New equipment will cost $200,000. The equipment falls in the MACRS three-year class (.3333, .4445, .1481, .0741) it will have a salvage value at the end of the Project of $50,000. The project is expected to produce sales of $100,000 in the first year and sales will increase by $50,000 each year after that. Expenses are expected to be 40% of sales. An investment in net-working capital of $5000 is required at the...
A company is considering a three-year project. New equipment will cost $200,000. The equipment falls in...
A company is considering a three-year project. New equipment will cost $200,000. The equipment falls in the MACRS three-year class (.3333, .4445, .1481, .0741) it will have a salvage value at the end of the project of $50,000. The project is expected to produce sales of $100,000 in the first year and sales will increase by $50,000 each year after that. Expense are expected to be 40% of sales. An investment in net-working capital of $5,000 is required at the...
Sheryl's Shipping had sales last year of $12,000. The cost of goods sold was $6,900, general...
Sheryl's Shipping had sales last year of $12,000. The cost of goods sold was $6,900, general and administrative expenses were $1,400, interest expenses were $900, and depreciation was $1,400. The firm's tax rate is 21%. a. What are earnings before interest and taxes? Earnings before interest and taxes $ 2300 b. What is net income? Net income c. What is cash flow from operations? Cash flow from operations
Instructions The following data were summarized from the accounting records for Jersey Coast Construction Company...
Instructions The following data were summarized from the accounting records for Jersey Coast Construction Company for the year ended June 30, 20Y8: Cost of goods sold Commercial Division $912,000 Residential Division 439,875 Administrative expenses Commercial Division $149,400 Residential Division 129,575 Service department charges:. Commercial Division $113,760 Residential Division 67,830 Sales Commercial Division $1,364,500 Residential Division 750,060 Prepare divisional income statements for Jersey Coast Construction Company. Refer to the Amount Descriptions list provided for the exact wording of the answer choices...
$ $ $ Presented below is information related to Victor Company at December 31, 2019, the...
$ $ $ Presented below is information related to Victor Company at December 31, 2019, the end of its first year of operations. In addition to the information presented below, assume 200,000 shares of stock were outstanding during 2019. Also assume a tax rate of 30% on all item Administrative expenses $ 52,500 Gain on sale of investments 25,000 Casualty loss $ 10,000 Interest expense 33,750 Cost of Goods Sold $ 900,000 Interest revenue 15,000 Cumulative decrease in icome from...
Mar Apr. 31 Recorded cash sales of $160,000, plus sales tax of 8% collected for the...
Mar Apr. 31 Recorded cash sales of $160,000, plus sales tax of 8% collected for the state of New Jersey. 6 Sent March sales tax to the state. Journalize the transactions for the company. Ignore cost of goods sold. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Mar, 31: Recorded cash sales of $160,000, plus sales tax of 8% collected for the state of New Jersey. (Prepare a single compound entry...
ABC company has budgeted $100,000 of sales for January Sales are 80% cash and 20% on credit Credit sales are collected 100% in the month following the sale A/R at Dec 31 = $15,000 What are the cash collections for January? Select one: O $15,000 none of the answers is correct $95,000 O $100,000 ABC company has budgeted $200,000 of sales for January. Sales are 80% credit and 20% cash Credit sales are collected 100% in the month following the...
Divisional Income Statements The following data were summarized from the accounting records for Jersey Coast Construction Company for the year ended June 30, 2018: Cost of goods sold: Commercial Division Service department charges: Commercial Division Residential Division $912,250 423,675 $112,560 67,830 Residential Division Administrative expenses: Commercial Division Residential Division $149,800 128,625 Net sales: Commercial Division Residential Division $1,354,500 743,780 Prepare divisional income statements for Jersey Coast Construction Company Jersey Coast Construction Company Divisional Income Statements For the Year Ended June...
Sheryl's Shipping had sales last year of $12,000. The cost of goods sold was $6,900, general and administrative expenses were $1,400, interest expenses were $900, and depreciation was $1,400. The firm's tax rate is 21%. a. What are earnings before interest and taxes? Earnings before interest and taxes $ 2300 b. What is net income? Net income c. What is cash flow from operations? Cash flow from operations
Instructions The following data were summarized from the accounting records for Jersey Coast Construction Company for the year ended June 30, 20Y8: Cost of goods sold Commercial Division $912,000 Residential Division 439,875 Administrative expenses Commercial Division $149,400 Residential Division 129,575 Service department charges:. Commercial Division $113,760 Residential Division 67,830 Sales Commercial Division $1,364,500 Residential Division 750,060 Prepare divisional income statements for Jersey Coast Construction Company. Refer to the Amount Descriptions list provided for the exact wording of the answer choices...
$ $ $ Presented below is information related to Victor Company at December 31, 2019, the end of its first year of operations. In addition to the information presented below, assume 200,000 shares of stock were outstanding during 2019. Also assume a tax rate of 30% on all item Administrative expenses $ 52,500 Gain on sale of investments 25,000 Casualty loss $ 10,000 Interest expense 33,750 Cost of Goods Sold $ 900,000 Interest revenue 15,000 Cumulative decrease in icome from...
Mar Apr. 31 Recorded cash sales of $160,000, plus sales tax of 8% collected for the state of New Jersey. 6 Sent March sales tax to the state. Journalize the transactions for the company. Ignore cost of goods sold. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Mar, 31: Recorded cash sales of $160,000, plus sales tax of 8% collected for the state of New Jersey. (Prepare a single compound entry...
Most questions answered within 3 hours.
-
(CO 2) A field can be added to a report to
values for two or more...
asked 41 minutes ago -
Identify 3 research scenarios that might provide a low,
medium, and high degree of variability in...
asked 1 hour ago -
how
does gravity affect the trajectory of projectile? what would be the
shape of the trajactory...
asked 1 hour ago -
Two small plastic spheres are given positive electrical charges.
When they are a distance of 15.4...
asked 2 hours ago -
An acidic solution containing gold ions is
electrolyzed, producing gaseous oxygen (from water) at the anode...
asked 2 hours ago -
Assume that the population of Mexico is 128
million and that the population increases 1.01
percentannually....
asked 3 hours ago -
Can someone please help me add appropriate descriptive
comments to each line of code in the...
asked 3 hours ago -
Romeo wishes to throw a bouquet of flowers to Juliet, who is on
a second-story balcony,...
asked 4 hours ago -
Why is QE a controversial monetary policy tool.
A. It may lead to excessive inflation.B. By...
asked 4 hours ago -
Principles of Programming midterm study guide help!
1.)
______ Which of the following would reference the...
asked 4 hours ago -
A finite potential well has depth U0 = 2.78 eV . What is the
penetration distance...
asked 5 hours ago -
1. The bus bars of a power station are in two sections A and B
separated...
asked 5 hours ago