Business, 26.01.2021 03:20 brillamontijo
Sparty Corporation has provided the following information for its most recent year of operation:
Revenues earned were $97,000, of which $9,000 were uncollected at the end of the year. Operating expenses incurred/used were $39,000, of which $7,000 were unpaid at the end of the year.
Dividends declared were $11,000, of which $3,000 were unpaid at the end of the year.
Income tax expense is $17,400.
What is the amount of net income reported on Sparty's income statement?
A. $32,900.
B. $39,300.
C. $33,600.
D. $58,000.
E. $40,600
Answers: 2
Business, 21.06.2019 15:50, michellelirett
Aceramics manufacturer sold cups last year for $7.50 each. variable costs of manufacturing were $2.25 per unit. the company needed to sell 20,000 cups to break even. net income was $5,040. this year, the company expects the price per cup to be $9.00; variable manufacturing costs to increase 33.3%; and fixed costs to increase 10%. how many cups (rounded) does the company need to sell this year to break even?
Answers: 2
Business, 22.06.2019 11:30, fjjjjczar8890
Which of the following statements about cash basis accounting is true? a. it is more complicated than accrual basis accounting. b. the irs allows all types of corporations to use it. c. it follows gaap standards. d. it ensures the company always knows how much cash flow it has.
Answers: 2
Sparty Corporation has provided the following information for its most recent year of operation:
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