Andre's Bakery has sales of $100,000 with costs of $50,000. Interest expense is $20,000 and depreciation is $10,000. The tax rate is 35 percent. What is the amount of tax paid?

Q: Toodles Inc. had sales of $1,840,000. Cost of goods sold, administrative and selling expenses, and…

A: As posted multiple independent questions we are answering only first question kindly repost the…

Q: 0.  It had been depreciated to $3,000.  The original purchase price was $6,000.  Your tax rate is…

A: The right answer is option D$4.600

Q: Leo's townhouse has a market value of $310,000. The property in Leo's area is assessed at 40% of the…

A: The market value of townhouse is $310,000.The property is assessed at 40% of market value.

Q: (EBIT).

A: Tax is calculated by subtracting EBIT minus the interest expense & multiplied by the respective…

Q: Little Books, Inc. recently reported $3 million of net income. Its EBIT was $6 million, and its tax…

A: Calculation of interest expenses:Given, tax rate is 40% then, Net income will be 60%Net income is…

Q: Collin Krafts has sales of $820,000 and costs of $530,000. Interest expense is $35,000. The tax rate…

A: Statement of comprehensive income: It is a statement that reflects both, standard income and…

Q: bugh Syron Books Inc. recently reported $18 million of net income. Its EBIT was $25.2 million, and…

A: First we need to calculate earning before tax by using this equation Earning before tax =Net…

Q: XYZ Corporation, a manufacturer, has a gross sales of P190M for CY 2021, its 2nd year of operation.…

A: Income tax is a direct tax levied by the government on the income of the individuals when it crosses…

Q: How much tax is Bison Co.'s tax expense, if it has $365,000 in gross income realized, $10,000…

A: The company's aim will be to increase the profitability. The profitability of the company can be…

Q: come tax.   Please consider the following information: Rent income received in advance P150,000…

A: Solution: The permanent difference "Interest income on time deposit  200,000".

Q: MENT Byron Books Inc. recently reported $13 million of net income. ItsEBIT was $20.8 million, and…

A: The computation of taxable income: Hence, the taxable income is $20,000,000.

Q: Magnus Corporation has $120,000 of revenues for the year. They also have the following expenses…

A: Corporate taxable income=Gross Income-Allowable Deductions

Q: Molteni Motors Inc. recently reported $6 million of net income. Its EBIT was$13 million, and its tax…

A: Operating income (EBIT) is the firm’s earnings before deducting the interest and tax expenses. It is…

Q: Byron Books Inc. recently reported $18 million of net income. Its EBIT was $30.1 million, and its…

A: Here in this question, we are required to calculate the EBIT and interest expense. Earnings before…

Q: Assuming Builtrite had taxable income of $14,000,000. If Builtrite had $60,000 in interest expense,…

A: Taxable income refers to the income which is subject to tax as per the government's regulations. All…

Q: At the end of the year, Badger Corporation has pretax financial income of $550,000. Included in the…

A: Income taxes payable are described as the amount which a person or business is liable to pay to the…

Q: GOODS AND SERVICE TAX For the following consider whether it is a Taxable Supply, Input Taxed or GST…

A:

Q: Bryon Brooks Inc. recently reported 15 million of net income. Its EBIT was 20.8 million, and its tax…

A: Net Income: Net Income is calculated as sales minus cost of goods sold, selling, general and…

Q: Trade receivables have a carrying amount of P4,000. The related revenue has already been included in…

A: SOLUTION TAX BASE OF RECEIVABLES = IF RECEIVES PAYMENT OF RECEIVABLE HAS NO TAX CONSEQUENCES , ITS…

Q: Armitage Inc. has earned gross receipts of about $10 million for the past 3 years. This year it…

A: Business interest expense for the year is that amount which is properly allocable to both an…

Q: How much tax is Bison Co's tax expense, if it has $365,000 in gross income realized, $10,000…

A: Given, Gross Income = $365,000 Interest on Municipal bonds = $8,000 Tax credits = $164,000…

Q: Kaylor Equipment Rental paid $75 in dividends and $511 in interest expense. The addition to retained…

A: Given: Dividend = $75 Interest expense = $511 Retained earning = $418 Net new equity = $500 Tax rate…

Q: 2. Debtor Corporation shows the following data during taxable year: Sales P 500,000 Interest Income,…

A: Deductions means those items that are deducted from the gross income of the company. The deductions…

Q: 5. If the corporation pays corporate income tax at a rate of 30% and it wants to earn after tax…

A: Since you have posted a question with multiple sub-parts, we will solve the first three subparts for…

Q: Useful Life Fixed Assets Cost Accounting Fiscal Land 2,000,000,000 1,800,000,000 50 Building Factory…

A: Deferred tax: Deferred tax is the tax effect of the timing difference. The difference between…

Q: Local Co. has sales of $10.3 million and cost of sales of $6.1 million. Its selling, general and…

A: Answer -    Part A -  Given,  Sales = $10.30 million Cost of goods sold = $6.10 million   So, Gross…

Q: 2. Table is given below shows that marginal tax rates for Alejandro Corporation. Taxable Income of…

A: The answer states the computation of Tax liability and average tax rate

Q: Mahigos owns the following businesses:     Annual Gross Receipts Annual Gross Sales Restaurant…

A: The annual Sales are exceeding 3millions hence the 12 VAT is payable on output taxable supply…

Q: Patterson recently reported EBITA of $14.5 million. It had $2.0 million of interest expense, and its…

A: Depreciation: It is the non-cash expenses that is charged against the tangible assets of the…

Q: Staycate Travels Inc. reports a gross profit of $35,000, interest expense of $4,000, a tax rate of…

A: Gross profit (GP) = $ 35000 Interest expenses (I) = $ 4000 Tax rate (T) = 30% Profit after tax (PAT)…

Q: The Good Life Store has sales of $79,600. The cost of goods sold is $48,200 and the other costs are…

A: Net income is the amount left from revenue earned after deducting all the expenses and taxes for the…

Q: he result of recording this allowance is

A: The correct answer is 3.

Q: Mr. Sanchez, a sole proprietor, shows the following: Sales P800,000 Interest income, net of final…

A:

Q: Toodles Inc. had sales of $1,840,000. Cost of goods sold, administrative and selling expenses, and…

A: The question is based on the concept of Financial Management.

Q: The tax on $2,600 of profit on a capital asset is deferred. A person in a 40 percent tax bracket…

A: Assets: Property or things owned by business called Assets.

Q: Patterson Brothers recently reported an EBITDA of $8.5 million and net income of $1.8 million. It…

A: Solution:- EBITDA Stands for:- Earnings before interest tax depreciation and amortization.

Q: 2. Table is given below shows that marginal tax rates for Alejandro Corporation. Taxable Income of…

A: The answer states the computation of tax liability and average tax rate

Q: Pearson brothers recently reported an EDITDA of $7.5 million and net income of $1.8 million.  It had…

A: (EBITDA - interest -depreciation )*(1-tax) = net income  Let depreciation is x

Q: Little Books Inc. recently reported $3 million of net income. Its EBIT was $6 million, and its tax…

A: Calculation of Interest Expense:The interest expense is $1,000,000.Excel Spreadsheet:

Q: Holly Farms has sales of S509,600, costs of $448,150, depreciation expense of $36,100, and interest…

A: Here, Sales is $509,600 Costs is $448,150 Depreciation Expense is $36,100 Interest Paid is $12,400…

Q: The Analtoly Corporation is an electronics dealer and distributor. Sales for the last year were $4.5…

A: Answer 1: Profit on sale of securities=Sale Proceeds-Cost of securities=$120,000-$40,000=$80,000…

Q: Hailey, Inc., has sales of $24200, costs of $8800, depreciation expense of $2600, and interest…

A: Operating cash flow refers to the cash generated by the regular operating activities of a business…

Q: company has $11 million interest expense and the corporate tax rate is 40.0% percent. What was the…

A: EBITDA: EBITDA is also known as earnings/profit before interest, tax, depreciation, and…