Jim Goodman, and employee at Walgreens, earned $45,000, an increase of 17.5% over the previous year. What were Jim's earnings the previous year?
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Jim Goodman, and employee at Walgreens, earned $45,000, an increase of 17.5% over the previous year. What were Jim's earnings the previous year? Round to the nearest cent.
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- Jim Goodman, an employee at Walgreens earned $40,300, an increase of 17.5% over the previous year. What were Jim's earnings the previous year?In March of the current year, Mooney Company estimated its year-end executive bonuses to be $800,000. The executive bonus paid in the previous year was $950,000. What amount of bonus expense, if any, should Mooney recognize in determining net income for the first quarter of the current calendar year?a. –0–b. $200,000c. $237,500d. $800,000Lemon Auto Wholesalers had sales of $1,400,000 last year, and the cost of goods sold represented 77 percent of sales. Selling and administrative expenses were 13 percent of sales. Depreciation expense was $10,000 and interest expense for the year was $9,000. The firm’s tax rate is 30 percent.a. Compute earnings after taxes.
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