answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
kakasveta [241]
2 years ago
9

Deep Water Mining added $411 to retained earnings last year on sales of $24,646. The administrative expenses were $4,370, deprec

iation was $812, dividends paid were $285, and the interest expense was $103. What was the cost of goods sold if the firm’s tax rate was 35 percent?
Business
1 answer:
ANTONII [103]2 years ago
6 0

Answer:

It is $18,290.24

Explanation:

Profit after Tax (65%) = addition to retained earnings+dividend paid

                                   = $411 +  $285

                                    = $ 696

Profit before Tax = [100/65] * $ 696

                            = $1070.76

Tax (35%)             = 35% * $1070.76

                            = $374.77

Gross Profit = Profit before tax + Total expenses

                    = $1070.76 + [  $4,370+ $103+ $812]

                    = $6355.76

Cost of Sales= $24,646 -$6355.76

                     = $18,290.24 .

Note

-Dividend is paid is paid from profit after tax

You might be interested in
Mullineaux Corporation has a target capital structure of 64 percent common stock, 9 percent preferred stock, and 27 percent debt
nlexa [21]

Answer:

10.02%

Explanation:

The computation of the WACC is shown below. The formula of WACC is shown below:

= (Weightage of debt × cost of debt)  + (Weightage of preferred stock) × (cost of preferred stock) + (Weightage of  common stock) × (cost of common stock)

= 27% × 7.6% × (1 - 0.40) + 9% × 5.9% + 64% × 12.9%

= 2.052% × (1 - 0.40) + 0.531% + 8.256%

= 10.02%

8 0
2 years ago
Calculate the values for each of the questions. Assume that in each country there are no taxes, international trade, or inflatio
BaLLatris [955]

Answer:

The answer is:

For italy: $35 billion

For Greece: -$40 billion

Explanation:

Injection into the economy = $70 billion.

Government spending multiplier is 1.5.

MPC = $70billion x 1.5

=$105 billion.

Change in Italy's real GDP due to the transfer = $105 billion - $70 billion

= $35 billion.

Greek Government.

Multiplier effect = 1 ÷ (1-MPC)

1 ÷ (1-0.6)

1÷ 0.4

-2.5.

It is negative because it is a reduction in government spending.

Therefore, the final change in real GDP as a result of this decreased spending is

-2.5 x $16 billion

= -$40 billion

3 0
2 years ago
Business analysis is difficult from operational databases. Which of the following is a reason, why? a. Every department has its
Viefleur [7K]

Answer: c. All of these

Explanation:

Business analysis is difficult from operational databases for quite a number of reasons which include but are not limited to:

i. Every department having its own method for recording data - there is a misalignment of data definitions across differnent departments which means that users might not be able to compare data effectively.

ii. Data standards not applying across departments - Different departments usually use different formats to record data again making comparison difficult.

iii. The data, if available, often being incorrect or incomplete - missing data across departments due to lack of set standards can again make comparisons difficult.

Therefore all of the options are correct.

3 0
2 years ago
J. Arthur has a capital balance of $80,000 and E. Joseph has a capital balance of $100,000 in their partnership as of June 30. O
Aliun [14]

Answer:

Debit Cash $20,000

Credit M. Alice capital $20,000

Explanation:

We recognize the admission of new partner by debiting the cash that the partnership received in the amount of $20,000 and then record the interest of the new partner by crediting her capital, M. Alice, capital $20,000. Basically, the old partners will agree as to what amount of interest that the new partner will be credited to the partnership. But in this scenario, the problem is silent as to the agreement of interest that M. Alice will be credited, in effect, the books will recognize M. Alice' interest equal to the cash she invested to the partnership.

5 0
2 years ago
Petrini Corporation makes one product and it provided the following information to help 20) prepare the master budget for the ne
Vitek1552 [10]

Answer:

C) $1,166,000

Explanation:

The sales budgeted will be

unit sales budgeted x unit sales price

we look into the assignment for these numbers:

  • February sales 10,600 units
  • unit sales price $110

And calcualte: 10,6000 units x $110 sales price

Total sales revenue for the month of February 1,166,000

The rest of the data is irrelevant for the question we are given thus, we ignore it.

5 0
2 years ago
Other questions:
  • Taylor wants to generate a graph to show how is she doing at saving. What tool should she use?
    11·2 answers
  • Chelsea purchased her monthly grocery requirements instead of soccer game tickets for the championship match she wanted to see.
    6·2 answers
  • St. Augustine Corporation originally budgeted for $360,000 of fixed overhead at 100% of normal production capacity. Production w
    9·1 answer
  • Galla Inc. operates in a highly competitive market where the market price for its product is $181 per unit. Galla desires a $19
    8·1 answer
  • Your industrial supply company wants to create a data warehouse where management can obtain a single corporate-wide view of crit
    8·1 answer
  • Which of the following is NOT considered a descriptive analysis technique? a. Data fusion b. Data harmonization c. Neural networ
    5·2 answers
  • Christin, the CEO of a national IT manufacturer, was approached by Ultimate Phones, a new company that is marketing a new type o
    14·1 answer
  • Countercyclical monetary policy means that _________________. Select the correct answer below: the Fed lowers interest rates dur
    12·1 answer
  • Management in Life Annabelle and Bettina share a dorm room. They like each other, but they disagree about how often to clean. Ev
    14·1 answer
  • The contribution margin ratio of Kuck Corporation's only product is 75%. The company's monthly fixed expense is $456,000 and the
    5·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!