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2 years ago

List the steps of the decision making process with the first step on top

1 answer:

8 0

1. identify decision
2. gather information
3. identify alternatives
4. weigh the evidence
5. choose among alternatives
6. take action
7. review your decision

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Patterson Brothers recently reported an EBITDA of $16.5 million and net income of $2.6 million. It had $2.0 million of interest

maria [59]

Answer:

Depreciation and amortization = $10,500,000

Explanation:

EBT = Net Income / (1 - Tax rate)

EBT = 2,600,000 / (1 - 0.35)

EBT = $4,000,000

EBIT = EBT + Interest

EBIT = $4,000,000 + $2,000,000

EBIT = $6,000,000

EBIT = EBITDA - Depreciation and amortization

$16,500,000 = $6,000,000 - Depreciation and amortization

Depreciation and amortization = $16,500,000 - $6,000,000

Depreciation and amortization = $10,500,000

7 0

2 years ago

Winn Co. sells subscriptions to a specialized directory that is published semiannually and shipped to subscribers on April 15 an

sergeinik [125]

Answer:

O $ 900,000

Explanation:

When a fee is received in advance for a service yet to be rendered, the revenue for such fee is said to be unearned. The entries required are

Debit Cash account and Credit Unearned fees or deferred revenue.

As the service is performed and the revenue is earned, debit Unearned fees and credit revenue.

Given that

the specialized directory that is published semiannually and shipped to subscribers on April 15 and October 15 and

Subscriptions received after the March 31 and September 30 cutoff dates are held for the next publication and

Cash from subscribers is received evenly during the year and is credited to deferred subscription revenue

The amount to be deferred is the sum of the amounts collected after September 30 (from October to December year 2

= 3/12 * $3,600,000

= $900,000

4 0

2 years ago

Jack, an employee of Desert Sky, Inc., has gross salary for May of . The entire amount is under the OASDI limit of $118,500 a

Zanzabum

Answer:

Credit to Cash for $4,995 is correct

Explanation:

here is a complete question

has a gross salary for May of $7,000. The entire amount is under the OASDI limit of $118,500 and thus subject to FICA. He is also subject to federal income tax at a rate of 21%. Which of the following is a part of the journal entry to record the disbursement of his net pay? (Assume a FICA-OASDI Tax of 6.2 % and FICA-Medicare Tax of 1.45%. Round the final answer to the nearest dollar.) A. debit to Cash for $4,995 B. debit to FICA Tax Payable of $4,995 O C. debit to Employee Income Tax Payable of $4,995 D. credit to Cash for $4,995

The computation of the amount that becomes the part for accrual the employer payroll taxes is shown below:

Gross Pay $7,000

Less: Deductions

Federal Income tax $1,470 ($7000 × 21%)

FICA-OASDI tax $434 ($7000 × 6.2%)

FICA-Medicare tax $102 ($7,000 × 1.45%)

Total Deductions 2006

Net pay $4,995

4 0

2 years ago

A corporation’s articles of incorporation can be changed relatively easily. True False

Stels [109]

Answer:

False

Explanation:

Nothing is ever easy

7 0

2 years ago

Inventory records for Herb's Chemicals revealed the following:

antiseptic1488 [7]

Answer:

Inventory= $5,040

Explanation:

Giving the following information:

March 1, 2021, inventory: 1,000 gallons @ $7.20 per gallon = $7,200

Purchases:

Mar. 10 600 gals @ $ 7.25

Mar. 16 800 gals @ $ 7.30

Mar. 23 600 gals @ $ 7.35

Sales:

Mar. 5 400 gals

Mar. 14 700 gals

Mar. 20 500 gals

Mar. 26 700 gals

Total units= 3,000

Total sales= 2,300

Ending inventory= 700 units

LIFO (last-in, first-out)

Inventory= 700*7.20= $5,040

8 0

2 years ago