User Account

All Pages

Compute the before tax profit in ending inventory

Assignment Help Accounting Basics
Reference no: EM132613211

Question - During 2019, X Company which is 90% owned by Y Company, sold inventory to its parent for $1,000,000 at a 25% mark-up-on-cost and 30% of these goods remained in Y's inventory at year-end. Both companies enjoy a tax rate of 40% and have fiscal year ends on December 31st. Inventory turns frequently during the course of the year.

Required - Compute the before tax profit in ending inventory?

1. $75,000

2. $60,000

3. $45.000

4. $36,000

Reference no: EM132613211

Questions Cloud

Social phenomenon on drug abuse from macro : what you've learned regarding impact of social phenomenon (for instance, social inequality, social deviance,) on drug abuse from macro and micro perspectives
Article on employee engagement : Conduct research to locate an article on employee engagement. The article needs to be from a business publication.
Calculate the profit for the year : Calculate the profit for the year if capital at the beginning is $35,000, capital at the end is $40,000 and during the year the owner withdrew $15,000
What is disruptive change and incremental change : What is "disruptive change," and how is this different from "incremental change?" How does disruptive change affect an organization?
Compute the before tax profit in ending inventory : During 2019, X Company which is 90% owned by Y Company, sold inventory to its parent for $1,000,000, Compute the before tax profit in ending inventory
Leadership skills-implement several unpopular changes : The challenge for this chapter presents a case of a manager who must implement several unpopular changes
Develop the payoff table for this decision situation : Develop the payoff table for this decision situation and compute the expected value for each alternative and identify the best decision
What are the factors considered in determining fees : What are the factors considered in determining fees? How are they billed to clients? Is advertising allowed in the Philippines
Explain the design process of this new product in detail : Suppose you are working within a product development team at a highly innovative company. Explain the design process of this new product in detail

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Theory of interest - term structure of interest rates

Term Structure of Interest Rates

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd