Reference no: EM132918296
Question - Copper Inc. provided the the following data for the year ended December 31, 2019:
1. The beginning merchandise inventory was P92,000 and decreased 20% during the current year.
2. Sales discounts amount to P20,000.
3. 30,000 shares of common stock were outstanding for the entire year.
4. Interest expense was P10,000.
5. The income tax rate is 30%.
6. Cost of goods sold amounts to P500,000.
7. Administrative expenses are 18% of cost of goods sold but only 8% of gross sales.
8. Four-fifths of the operating expenses relate to sales activities.
Required - How much is the Net income (after tax) to be reported in the Income Statement?
|
Competitive advantage of integrated resort
: Before covid-19, we can see a lot of Integated Resort develop in the south east Asia (E.g. Vietnam, Korea), Why? What's the competitive advantage of Integrated
|
|
What is one law you would create to benefit employees
: What is one law you would create to benefit employees? what interest do you have in Labor?
|
|
Explain the customer the level of wine knowledge
: 1. Discuss the characteristics, origins, and production methods of 3 different Australian wines, from; red, white, blended, sparkling, ports, fortified, and des
|
|
Adoption of new information technologies in small businesses
: Compile a review of current literature and debates based on the Adoption of new information technologies in small businesses.
|
|
How much is the Net income reported in the Income Statement
: The beginning merchandise inventory was P92,000 and decreased 20% during the current year. How much is the Net income reported in the Income Statement
|
|
How to calculate npv
: How to calculate NPV with a 6% discount rate over ten years if Jack want to buy a home and willing to pay $40,000 as a down payment. Knowing that the house pric
|
|
What total amount of income from the investments
: What total amount of income from the investments should be reported by the investor in the profit or loss for the year 2020
|
|
Digital marketing campaigns from google analytics
: Why do many businesses choose to get data on their digital marketing campaigns from Google Analytics? List three reasons.
|
|
Core activities in curriculum development
: What are the core activities in curriculum development by referring to cyclical process
|