How much is the sales of abc corporation in october

Assignment Help Accounting Basics
Reference no: EM132680699

The ABC Corporation began operations on October 1. During October, the purchased 1,500 pairs of gloves at a cost of $30 per pair. By the end of October, the company had sold all the gloves for $42 per pairs. The company's operating expenses for october were 8,000 and its effective income tax rate was 40%.

Problem 1. How much is the sales of ABC Corporation in October?

Problem 2. How much is the cost of goods sold of Chang Corporation in October?

Problem 3. How much is the gross profit of the company for October?

Problem 4. Determine the company's income before taxes.

Problem 5. Determine the company's income after tax.

Reference no: EM132680699

Questions Cloud

Find how is the iability allocated : Find How is the $300,000 liability allocated? The equal AB partnership's only asset is Building #1, which has a fair market value of $800,000
How are gblocks different than primers : How are GBlocks different than Primers?
Contrast the passage of polar versus non polar : Compare and contrast the passage of polar versus non polar substances across the plasma membrane. (use images attached below and rubric)
What are roles of the intelligence agencies in new jersey : What are the roles of the intelligence agencies in New Jersey? What can be done to prevent terrorist attacks in the future in New Jersey?
How much is the sales of abc corporation in october : ABC Corporation, How much is the cost of goods sold of Chang Corporation in October? How much is the sales of ABC Corporation in October?
What phenotypic ratio would you observe : In Drosophila, the genes for eye color and type of wing vein are very closely linked. The normal wild type alleles, R and N, are both dominant and result in red
Question - Compute Net income : Question - Compute Net income - Beginning stockholders' equity $31,200 and Ending stockholders' equity 40,500
Which wmds are the most dangerous and why : Which WMDs are the most dangerous and why? Describe the constraints on terrorist groups preventing them from using WMDs. The response must be typed.
Analysis of current financial position and recent financial : Analysis of the current financial position and recent financial performance of the company. The report should comment on whether the bank should provide ARG Inc

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.

  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!

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