User Account

All Pages

What is the net income for a given accounting period

Assignment Help Financial Accounting
Reference no: EM132809155

Problem 1: Given the following income statement, what is the net income for a given accounting period assuming taxes are $25,000?

Item$

RevenuesSales200,000

Expenses15,000

Interest expense5,000

Cost of goods sold60,000

Pre-tax income60,000

Net income

A. $120,000
B. $60,000
C. $35,000
D. $140,000
E. $95,000

Reference no: EM132809155

Questions Cloud

Analyze the elements in the labor relations process : Analyze the elements in the labor relations process and explain the connection.
Prepare the journal entry to record the payment of interest : Prepare the journal entry to record the issuance. Prepare the journal entry to record the payment of interest on June 30th, 2005 and December 31st, 2005.
Reliance on the employment-at-will : Identify how over reliance on the employment-at-will (EAW) doctrine can create problems for supervisors and employees.
Effectiveness of training and development programs : What criteria should be used in order to measure the effectiveness of training and development programs?
What is the net income for a given accounting period : What is the net income for a given accounting period assuming taxes are $25,000? Cost of goods sold60,000.RevenuesSales200,000
Comparison between the two groups of infants : The coronal cross sectional area of the left deltoid muscle (DCSA) was compared between prematurely-born and term-born infants.
Prepare the schedule of expected cash collections budget : Prepare the Schedule of Expected Cash Collections Budget for next fiscal year. Michael Scott Paper Company has begun it's first year of operations.
Why is performance evaluation necessary for all staff : What steps can a healthcare manager take to deal with staff turnover?
Find bep in units and dollars : Calculate how many units must be sold to get a profit of $156,000. Calculate margin of safety if actual sales are 6,000 units.BEP in units and Dollars

Reviews

Write a Review

Financial Accounting Questions & Answers

  Financial statement analysis and preparation

Financial Statement Analysis and Preparation

  Shareholder of a company

Describe the ways that a person can become a shareholder of a company. Why Wal-Mart would split its stock?

  Financial and accounting principles

An understanding of financial and accounting principles can be a valuable tool for managers. While not all managers will find themselves calculating financial ratios or preparing annual financial data.

  Prepare a statement of cash flow using the direct method

Prepare a Statement of Cash Flow using the Direct Method and Prepare the Operations section of the Statement of Cash Flow using the Indirect Method.

  Financial accounting assignment

This assignment has one case study and two question apart from case study. Questions related to document Liquidation question and Company financial statements question - Torquay Limited

  Prepare general journal entries for goela

Prepare general journal entries for Goela Ltd

  Principles of financial accounting

Prepare the journal entry to record the acquisition of the assets.

  Prepare general journal entries to record the transactions

Prepare general journal entries to record the transactions, assuming use of the periodic inventory system

  Global reporting initiative

Compare the view espoused by the economist Milton Friedman about the social responsibilities of business with the views express by Stigler.

  Explain the iasb conceptual frameworks

Explain the IASB Conceptual Framework's perspective of users and their decisions.

  Determine the company''s financial statements

T he focus of the report is to determine the extent to which you are comfortable relying on the financial statements as presented by management .

  Computation of free cash flow

Computation of Free Cash Flow

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