82.Use the following information (in thousands):Service RevenueIncome from continuing operationsNet Income¥1,600,000⚫200,000180,000440,000Selling & administrative expenses1,000,000Income from operationsIncome before income taxDetermine the amount of income tax.a. ¥40,000b. ¥20,000c. ¥200,000d. ¥160,000400,000

Step 1: Understand the information. We are provided with a variety of financial information for the…

Answered: 82. Use the following information (in…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Use the following information (in thousands): Service Revenue ¥1,600,000 Income from continuing operations 200,000 Net Income 180,000 Income from operations 440,000 Selling & administrative expenses 1,000,000 Income before income tax 400,000 Determine the amount of other income and expense. ¥40,000 ¥160,000 ¥200,000 ¥20,000
Use the following information (in thousands):Service Revenue¥1,600,000 Income from continuing operations200,000 Net Income180,000 Income from operations440,000 Selling & administrative expenses1,000,000 Income before income tax400,000Determine the amount of other income and expense
Use the following information (in thousands):a. ¥126,000 d. ¥63,000Answer:1Sales revenue¥300,000 Gain on sale of equipment90,000 Cost of goods sold164,000 Interest expense16,000 Selling & administrative expenses30,000 Income tax rate30%Determine the amount of net income.
Use the following information (in thousands): Service Revenue ¥1,600,000 Income from continuing operations 200,000 Net Income 180,000 Income from operations 440,000 Selling & administrative expenses 1,000,000 Income before income tax 400,000 Determine the amount of financing costs. O ¥200,000 O ¥20,000 O ¥160,000 O ¥40,000
COURSE: ACCOUNTABILITY Alpha Company reports $125,636,256 as revenue from ordinary activities and the cost of ordinary activities corresponds to 30% over revenue, what is the gross margin?Select one:a. $42,669,159b. $37,690,877c. $87,945,379d. $21,636,639e. $39,696,101
Consider the following given information below: Total Income P1,321,000 Total Distribution Cost 268,900 Total Administrative Cost 250,200 Other Expenses 8,000 Interest Expense 9,000 Total Expenses 536,100 Income Tax Expense 235,500 What is the amount of income before tax to be reflected in the income statement?
Takaful company has the following information: Earned contributions SR 500 Net claim incurred SR 100 Cash SR 50 Short-term investment SR 150 Average assets SR 1500 Total expenses SR 200 Net income SR 100 Gross contributions SR 600 Net contributions SR 550 What is expense ratio? а. 40% b. 30% С. 36.3% d. 50%
Please answer very fast then i ll upvote Calculate EBIT. Revenue 1,061,751.0 Cost of sales 690,135.0 Selling, general and administration 53,087.0 Other income 11,796.0 Operating income 330,325.0 Interest expense 19,874.0 Profit before tax 310,451.0 Tax expense 46,500.0 Net income 263,951.0 The footnotes mention the following: Cost of sales includes inventory write off costs 39,677.0 Cost of sales includes distribution costs 120,458.0 SG&A includes corporate restructuring expenses 15,570.0 Responses 385,572.0 275,078.0 330,325.0 506,030.0
Astercor, Inc. reported the following during the year. • P 400,000 proceeds of life insurance of an officer where Antercor is the beneficiary (P600,000 still uncollected.) • P800,000 interest income, exclusive of P200,000 uncollected and accrued interest • P300,000 increase in value of investment in stocks 8. Compute the gross income under cash basis. а. Р 800,000 b. P ОБ.Р1,000,000 c. P 1,200,000 O d. P1,400,000
Revenues 800,000Income from continuing operations 100,000Comprehensive income 120,000Net income 90,000 Income from operations 220,000Selling and administrative expenses 500,000Income before income tax 200,000Required: Calculate the following: i. Other income and expenses ii. Financing costs iii. Income tax iv. Discontinued operations v. Other comprehensive income
44- Calculate net profit from the following? Net sales OMR 100000, Cost of goods sold OMR 40000, Rent received OMR 20000, Salaries OMR 10000, Insurance OMR 6000 and Depreciation OMR 8000. a. OMR 64000 b. OMR 70000 c. OMR 56000 d. OMR 60000
The following are line items from the vertical analysis of an income statement: Total revenues Total expenses Net income Amount $600 400 $200 Percent 300% 200% 100% What needs to be changed on the statement? O a. The percentage for net income should be 25%. O b. The percentage for total expenses should be 33%. O c. Total revenues should be the base expressed as 100%. O d. The percentage for total expenses should be 50%.

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