sing the following information, calculate net profit before tax. $ Sales revenue 300 000 Wages expense 100 000 Depreciation expense 20 000 Dividends declared and paid 80 000 Select one: a. $180 000. b. $100 000.

sing the following information, calculate net profit before tax. $ Sales revenue 300 000 Wages expense 100 000 Depreciation expense 20 000 Dividends declared and paid 80 000 Select one: a. $180 000. b. $100 000.

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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Question

Using the following information, calculate net profit before tax.

	$
Sales revenue	300 000
Wages expense	100 000
Depreciation expense	20 000
Dividends declared and paid	80 000

Select one:

a. $180 000.

b. $100 000.

c. $50 000.

d. None of the above.

Definition Video Definition Accounting method wherein the cost of a tangible asset is spread over the asset's useful life. Depreciation usually denotes how much of the asset's value has been used up and is usually considered an operating expense. Depreciation occurs through normal wear and tear, obsolescence, accidents, etc. Video

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