XYZ Company, a 'for-profit' business,
had revenues of $15 million in 2018. Expenses other than
depreciation...
XYZ Company, a 'for-profit' business,
had revenues of $15 million in 2018. Expenses other than
depreciation totaled 75 percent of revenues, and depreciation
expense was $1.3 million. XYZ Company, must pay taxes at a rate of
40 percent of pretax (operating) income. All revenues were
collected in cash during the year, and all expenses other than
depreciation were paid in cash.
What was XYZ’s profit margin?
A: 2.3%
B: 5.7%
C: 7.5%
D: 9.8%
1 Profits earned in a small business are considered business
income and are taxed at a...
1 Profits earned in a small business are considered business
income and are taxed at a lower rate than personal income.
Ture or False
2 If a business is to be successful in the long run, it must
treat its customers, employees, and community with social:
A integrity
B responsibility
C insight
D interests
E agendas
3 Inflation is a condition characterized by falling prices.
ture or flase
4 The Occupy Movement was considered a global protest against
the private...
XYZ Company, a 'for-profit' business, had revenues of $12
million in 2016. Expenses other than depreciation...
XYZ Company, a 'for-profit' business, had revenues of $12
million in 2016. Expenses other than depreciation totaled 75
percent of revenues, and depreciation expense was $1.5 million. XYZ
Company, must pay taxes at a rate of 40 percent of pretax
(operating) income. All revenues were collected in cash during the
year, and all expenses other than depreciation were paid in
cash.
What was XYZ's total cash flow?
G) See the explanation below to work the problem.
XYZ Company, a 'for-profit' business, had revenues...
G) See the explanation below to work the problem.
XYZ Company, a 'for-profit' business, had revenues of $12
million in 2016.Expenses other than depreciation totaled 75 percent
of revenues, and depreciation expense was $1.5 million.
XYZ Company, must pay taxes at a rate of 40 percent of pretax
(operating) income.
All revenues were collected in cash during the year, and all
expenses other than depreciation were paid in cash.
What was XYZ's net income for the year?
H) XYZ Company,...
XYZ Company, a 'for-profit' business, had revenues of $12
million in 2016. Expenses other than depreciation...
XYZ Company, a 'for-profit' business, had revenues of $12
million in 2016. Expenses other than depreciation totaled 75
percent of revenues. XYZ Company, must pay taxes at a rate of 40
percent of pretax (operating) income. All revenues were collected
in cash during the year, and all expenses other than depreciation
were paid in cash. Depreciation originally was $1.5 million;
however, a change in the depreciation schedule (still within GAAP)
has now made the depreciation expense DOUBLE. Based on this...
Under Armour Inc.
Consolidated Statement
of Income
Dec. 31,
2015
Net Revenues
3,963,313
Cost of goods...
Under Armour Inc.
Consolidated Statement
of Income
Dec. 31,
2015
Net Revenues
3,963,313
Cost of goods sold
2,057,766
Gross profit
1,905,547
Selling, general and
administrative expenses
1,497,000
Income from operations
408,547
Interest expense, net
-14,628
Other expense, net
-7,234
Income before income taxes
386,685
Provision for income taxes
154,112
Net income
232,573
Under Armour Inc.
Consolidated Balance
Sheet
Dec. 31,
2015
Dec. 31,
2014
Assets
Cash and cash equivalents
129,852
593,175
Accounts receivable, net
433,638
279,835
Inventories
783,031
536,714
Prepaid...
In the current year, Niles, an individual, has 70,000 of
ordinary income, a Net Short Term...
In the current year, Niles, an individual, has 70,000 of
ordinary income, a Net Short Term Capital Loss (NSTCL) of 20,000
and a Net Long Term Capital Gain (NLTCG) of 4,200. From his capital
gains and losses, Niles reports:
Question 14 options:
an offset against ordinary income of $3,000 and a NSTCL
carry-forward of $12,800
an offset against ordinary income of $3,000 and a NSTCL
carry-forward of $4,200
an offset against ordinary income of $3,000 and a NSTCL
carry-forward of...
Company X has five business segments in total. The Net Income
(i.e., Profits and Losses) for...
Company X has five business segments in total. The Net Income
(i.e., Profits and Losses) for each of Company X’s five segments is
given below:
Dubai: Loss of $1,000,000
Qatar: Loss of $6,000,000
Kuwait: Profit of $1,000,000
Oman: Loss of $9,000,000
Abu Dhabi: Profit of $800,000
Based on the above information only, which of the above segments
are classified as reportable segments?
Select one:
a. Both Qatar and Oman
b. None of these answers
c. Dubai, Kuwait and Oman
d....
In 2018, Jenny, a single taxpayer, had a $15,000 net short-term
capital loss and taxable income...
In 2018, Jenny, a single taxpayer, had a $15,000 net short-term
capital loss and taxable income of $120,000. In 2019, Jenny has an
$18,000 long-term capital gain on one transaction and no other
capital gain or loss transactions. Which of the statements below is
correct?
a. Jenny has a 2019 $18,000 net capital gain.
b. Jenny has a 2019 $9,000 net capital loss.
c. Jenny has a 2019 $9,000 net capital gain.
d. Jenny has a...