Business College

1. High Tech Wireless just published its current income statement, which shows net income equal to $240,000. The statement also shows that operating expenses were $500,000 before including depreciation, depreciation was $100,000, and the tax rate was 40 percent. If High Tech has no debt, what were its sales revenues

Answers

Answer 1

Answer:

$240,000

Explanation:

With regards to the above information,

Sales revenue is computed as;

= Operating expenses + Depreciation × Tax rate

Given that;

Operating expenses = $5,00,000

Depreciation = $100,000

Tax rate = 40%

Sales revenue

= ($500,000 + $100,000) × 0.4

= $600,000 × 0.4

= $240,000

Related Questions

Why are short sentences and short paragraphs appropriate for business communication?

Answers

Answer:

Objs. 4 For business communications it is essential to express ideas and facts eloquently. The shorter the sentences and paragraph are, the brief the letter, memo or notice. This will save the reader's and writer's time.

bonds is selling at $1,132, with 15 years to maturity; it makes an annual coupon payment at 8%. 5 years after the issue, the market interest rate declined and the corporation decided to call the bond at $1,080. The face value of the bond is $1,000. What is the Yield to Call on the bonds

Answers

Answer:

6.26%

Explanation:

The yield to call is the rate of return earned by bondholders over the 5-year period before the bonds were called.

It can be determined using excel rate function as well as financial calculator as shown thus:

=rate(nper,pmt,-pv,fv)

nper=the period between bond issuance and the call in years=5

pmt=annual coupon=face value*coupon rate=$1000*8%=80

pv=the initial purchase price=-1132

fv=the price at which the bonds were called after 5 years=1080

=rate(5,80,-1132,1080)=6.26%

Financial calculator:

N=5

PMT=80

PV=-1132

FV=1080

CPT I/Y=6.26%

Rodgers Company gathered the following reconciling information in preparing its May bank reconciliation. Calculate the adjusted cash balance per books on May 31.
Cash balance per books, May 31 $3,457
Deposits in transit 131
Notes receivable and interest collected by bank 853
Bank charge for check printing 47
Outstanding checks 1,567
NSF check 180
a. $3,816.
b. $2,730.
c. $1,195.
d. $1,979.

Answers

Answer:

$4,083

Explanation:

Preparation of the Adjusted Cash Balance per Books on May 31

Adjusted Cash Balance per Books on May 31

Cash Balance per Books on May 31 $3,457

Add Notes Receivable and Interest Collected by Bank $853

Less Bank Charge for Check Printing ($47)

Less NSF Check ($180)

Adjusted Cash Balance per Books on May 31 $4,083

Therefore the Adjusted Cash Balance per Books on May 31 will be $4,083

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