Question4 1 pt§ 2017. The tax rate is 25%. Sales Interest Epense $240,000 16,000

Question

Question4 1 pt§ 2017. The tax rate is 25%. Sales Interest Epense $240,000 16,000 Cash $200,000 Revenue$3 Dividends %48.000 Depreciation (40% selling: 60% $60,00O Paid Sales Discounts $1.700,000 $30.0oo $70,000 $84.000 Cost of Goods Sold Sales ReturnS&Allowances; Loss on Sale of South American Gain on Sale of Equipment What is the TOTAL amount of Operating Expenses that ABC would report Question 5 1 pts ABC Company has the following information available on December 31 2017. The tax rate is 25%. Sales $6,000 $16.0OO Cash s200.00O Revenue $240,000 $200,000 $3.00o,00o Interest Expense Interest Revenue Sales Administrative Salaries Dividends $48.ooo Paid 60% Depreciation (40% selling: administrative) $60,000 $1.700,0oo Sales $30,000 $70,0OO $84,00O Cost of Goods Sold $50,000 Discounts Sales Returns & Allowances Loss on Sale of South American Division Gain on Sale of Equipment What is the amount of Other Revenues&Gains; that ABC would report on its Income Statement? $10,000 $16,0oo $100.000 Question 6 1 pts Refer to the information set above. If ABC reports Income from Continuing Operations before Taxes of $814,000, what item would be listed next below Continuing Operations before Taxes) on a multiple-step Income Statement? Loss on Sale of South American Division of $70,000 would be subtracted Dividends Paid of $48,000 would be subtracted Loss on Sale of South American Division of $52,500 would be subtracted Income Tax Expense of $203,500 would be subtracted.

Explanation / Answer

4) operating expense Administrative salaries 200,000 Depreciation 60,000 Sales salaries 240,000 total operating expense 500,000 answer 5) other revenues & Gains interest revenue 16,000 gain on sale of Equipment 84,000 other revenues & Gains 100,000 answer 6) income tax expense of $203,500 would be subtraced

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