Business High School

In the workplace, leaders at every level and in every department are important if the company is going to succeed.

True

False

(THIS IS CAREER EXPLORATION!!!)

Answers

Answer 1

True

Explanation:

the best answer is True

Answer 2
I think the answer is True

Related Questions

Net Income and OCF [LO2] During 2009, Raines Umbrella Corp. Had sales of $730,000. Cost of goods sold, administrative and selling expenses, and depreciation expenses were $580,000, $105,000, and $135,000, respectively. In addition, the company had an interest expense of $75,000 and a tax rate of 35 percent. (Ignore any tax loss carryback or carryforward provisions. ) a. What is Raines's net income for 2009? b. What is its operating cash flow? c. Explain your results in (a) and (b)

Answers

Raines Umbrella Corp.'s net income for 2009 was $107,250 and Raines Umbrella Corp.'s operating cash flow for 2009 was $242,250

a. To find the net income, we need to start with the company's revenue and subtract all expenses, including interest expense and taxes:

Revenue = $730,000

Cost of goods sold = $580,000

Administrative and selling expenses = $105,000

Depreciation expenses = $135,000

Interest expense = $75,000

Earnings before taxes (EBT) = Revenue - Cost of goods sold - Administrative and selling expenses - Depreciation expenses - Interest expense

EBT = $730,000 - $580,000 - $105,000 - $135,000 - $75,000

EBT = $(165,000)

Taxes = EBT * Tax rate

Taxes = $(165,000) * 35%

Taxes = $57,750

Net income = EBT - Taxes

Net income = $(165,000) - $57,750

Net income = $107,250

Therefore, Raines Umbrella Corp.'s net income for 2009 was $107,250.

b. To find the operating cash flow (OCF), we need to start with the company's net income and add back non-cash expenses like depreciation:

Net income = $107,250

Depreciation expenses = $135,000

OCF = Net income + Depreciation expenses

OCF = $107,250 + $135,000

OCF = $242,250

Therefore, Raines Umbrella Corp.'s operating cash flow for 2009 was $242,250.

c. Raines Umbrella Corp. had a net income of $107,250 for 2009, meaning that after all expenses and taxes were paid, the company had a profit of $107,250. This is a measure of the company's financial performance over the years.

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Esquire Comic Book Company had income before tax of $1,750,000 in 2021 before considering the following material items: 1. Esquire sold one of its operating divisions, which qualified as a separate component according to generally accepted accounting principles. The before-tax loss on disposal was $415,000. The division generated before-tax Income from operations from the beginning of the year through disposal of $650,000. 2. The company incurred restructuring costs of $80,000 during the year. Required: Prepare a 2021 income statement for Esquire beginning with income from continuing operations. Assume an income tax rate of 25%. Ignore EPS disclosures. (Amounts to be deducted should be Indicated with a minus sign.) ESQUIRE COMIC BOOK COMPANY Partial Income Statement For the Year Ended December 31, 2021
Income from continuing operations Discontinued operations: Income from operations of discontinued component 199,000 Income tax expense (49,750)
Income (loss) on discontinued operations 149,250 Net income (loss)

Answers

From the information that can be retrieved, the income statement shows the net income (loss) is $ 1,284,250.

Prepare a 2021 income statement for Esquire beginning with income from continuing operations. Assume an income tax rate of 25%. Ignore EPS disclosures. (Amounts to be deducted should be Indicated with a minus sign.)

Esquire Comic Book Company Partial Income Statement For the Year Ended December 31, 2021

Income from continuing operations: $1,135,000

Discontinued operations:

Income from operations of discontinued component $199,000Income tax expense $(49,750)Income (loss) on discontinued operations $149,250Net income (loss) $1,284,250

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The Kingston County Basketball Conference (KCBC) is an amateur basketball association. Each city in the county has one team that represents it. Each team has a maximum of twelve players and a minimum of nine players. Each team also has up to three coaches (offensive, defensive, and PT coaches.) Each team plays two games (home and visitor) against each of the other teams during the season.
a. Draw the ER diagram.
b. Create a relational model based on the ER diagram.

Answers

A relational model is a way of representing data in a database using tables with rows and columns.

The ER diagram for the Kingston County Basketball Conference (KCBC) can be used to create a relational model. The model would have one table for each of the teams, with columns for the team name, the players, the three coaches, and the two games played (home and visitor). It would also have a table for each game, with columns for the team name, the players, the coaches, and the city of the game.

This model would allow for efficient retrieval of data related to KCBC teams, players, coaches, and games. It also allows for easy updating of data such as players and coaches, and for the tracking of game outcomes. By using a relational model, the KCBC can easily track and manage their data.

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