Answer:
b. None of the listed answers
Explanation:
EBITDA means earnings before interest , tax, depreciation and amortization, whereas operating is the gross profit minus all operating costs, since depreciation and amortization, which are operating costs would have been deducted in arriving at EBITDA, it means operating income and EBITDA are not the same.
Net income is gross profIt minus interest,tax ,depreciation and amortization, hence, it is a far cry from EBITDA.
Note also EBITDA is not recognized by generally accepted accounting principles (GAAP) as a performance measure
M. Poirot wishes to sell a bond that has a face value of $1,000. The bond bears an interest rate of 11.28% with bond interest payable semiannually. Six years ago, $979 was paid for the bond. At least a 12% return (yield) on the investment is desired. The minimum selling price must be: Enter your answer as follow: 1234.56
Answer:
M. Poirot
The minimum selling price must be:
= $2,065.09.
Explanation:
a) Data and Calculations:
Face value of bond = $1,000
Interest rate = 11.28%
Interest payment = semiannually
Price of bond six years ago = $979
Desired return (yield) rate = 12%
Minimum selling price can be determined as follows:
N (# of periods) 12
I/Y (Interest per year) 12
PV (Present Value) 979
PMT (Periodic Payment) 5.64
Results
FV = $2,065.09
Sum of all periodic payments $67.68
Total Interest $1,018.41
As of December 31, Drake Inc. reported the following (in millions): Current AssetsLong-term AssetsCurrent LiabilitiesTotal Liabilities $31,967$42,737$26,132$61,491 What amount did Drake Inc. report as equity on December 31
Answer:
$13,213
Explanation:
The computation of the equity is shown below:
As we know that
Total assets = total liabilities + total stockholder equity
here
Totalassets be
= $31,967 + $42,737
= $74,707
ANd, the total liabilities is $61,491
So, the equity should be
= $74,707 - $61,491
= $13,213
At the end of the previous year, a customer owed Days Company $400. On February 1 of the current year, the customer paid $600 total, which included the $400 owed plus $200 owed through February 1st. The journal entry on February 1 is? (Check all that apply.)
Answer:
The relevant journal entry would be:
Date Account Title Debit Credit
February 1 Cash $600
Accounts Receivable $400
Revenue $200
The entire $600 will be debited to cash to show that $600 was received in cash.
$400 will go to Accounts Receivable to cancel out the debt owed by the customer.
Revenue will be credited $200 for the amount owed through February 1st. Revenue is credited when it increases.
Answer: Cash will debited for $600
Accounts receivable will be credited for $400
Service revenue would be credited for $200
Explanation: it’s was the correct answer on the homework
Department G had 2,280 units 25% completed at the beginning of the period, 13,200 units were completed during the period, 1,900 units were 20% completed at the end of the period, and the following manufacturing costs were debited to the departmental work in process account during the period: Work in process, beginning of period $29,400 Costs added during period: Direct materials (12,820 units at $9) 115,380 Direct labor 77,400 Factory overhead 25,800 All direct materials are placed in process at the beginning of production, and the first-in, first-out method of inventory costing is used. What is the total cost of the units started and completed during the period (round unit cost calculations to whole dollars and round your final answer to the nearest dollar)?
Answer:
Department G
The total cost of the units started and completed during the period is:
= $184,717.
Explanation:
a) Data and Calculations:
FIFO Inventory costing method is used
Units Materials Conversion
Beginning inventory 2,280 100% 25%
Cost of beginning inventory = $29,400
Units started 12,820
Total units available 15,100
Units completed 13,200
Ending inventory 1,900 100% 20%
Started and completed 10,920 (13,200 - 2,280)
Equivalent units of production
Units Materials Conversion
Units in Beginning inventory 2,280 0 (0%) 1,710 (75%)
Units started and completed 10,920 10,920 (100%) 10,920 (100%)
Ending inventory 1,900 1,900 (100%) 380 (20%)
Equivalent units 12,820 13,010
Costs added during the period $115,380 $103,200
Equivalent units 12,820 13,010
Cost per equivalent unit $9.00 $7.93
Costs assigned to:
Beginning inventory $0 $13,603 $13,603
Cost of units started and completed 98,280 86,437 184,717
Ending inventory 17,100 3,013 20,113
Joe had made an agreement with Auto Insurance Co. not to use his van for commercial business purposes when he purchased auto insurance. Joe had an accident while delivering pizzas for Bigger Pizza, Inc. For which type of violation will Joe not be covered under his insurance?
Answer:
.Concealment
Explanation:
From the question we are informed about Joe who had made an agreement with Auto Insurance Co. not to use his van for commercial business purposes when he purchased auto insurance. Joe had an accident while delivering pizzas for Bigger Pizza, Inc. the type of violation that Joe will not be covered under his insurance is Concealment.
Concealment can be regarded as omission of information during insurance process, which would definitely has effect on the issuance as well as the rate of an insurance contract. In a case whereby the insurer is unable to get access to the nondisclosed information and the
nondisclosed information is material as regards the decision-making process, nullification of the insurance contract can be carried out by the insurer.
Swifty Corporation manufactures a product with a unit variable cost of $100 and a unit sales price of $176. Fixed manufacturing costs were $480000 when 10000 units were produced and sold. The company has a one-time opportunity to sell an additional 1000 units at $145 each in a foreign market which would not affect its present sales. If the company has sufficient capacity to produce the additional units, acceptance of the special order would affect net income as follows:
Income would increase by $45000.
Income would increase by $3000.
Income would increase by $145000.
Income would decrease by $3000.
Coronado Industries is using the target cost approach on a new product. Information gathered so far reveals:
Expected annual sales 350000 units
Desired profit per unit $0.35
Target cost $168000
What is the target selling price per unit?
a. $0.48
b. $0.35
c. $0.70
d. $0.83
Answer:
1. Swifty Corporation
If the company has sufficient capacity to produce the additional units, acceptance of the special order would affect net income as follows:
Income would increase by $45000.
2. Coronado Industries:
The target selling price per unit is:
d. $0.83
Explanation:
a) Data and Calculations:
Swifty Corporation:
Variable cost per unit = $100
Sales price per unit = $176
Contribution margin per unit = $76 ($176 - $100)
Fixed manufacturing costs = $480,000
Production and sales units = 10,000 units
Revenue from special order = $145,000 ($145 * 1,000)
Variable costs for 1,000 units 100,000 ($100 * 1,000)
Contribution margin $45,000 ($145,000 - $100,000)
Fixed costs for special order $0
Net income = $45,000
Coronado Industries:
Expected annual sales 350,000 units
Desired profit per unit $0.35
Target cost $168,000
Desired profit = $122,500 (350,000 * $0.35)
Total sales revenue = $290,500 ($168,000 + $122,500)
Target selling price per unit = $0.83 ($290,500/350,000)
A new employee, John Chapman, earns $10 per hour and gets time-and-a-half over 40 hours per week. His first week he worked 45 hours. Deductions from his check were $30 for OASDI, $7 for Medicare, $ 61 for federal income tax withholding, and $15 for a United Way contribution. What was his gross pay for the period
Answer: $475
Explanation:
Gross pay is:
= Regular pay + Overtime
= (Regular hours * Regular pay) + ( Overtime hours * regular pay * time and a half)
= (10 * 40 hours) + ( (45 - 40 hours) * 10 * 1.5)
= 400 + 75
= $475
Aztec Inc. produces soft drinks. Mixing is the first department, and its output is measured in gallons. Aztec uses the FIFO method. All manufacturing costs are added uniformly. For July, the mixing department provided the following information:
Production:
Units in process, July 1, 60% complete 18,000 gallons
Units completed and transferred out 141,000 gallons
Units in process, July 31, 45% complete 16,000 gallons
Costs:
Work in process, July 1 $36,000
Costs added during July 398,460
Required:
Prepare a production report.
Answer:
Aztec Inc.
Mixing Department
Production Report
For the month of July
Equivalent units of production:
Beginning work in process 18,000 7,200 (40%)
Units started and completed 139,000 139,000 (100%)
Ending work in process 16,000 7,200 (45%)
Total equivalent units of production 153,400
Cost per equivalent unit:
Costs added during July $398,460
Equivalent units 153,400
Cost per equivalent unit = $2.60 ($398,460/153,400)
Cost to be accounted for:
Work in process, July 1 $36,000
Costs added during July 398,460
Total costs to be accounted for $434,460
Costs assigned:
Beginning work in process = $18,720 (7,200 * $2.60)
Units started and completed = $361,400 (139,000 * $2.60)
Ending work in process = $18,720 (7,200 * $2.60)
Costs assigned to:
Units completed and transferred out:
Beginning work in process costs:
60% completion = $36,000
40% completion = 18,720
Units started and
completed in July = 361,400
Total costs assigned to
units transferred out = $416,120
Cost of ending work in process = 18,720
Total costs assigned = $434,840
Explanation:
a) Data and Calculations:
FIFO Method
Units Degree of Completion
July 1 work in process 18,000 60%
Units transferred out 141,000
July 31 work in process 16,000 45%
Production units available 157,000
Beginning work in process 18,000 40% to be completed
Units started and completed 139,000 100%
Super Garage was started on June 1 by Mr. Peter Thomson . A summary of June transactions
is presented below.
June 1. Invested $25,000 cash to start the garage.
2. Purchased repair equipment for $5,000 cash.
4. Paid $500 cash for the space rent.
4. Hired an employee
5. Paid $700 for a one-year fire insurance policy.
6. Received $10000 in cash from customers for repair service.
10. Provided repair service on account to customers $1750.
21. Collected cash of $5000 for services provided on June 6.
27. Withdrew $1,000 cash for personal use.
30. Paid employee salaries $3,000.
30. Received an electricity bills $170.
Required:
i. Journalize the transactions
ii. Post and balance the transactions to ledger accounts
Explain the importance of technical education providing organization in nepal. plz say simple and correct answer.
Most important education systems for employment generation. With vocational and soft skills, people can enhance their competency, thereby increasing their chances of securing a job.
On June 30, 2021, Moran Corporation issued $9.0 million of its 8% bonds for $8.1 million. The bonds were priced to yield 10%. The bonds are dated June 30, 2021. Interest is payable semiannually on December 31 and July 1. If the effective interest method is used, by how much should the bond discount be reduced for the six months ended December 31, 202
Answer:
$45,000
Explanation:
Calculation to determine by how much should the bond discount be reduced for the six months ended December 31, 202
First step
Semiannual interest paid on 31.12.2021 = $9,000,000*8%*6/12
Semiannual interest paid on 31.12.2021= $360,000
Second step
Effective interest expense on 31.12.2021 = $8,100,000 * 10% * 6/12
Effective interest expense on 31.12.2021= $405,000
Last step
Bond discount to be reduced for 6 months ended 31.12.2021 = $405,000 - $360,000
Bond discount to be reduced for 6 months ended 31.12.2021=$45,000
Therefore by how much should the bond discount be reduced for the six months ended December 31, 202 will be $45,000
You're trying to save to buy a new $207,000 Ferrari. You have $57,000 today that can be invested at your bank. The bank pays 6.5 percent annual interest on its accounts. How long will it be before you have enough to buy the car?
Answer:
19.84 years
Explanation:
Number of years = in ( fv / pv) / r
FV = future value
PV = present value
r = interest rate
IN(207000 / 57000) / 0.065
IN (3.631579) / 0.065 = 19.84
Network externalities: Select one: A. exist when the usefulness of a product increases with the number of consumers who use it B. are created when celebrity endorsements of products lead to a surge in the demand for those products C. can only exist when there are economies of scale D. prevent the dominance of a market by one firm.
Answer:
A. )exist when the usefulness of a product increases with the number of consumers who use it
Explanation:
Network externality can be regarded as a change that occur in benefit as well as in surplus, which is been derived by agent from a good when there is a change in number of other agents that consumes this same type of good. Network externality can as well be regarded as "network effect" this effect is one is that is been had by one user of a good/service on the value of the product with respect to each other people.
It should be noted that Network externalities exist when the usefulness of a product increases with the number of consumers who use it
MC Qu. 101 The following information... The following information describes a company's usage of direct labor in a recent period. The direct labor rate variance is: Actual hours used 46,000 Actual rate per hour $ 16 Standard rate per hour $ 15 Standard hours for units produced 48,000
Answer:
$46,000 Unfavorable
Explanation:
Calculation to determine what The direct labor rate variance is:
Using this formula
Direct labor rate variance = Actual hours * ( Actual Rate - Standard Rate)
Let plug in the formula
Direct labor rate variance=46000*($16- $15)
Direct labor rate variance=46,000*$1
Direct labor rate variance=$46,000 Unfavorable
Therefore The direct labor rate variance is: $46,000 Unfavorable
When a company records depreciation it debits:_____.
A. Depreciation Expense and credits a contra-asset account.
B. Depreciation Expense and credits Cash.
C. a long-lived tangible asset account and credits Depreciation Expense.
D. a liability account and credits Depreciation Expense.
Answer: A. Depreciation Expense and credits a contra-asset account.
Explanation:
Depreciation is an expense which means that when it is incurred, it will be debited because expenses are debited to show that they have increased.
Depreciation reduces the value of an asset so the asset needs to be credited which is what is done when an asset reduces. The full entry would therefore involved a debit to the Depreciation account and a credit to the asset account that is being depreciated.
Explain how the hotel business could create added value to the goods they buy in?
Answer:
Well-designed rooms, attractive and comfortable appliances, well-dressed and respectful assistants, good quality entertainment equipment, and delightful food made by experienced chefs.
Explanation:
Guests will feel more welcomed to a clean and comfortable hotel. Respectful assistants, good quality entertainment equipment, and food made by experienced chefs can boost the morale of guests.
Should we, as Americans, be concerned with the economies and standard of living of other countries?
Answer: No the economy and standard of living should be american's focus.
Explanation: If we as american's can't find a solution to our own problem's then it's unlikely that we would be able to solve another countries problems.
No, If we as Americans can't find a solution to our own problem because there exist many differences in the levels of living between various countries.
What is the standard of living?
Standards of living can concern multiple aspects of a population, including satisfaction and productivity. This stands significant because the more significant productivity and happiness exist, the more suitable an economy grows to be as a whole.
The real cause for the dissimilarities in the levels of living between various countries exists the dissimilarity in their levels of national income. The group of national income relies upon the entire volume of an exhibition in the country.
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The following data apply to Elizabeth's Electrical Equipment:
Value of operations $20,000
Short-term investments $1,000
Debt $6,000
Number of shares 300
The company plans on distributing $50 million by repurchasing stock. What will the intrinsic per share stock price be immediately after the repurchase?
Answer:
$50
Explanation:
Calculation to determine the intrinsic per share stock price be immediately after the repurchase
First step
Total Assets=Value of operations of 20,000+ Short term investments of 1000
Total Assets=$21,000
Second step
Equity =Assets - Debt
Equity= $21,000-$6,000
Equity= $15,000
Now let determine the intrinsic per share stock price
Intrinsic per share stock price=$15,000/300
Intrinsic per share stock price=$50
Therefore the Intrinsic value per share will be $50 immediately after the repurchase has occured.
The intrinsic per share stock price immediately after the repurchase would be approximately $166,716.67
How did we get the value?To determine the intrinsic per share stock price immediately after the repurchase, we need to calculate the new number of shares outstanding after the repurchase and then divide the remaining value of operations by the new number of shares.
Given data:
Value of operations: $20,000
Short-term investments: $1,000
Debt: $6,000
Number of shares: 300
First, we need to calculate the new number of shares outstanding after the repurchase. Since the company plans on distributing $50 million by repurchasing stock, we can use this information to determine the number of shares repurchased.
The value of operations ($20,000) plus the short-term investments ($1,000) minus the debt ($6,000) gives us the total equity value of the company before the repurchase:
Equity value before repurchase = Value of operations + Short-term investments - Debt
= $20,000 + $1,000 - $6,000
= $15,000
Let's assume the repurchased shares are denoted by R.
Now, we can set up an equation to represent the total equity value after the repurchase:
Equity value after repurchase = (Number of shares - R) × Intrinsic per share stock price
Given that the total equity value after the repurchase is $15,000 and the number of shares is 300, we have:
$15,000 = (300 - R) × Intrinsic per share stock price
We also know that the company plans on distributing $50 million by repurchasing stock, so we can set up another equation to represent the total value of the repurchased shares:
Total value of repurchased shares = R × Intrinsic per share stock price
Given that the total value of repurchased shares is $50 million, we have:
$50,000,000 = R × Intrinsic per share stock price
Now we can solve these two equations simultaneously to find the values of R (repurchased shares) and Intrinsic per share stock price.
We have the following system of equations:
$15,000 = (300 - R) × Intrinsic per share stock price ...(1)
$50,000,000 = R × Intrinsic per share stock price ...(2)
Divide equation (2) by Intrinsic per share stock price:
$50,000,000 / Intrinsic per share stock price = R
Substitute this value of R into equation (1):
$15,000 = (300 - ($50,000,000 / Intrinsic per share stock price)) × Intrinsic per share stock price
Simplify:
$15,000 = 300 × Intrinsic per share stock price - (50,000,000 / Intrinsic per share stock price) × Intrinsic per share stock price
$15,000 = 300 × Intrinsic per share stock price - 50,000,000
Rearrange the equation:
300 × Intrinsic per share stock price = $15,000 + $50,000,000
300 × Intrinsic per share stock price = $50,015,000
Intrinsic per share stock price = $50,015,000 / 300
Intrinsic per share stock price = $166,716.67 (rounded to two decimal places)
Therefore, the intrinsic per share stock price immediately after the repurchase would be approximately $166,716.67.
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Your father offers you a choice of $120,000 in 11 years or $48,500 today. Use Appendix B as an approximate answer, but calculate your final answer using the formula and financial calculator methods. a-1. If money is discounted at 11 percent, what is the present value of the $120,000
Answer:
$38,074
Explanation:
Present value is the sum of discounted cash flows
Present value can be calculated using a financial calculator
Cash flow in year 1 to 10 = 0
Cash flow in year 11 = $120,000
I = 11
PV = 38,074
To determine PV using a financial calculator take the following steps:
1. Input the cash flow values by pressing the CF button. After inputting the value, press enter and the arrow facing a downward direction.
2. after inputting all the cash flows, press the NPV button, input the value for I, press enter and the arrow facing a downward direction.
3. Press compute
Given the choice, i would choose $48,500 today.
the gap between 'where we are now' and 'where we want to be' is known as the.....
Answer:
Planning gap.
Explanation:
Planning can be defined as the process of developing organizational objectives and translating them into action plans or courses of action.
This ultimately implies that, planning is a strategic technique used by organizations to make an aggregate plan for its manufacturing (production) process typically ahead of time, in order to have an idea of the level of goods that are to be produced and what resources are required so as to reduce the total cost of production to its barest minimum.
The planning gap can be defined as the gap between "where we are now?" and "where we want to be?"
Basically, "where are we now?" describe the current situation of things or financial and non-financial activities that a business firm currently holds.
On the other hand, "where we want to be?" is a vision and mission statement that focuses on achieving the goals and objectives set for a business firm.
Which of the following is not an appropriate member of an audit committee?
A А.
An academic specializing in business administration
B
The organization's vice president of operations.
С.
A retired executive of a firm that had been associated with the organization
D
The vice president of the local bank used by the organization
A company like Motorola might establish a goal of reducing its inventory by 50 percent over the next year. To ensure that it reaches this goal, the company could monitor its progress on a quarterly or monthly basis. If the managers at Motorola discover that there is a danger of not achieving this goal, they can take corrective action to adjust for the deficiency. This is a description of the managers' ____ function.
Answer:
stfhgocovovohdj vbb
Explanation:
sryyy
During 2017, Benson purchased $1,450,000 of raw materials, incurred direct labor costs of $250,000, and incurred manufacturing overhead totaling $160,000. How much raw materials were transferred to production during 2017 for Benson
Answer:
Raw Materials transferred to production during 2017 $1,466,000
Explanation:
The computation of the raw material transferred to production is given below:
Opening raw material 2016 $80,000
Add : Purchase of Raw material $1,450,000
Less Closing Stock raw material 2017 $64,000
Raw Materials transferred to production during 2017 $1,466,000
Hence, the same should be relevant
Each of Professor A and Professor B at UTD has a private secretary, who can type four letters per hour. The letters are generated at a rate of three per hour by each of the two professors, who have been wondering if they would benefit from pooling the two secretaries. Perform a queuing analysis. What is the average waiting time of a letter in the system.
Answer:
Average waiting time = 7.5 minutes
Explanation:
UTD private secretary can type the number of letters = 4 per hour by each.
By professor, the letter generated = 3 per hour by each
Thus by pooling the average time will be the time that comes by dividing the one hour with total letters in an hour.
Use the below formula:
Average waiting time = Minutes in one hour / total letters
Average waiting time = 60 / 8
Average waiting time = 7.5 minutes
Define the KPI ‘rate of staff absenteeism’.
Answer:
KPI, Key Performance Indicators are used for measuring the average absenteeism rate per employee. This is computed as a % of the total working days.
Explanation:
Individual employee Key Performance Indicators (KPIs) are metrics that assist in tracking the ability of your employees to meet your expectations and their impact on the business goals.
Cheers Corporation purchased for $500,000 5,000 shares of Beer Corporation common stock (less than 5% of the outstanding Beer stock) at the beginning of the current year. It used $400,000 of borrowed money and $100,000 of its own cash to make this purchase. Cheers paid $50,000 of interest on the debt this year. Cheers received a $40,000 cash dividend on the Beer stock on September 1 of the current year. Cheers has $5 million of taxable income before any dividends-received deduction. a. What amount can Cheers deduct for the interest paid on the loan
Answer:
Cheers Corporation
The amount that Cheers can deduct for the interest paid on the loan is:
= $50,000.
Explanation:
a) Data:
Investment in Beer Corporation = $500,000
Number of Beer shares purchased = 5,000
Percentage shareholding in Beer Corporation < 5%
Amount borrowed for the investment = $400,000
Own cash used for the purchase = $100,000
Interest paid on the debt for this year = $50,000 = 12.5%
Cash dividend received for the year = $40,000
Cheers taxable income before dividends = $5 million
The amount of interest deductible = $50,000
b) Since the interest was made for the purpose of the investment in Beers Corporation, the whole amount of interest expense for the year is deductible.
team skills do not require the ability to communicate effectively.
true or false
Answer:
I think false .
Explanation:
I think so because while working in a team the most important thing that we need is communication skill.
A consumer's weekly income is $250, and the consumer buys 12 bars of chocolate per week. When weekly income increases to $280, the consumer buys 13 bars per week. The income elasticity of demand for chocolate by this consumer is about
Answer:
0.69
Explanation:
Given that we have the formula for calculating income elasticity of demand as the percent change in quantity demanded divided by the percent change in income, hence, we have the percent change in quantity demanded => 13 - 12 = 1 ÷ 12 = 0.083
the percent change in income => 280 - 250 = 30 ÷ 250 = 0.12
Therefore we have => 0.083 ÷ 0.12 = 0.69
Hence, the final answer is 0.69
Bombs Away Video Games Corporation has forecasted the following monthly sales:
January $113,000 July $58,000
February 106,000 August 58,000
March 38,000 September 68,000
April 38,000 October 98,000
May 33,000 November 118,000
June 48,000 December 136,000
Bombs Away Video Games sells the popular Strafe and Capture video game. It sells for $5 per unit and costs $2 per unit to produce. A level production policy is followed. Each month's production is equal to annual sales (in units) divided by 12. Of each month's sales, 40 percent are for cash and 60 percent are on account. All accounts receivable are collected in the month after the sale is made.
Required:
Construct a monthly production and inventory schedule in units. Beginning inventory in January is 38,000 units.
Answer:
Bombs Away Video Games Corporation
Production and Inventory Schedule
Sales Units Production units Ending Units
Beginning inventory 38,000
January 22,600 15,200 30,600
February 21,200 15,200 24,600
March 7,600 15,200 1,800
April 7,600 15,200 9,400
May 6,600 15,200 18,000
June 9,600 15,200 23,600
July 11,600 15,200 27,200
August 11,600 15,200 30,800
September 13,600 15,200 32,400
October 19,600 15,200 28,000
November 23,600 15,200 19,600
December 27,200 15,200 7,600
Explanation:
a) data and Calculations:
Sales Budget ($'000) Sales Units Production units Ending Units
Beginning inventory 38,000
January $113,000 22,600 15,200 30,600
February 106,000 21,200 15,200 24,600
March 38,000 7,600 15,200 1,800
April 38,000 7,600 15,200 9,400
May 33,000 6,600 15,200 18,000
June 48,000 9,600 15,200 23,600
July 58,000 11,600 15,200 27,200
August 58,000 11,600 15,200 30,800
September 68,000 13,600 15,200 32,400
October 98,000 19,600 15,200 28,000
November 118,000 23,600 15,200 19,600
December 136,000 27,200 15,200 7,600
Total 182,400 182,400
Jebali Company reports gross income of $340,000 and other property-related expenses of $229,000 and uses a depletion rate of 14%. Calculate Jebali's depletion allowance for the current year. $fill in the blank 1
Answer:
15,540
Explanation:
Depletion = depletion rate x (gross income - expenses)
0.14 x ($340,000 - $229,000) = 15,540
