Answered step by step
Verified Expert Solution
Question
1 Approved Answer
A company is making an electrical car. Find the net income and missing data of SRA-electric against mention in table attached. The Capital of 100,000
A company is making an electrical car. Find the net income and missing data of SRA-electric against mention in table attached. The Capital of 100,000 units is used and can be depreciated straight line (for this question only), Use FBR tax card for tax calculation. (1 unit = 70.3PKR).
All Values in Units and in 000's Revenues Operating revenues Sales 4,884 (minus) Returns Total operating revenues (185) 5070 Others revenues Interest receipts 618 Stock revenues 309 Total nonoperating revenues 927 Total revenues, 5,997 Expenses Operating expenses Cost of goods and services sold Labor 2,473 Materials 420 Indirect cost 841 Selling and promotion Depreciation (3rd year of capital expenditure) 247 Cal ?? General and administrative 124 Lease payments 124 Total operating expenses Cal ?? Nonoperating expenses Interest payments 272 Total nonoperating expenses 272 Total expenses, Cal ?? Net income before Taxes, Cal ?? Incomes taxes Cal ?? Net profit (Loss) for the year Cal ??
Step by Step Solution
★★★★★
3.41 Rating (148 Votes )
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started