Question
Balance Sheet Balance Sheet Income Statement 2xx1 2xx2 2xx2 Cash 10,000 Cash 20,000 Revenues 1,200,000 Acct. Receivable 20,000 Acct. Receivable 10,000 Cost of Sales 360,000
Balance Sheet Balance Sheet Income Statement 2xx1 2xx2 2xx2 Cash 10,000 Cash 20,000 Revenues 1,200,000 Acct. Receivable 20,000 Acct. Receivable 10,000 Cost of Sales 360,000 Inventory 16,000 Inventory 12,000 Gross Profit 840,000 Prepaid Expenses 4,000 Prepaid Expenses 8,000 Payroll Expenses 480,000 General Expenses 25,000 Equipment 300,000 Equipment 200,000 Administrative Exp. 10,000 Building 350,000 Building (net) 250,000 Rent Expenses 120,000 Total Assets 700,000 Total Assets 500,000 Utility Expenses 45,000 R&M Expenses 10,000 Acct. Payable 60,000 Acct. Payable 15,000 Depreciation Exp. 30,000 Salaries Payable 25,000 Salaries Payable 10,000 EBIT 120,000 Interest Payable 15,000 Interest Payable 5,000 Interest Expenses 20,000 EBT determine this. Long-term debt 400,000 Long-term debt 270,000 Tax determine this. Owners Equity Determine Owners Equity Determine Net Income 80,000 Total L & OE Determine Total L& OE Determine
Q. Determine the amount of Tax (=Income Tax) of 2xx2. (Do not put "$" or "," in your answer. If your answer is $1,000; then put just 1000)
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