Question
Consider the following for QC Industries: Re = 10% , Forecasted Net Income for 2020 of $1,500,000 , Book value at 1/1/20 of $400,000 1.
Consider the following for QC Industries: Re = 10% , Forecasted Net Income for 2020 of $1,500,000 , Book value at 1/1/20 of $400,000
1. What is QC Industries required income?
a. $150,000
b. $40,000
c. $1,100,000
d. $62,500
2. What is QC Industries residual income?
a. $1,350,000
b. $1,100,000
c. $350,0005
d. $1,460,000
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Principles Of Auditing
Authors: A. Pandu
1st Edition
8189630822, 978-8189630829
