In 2019, X Company's profit function was 0.31R - $89,000, where R is revenue. In 2020, the relationship between revenue and variable costs will not change, but fixed costs will increase by $16,020. Assuming a tax rate of 35%, what will revenue have to be in order for X Company to earn $33,200 after taxes in 2020?

Answers

Answer 1
Answer:

Answer:

Revenue= $503,538.46

Explanation:

Giving the following information:

In 2019, X Company's profit function was 0.31R - $89,000, where R is revenue. In 2020, the relationship between revenue and variable costs will not change, but fixed costs will increase by $16,020.

Tax rate= 35%

Desired profit= 33,200

X= 0.31R - (89,000+16,020)= 0.31R - 105,020

We need to incorporate the effect of the tax rate:

X= [(0.31R - 105,020)*(1-t)]

33,200= [(0.31*R) - 105,020]*(1-0.35)

33,200/0.65= 0.31R - 105,020

51,076.92 + 105,020= 0.31R

503,538.46= R


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Answers

Answer:

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Answers

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A count of the petty cash fund disclosed the following items:
Currency $59.00
Coins 2.07
Expenditure receipts (vouchers):
Supplies $24.73
Miscellaneous items 15.03
Postage 38.33
Freight-Out 5.43

Journalize the entries in october that pertain to the petty cash fund.

Answers

Explanation:

The journal entries are shown below:

1. Petty cash A/c $146

            To Cash A/c $146

(Being the petty cash fund is established)

2. Office supplies A/c Dr $4.73

Miscellaneous items $15.03

Postage $38.33

Freight-Out $5.43

Cash short and over A/c $21.41      (Balancing figure)

Petty cash A/c $50         ($196 - $146)

             To Cash $134.93    ($196 - $59 - $2.07)

(Being the expenses are recorded)

     

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Answers

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To know more about configuration control, click here- brainly.com/question/29736870

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