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Home Q & A Board Other Fields Homework Help Business Economics
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ashly138 ashly138
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6 years ago
Biermann Equipment is a publicly held corporation required to pay income taxes. For the current year it had revenues of $5,000,000 and cash expenses of $3,000,000, and claimed CCA of $200,000. The company has a 30 percent tax rate. What would be the net cash flow for the current year if all revenues and expenses were in cash?
A) $1,190,000
B) $1,260,000
C) $1,460,000
D) $1,800,000
E) $2,000,000
Textbook 
Cost Accounting: A Managerial Emphasis, Canadian Edition

Cost Accounting: A Managerial Emphasis, Canadian Edition


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#1
6 years ago
C
Explanation:  C) Revenue   $5,000,000
Expenses other than CCA   $3,000,000
Income taxes      540,000   3,540,000
Net cash flow      $1,460,000

Income taxes = 30% * ($5,000,000-$3,000,000-$200,000) = $540,000
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