Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. last year the sales at summit corporation were $40

Last year the sales at Summit Corporation were $402,000 and were all cash sales. The...

90.2K

Verified Solution

Question

Accounting

Last year the sales at Summit Corporation were $402,000 and were all cash sales. The expenses at Summit were $251,000 and were all cash expenses. The tax rate was 30%. The after-tax net cash inflow at Summit last year was:

Multiple Choice

  • $151,000

  • $45,300

  • $105,700

  • $402,000

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Finance
1.2K views

Why does the designation matter from a tort liability perspective? How is the principal/employer liable depending...

Programming
1.2K views

Using the relational model, define relations, keys, etc. to model flights, airlines and airports. Explain all...

Electrical Engineering
1.2K views

Part 1 Systems engineering is said to be a disciplined process. Why do system failures still occur?...

Physics
1.2K views

Go through the first 20 elements in the chart. Note and record which orbital contains the...

Physics
1.2K views

The graph between two temperature scales A B is shown between upper fixed point and...

Basic Math
1.2K views

1 point A and B are n x n matrices Check the true statements below...

Algebra
1.2K views

The given matrix determines a linear transformation T Find all x such that T x...

Algebra
1.2K views

syst by graphing 42 y 7 y z 10 10 9 8 7 6 S...

Accounting
1.2K views

Schedule a: Sales plan...

Accounting
1.2K views

Script Company uses a job costing accounting system for its production costs. A predetermined overhead...

Accounting
1.2K views

Which method will you consider the better option for raising funds for your project, a...

Finance
1.2K views

DOLI UUTUU. The purpose of the "kiddie tax" is to U Prevent parents from shifting...