Matador Company is preparing its 2022 financial statements. Matadors bookkeeper has determined Income from Continuing...
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Matador Company is preparing its financial statements. Matadors bookkeeper has determined Income from Continuing Operations ICO but is not certain this number is accurate. Matador has a corporate tax rate of Use the following information to determine the adjustments, if any, to ICO. Hint: if you are adjusting ICO, should the adjustments be pretax or net of tax? If you need to increase ICO, enter your answer as a positive number; for instance: If you need to decrease ICO, enter your answer as a negative number; for instance: If you determine no change is needed to ICO; enter Over the past years, Matador has estimated warranty expense based on of sales. On May after reviewing its most recent year end number for actual warranties paid, it decided to change this estimate to If Matador had used the in the past, warranty expenses would be $ higher in prior years. During fiscal Matador had earned sales revenues of $ of which were cash sales and were credit sales. The bookkeeper calculated warranty expenses for using the Round answer to nearest whole dollar. Determine the adjustment to ICO. Matador has a corporate tax rate of
Matador Company is preparing its financial statements. Matadors bookkeeper has determined Income from Continuing Operations ICO but is not certain this number is accurate. Matador has a corporate tax rate of Use the following information to determine the adjustments, if any, to ICO. Hint: if you are adjusting ICO, should the adjustments be pretax or net of tax? If you need to increase ICO, enter your answer as a positive number; for instance: If you need to decrease ICO, enter your answer as a negative number; for instance: If you determine no change is needed to ICO; enter Over the past years, Matador has estimated warranty expense based on of sales. On May after reviewing its most recent year end number for actual warranties paid, it decided to change this estimate to If Matador had used the in the past, warranty expenses would be $ higher in prior years. During fiscal Matador had earned sales revenues of $ of which were cash sales and were credit sales. The bookkeeper calculated warranty expenses for using the Round answer to nearest whole dollar. Determine the adjustment to ICO. Matador has a corporate tax rate of
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