Ask Question
BusinessBusiness
13 July, 17:47

In 2016, the company purchased $5,691 in new fixed assets. The tax rate is 30 percent. How much in fixed assets did the company sell?

+2
Answers (1)
  1. 13 July, 18:24
    0
    If a company purchased $5,691 in fixed assets, the other company sold them $5,691 in fixed assets. Regardless of taxes, they still sold and purchased the same amount of fixed assets. Now, if the $5,691 includes taxes and we are not wanting to use that as a number for sales purposes then the company sold $4,375 because when taxed at 30% the total is $5,691. A fixed asset is an item that is purchased for long-term use such as land, buildings and equipment.
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “In 2016, the company purchased $5,691 in new fixed assets. The tax rate is 30 percent. How much in fixed assets did the company sell? ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers
You Might be Interested in
ABC Bank is offering 3.6 percent compounded quarterly on its savings accounts. You deposit some amount of cash in the saving account today. After 5 years, you have $89,719 in your account. How much did you deposit today
Answers (1)
A company has net credit sales of $94,000, beginning net accounts receivable of $22,000 and ending net accounts receivable of $18,000. Calculate the days' sales in receivables.
Answers (1)
Jermaine Dye Corporation acquired two inventory items at a lump-sum cost of $50,000. The acquisition included 3,000 units of product LF, and 7,000 units of product 1B. LF normally sells for $15 per unit, and 1B for $5 per unit.
Answers (1)
On Monday, Neil tells Outdoor Landscaping, Inc., that he will pay Outdoor $500 if a variety of tasks are completed by Friday. On Wednesday, when Outdoor is more than half done with the work, Neil says that he has changed his mind. These parties had
Answers (1)
Which of the following topics would not appear in a company policy handbook? a. online job sites b. performance reviews c. medical and family leave d. standards of conduct
Answers (2)
New Questions in Business
Earnings per share (EPS) a. Is useful in both comparing earnings performance across companies and in comparing earnings performance for the same company over time. b.
Answers (1)
Frieling Company installs granite countertops in customers' homes. First, the customer chooses the particular granite slab, and then Frieling measures the countertop area at the customer's home, cuts the granite to that shape, and installs it.
Answers (1)
Which of the following is not a change in reporting entity? Group of answer choices Reporting using comparative financial statements for the first time. Changing the companies that comprise a consolidated group.
Answers (1)
The cash flows below contain the year 1 cash flows for a potential real estate investment. What is the property's operating expense ratio?
Answers (1)
Factors such as international trade agreements, economic conditions, and political unrest will have the greatest impact on what type of business environment?
Answers (1)
Home » Business » In 2016, the company purchased $5,691 in new fixed assets. The tax rate is 30 percent. How much in fixed assets did the company sell?
Sign Up Forgot Password?