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What would the total expenses be if the reported net income of 2.4 million on total revenues of 30 million and the depreciation expense totaled 1 million?
Sales revenue 30 million Less: Expenses 26.6 million (balancing figure) Less: Depreciation 1 million Net income 2.4 million
How do you construct a statement of income revenues of 12 million in 2007 Expenses other than depreciation totaled 75 percent of revenues and depreciation expense was 1.5 million?
Revenue 12000000 Less: Expenses @ 75% of revenue 9000000 Depreciation 1500000 Net Income 1500000
5 million operating income net depreciation is 1 million interest expense of 1 million corporate tax rate is 40 percent what is the net income?
the remainders of money after a companies revenue is deducted
EBITDA is 7.5 million and net income is 1.8 million interest expense 2 million and corporate tax 40 what is the charge for depreciation and amortization?
D&A = 2.5 million
Is depreciation included in a contribution income statement?
Yes depreciation is included in contribution income statement as depreciation is part of fixed cost of company.
Accumulated Depreciation is reported on the income statement?
Accumulated Depreciation is reported on the balance sheetbecause it deals with the assets. However, depreciation expense is mentioned on the income statement.
Is Accumulated Depreciation is reported on the income statement?
Accumulated Depreciation is reported on the balance sheetbecause it deals with the assets. However, depreciation expense is mentioned on the income statement.
Is it correct to include depreciation of disposed of asset in income statement?
Depreciation of any asset is charged to income statement till the actual date of disposal of asset and after that date depreciation is not charged to income statement.
Where does accumulated depreciation go on a multiple step income statement?
accumulated depreciation is a part of financial statement while its counteract or effect is recorded into income statement as a Depreciation Expense.
Does depreciation lower taxes?
Yes, depreciation is an expense and like all other expenses which reduces the incomes depreciation also reduces the income and as lower the income as lower the tax.
What effect does depreciation expense have on net income and cash flow?
Depreciation Expense reduces net income and has no effect on cash flow.
Is depreciation beneficial if income is non taxable If not is it appropriate to remove it from the financial statements?
Depreciation doesnot have any effect when income is non taxable but even then depreciation is shown to reduce the cost of asset and allocate it to income statement of fiscal year.
