Elgin battery manufacturers had sales of 1000000 in 2009, Ask an Expert

Accounting

Elgin Battery Manufacturers had sales of $1,000,000 in 2009 and their cost of goods sold represented 70 percent of sales. Selling and administrative expenses were 10 percent of sales. Depreciation expense was $100,000 and interest expense for the year was $10,000. The firm's tax rate is 30 percent. What is the dollar amount of taxes paid?

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9948149

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