Molteni motors inc. recently reported $3.25 million of net income. its ebit was $7 million, and its tax rate was 35%. what was its interest expense? (hint: write out the headings for an income statement and then fill in the known values. then divide $3.25 million net income by 1 − t = 0.65 to find the pre-tax income. the difference between ebit and taxable income must be the interest expense.

Which job role belongs in the middle management level? a. president b. chief executive officer c. department manager d. chief operating officer e. vice president

Martha is the head of the accounts department in a small manufacturing company. the company follows the accrual-basis method of accounting. it recently purchased raw materials worth $5,000 from its vendors. however, the company paid only $3,000 to its vendors. it plans to pay the remaining amount after three months. considering this information, which entry should martha record in the company’s accounts? a. $5,000 as accounts receivable b. $3,000 as accounts payable c. $2,000 as accounts payable d. $2,000 as accounts receivable

Materials purchases (on credit). direct materials used in production. direct labor paid and assigned to work in process inventory. indirect labor paid and assigned to factory overhead. overhead costs applied to work in process inventory. actual overhead costs incurred, including indirect materials. (factory rent and utilities are paid in cash.) transfer of jobs 306 and 307 to finished goods inventory. cost of goods sold for job 306. revenue from the sale of job 306. assignment of any underapplied or overapplied overhead to the cost of goods sold account. (the amount is not material.) 2. prepare journal entries for the month of april to record the above transactions.