Flip's Pizzeria Inc. has the following financial items for the current year: Advertising Expenses $35,000 Cost of Goods Sold $400,000 Other Operating Expenses $300,000 Sales $2,735,000 Cost of Equipment purchased during the year (10 year estimate useful life, 0 salvage value) $325,000 Calculate Flip's taxable liability for the current year.

we must determine the taxable income:

Sales $2,735,000

Cost of Goods Sold $400,000

Advertising Expenses $35,000

Other Operating Expenses $300,000

taxable income = $2,000,000

assuming the current corporate income tax rate (21%), current tax liability = $2,000,000 x 21% = $420,000

Since the question did not include any specific tax rate, I used the current one. But if the complete question includes some other tax rate, just multiply the taxable income by it.

x=3

step-by-step explanation:

this is really simple i saw that there was only one term (5x) and thought if that was 15 what would i have to multiply everything else to get it there? well if 5x became 15 then x would have to be 3 so plug the 3 in the x for the other equations and you get 15 for the other ones. so there you go. : )