In addition, kell paid $48,000 on february 1, 20x5, for 20x5 calendar-year property taxes. of this amount, $12,000 was allocated to the third quarter of 20x5. for the quarter ended september 30, 20x5, kell should report net income of:

87,000 dollars.

Explanation:

For the 95,000 income we should make the following adjustment:

The extraordinary gain has a portion that correspond to fourth quarter so we should remove it:

60,000 / 3 = 20,000 per quarter

The property taxes include a portion that occurs over the fourth quarter we should remove it as well:

48,000 / 4 = 12,000

therefore the net income should be:

95,000 -  20000 + 12000 = 87,000

NOTE MISSING INFORMATION

Kell Corp.'s $95,000 net income for the quarter ended September 30, 20X5, included the following after-tax items:

A $60,000 extraordinary gain, realized on April 30, 20X5, was allocated equally to the second, third, and fourth quarters of 20X5.

A $16,000 cumulative-effect loss resulting from a change in inventory method was recognized on August 2, 20X5.

In addition, Kell paid $48,000 on February 1, 20X5, for 20X5 calendar-year property taxes. Of this amount, $12,000 was allocated to the third quarter of 20X5.

answer; engaging in effective public relations;

match the scenarios with terms related to financial aid.

pell grant

student loan

merit-based scholarship

richard is one of the leading college basketball players in the state of florida. he also maintains a good academic record. looking at his talent and potential, furman university offers to bear the expenses for his college education.

arrowright

anita wants to pursue a certificate program in sports nutrition. to pay for the course, she borrows money by filing the fafsa.

arrowright

nathan comes from a low-income household. he wants to pursue an undergraduate degree in marketing. he receives financial aid covering 50 percent of his college expenses. nathan does not have to pay back this amount.

arrowright