Events & Promotions
|
|
GMAT Club Daily Prep
Thank you for using the timer - this advanced tool can estimate your performance and suggest more practice questions. We have subscribed you to Daily Prep Questions via email.
Customized
for You
Track
Your Progress
Practice
Pays
Not interested in getting valuable practice questions and articles delivered to your email? No problem, unsubscribe here.
Jun 0701:30 AM EDT
-02:30 AM EDT
Learn how Kamakshi achieved a GMAT 675 with an impressive 96th %ile in Data Insights. Discover the unique methods and exam strategies that helped her excel in DI along with other sections for a balanced and high score.
Jun 0803:00 PM PDT
-04:00 PM PDT
15 Full-length GMAT FE mocks with insightful analytics, weakness diagnosis, and video explanations!
Jun 0808:00 PM EDT
-10:00 PM EDT
Master the GMAT with expert live instruction, a personalized study plan, and real-time support. Includes 40 hours of online classes plus 6 months of access to the TTP GMAT OnDemand video course. Mon/Wed June 8, 2026 →August 12, 2026 8:00pm-10:00pm EST
Jun 1006:00 AM PDT
-06:15 PM PDT
Register for the GMAT Club Virtual MBA Spotlight Fair – the world’s premier event for serious MBA candidates. This is your chance to hear directly from Admissions Directors at nearly every Top 30 MBA program..- Jun 10
10:00 AM PDT
-11:00 AM PDT
Scoring 715 on the GMAT Focus Edition requires more than just learning formulas, memorizing concepts, or solving hundreds of questions. In this episode, Nishant shares how he improved his GMAT preparation by focusing on application of concepts, and more. 
Jun 1111:00 AM EDT
-01:00 PM EDT
TTP GMAT OnDemand gives serious students 400+ hours of expert video instruction, the full TTP course, AI support, weekly office hours, and a 715+ score guarantee—all built for elite GMAT score improvement.
02 Jul 2018, 10:27
Kudos
Bookmarks
Hi guys,
Not a GMAT question, but I cannot figure out this very basic q and wanted some help.
Carlita began 2014 with a taxes payable account balance of $3,000. On December 31, 2014, its taxes payable account balance is $7,000. How much did Carlita pay to the tax authorities during the year?
A. 2,000
B. 4,000
C. 6,000
D. Cannot be determined
Income statement:
Sales.........120,000
Less COGS.........90,000
Gross Margin.........30,000
Less Operating Expenses 10,000
Operating Income.......20,000
Less Interest Expenses.......2,000
Income before Taxes..... 18,000
Less income expense......6,000
Net income....... 12,000
So I initially thought it would be 6,000 because that's reported on the income statement-- that's what she actually paid in taxes right? I believe the answer is supposed to be 2,000.
Not a GMAT question, but I cannot figure out this very basic q and wanted some help.
Carlita began 2014 with a taxes payable account balance of $3,000. On December 31, 2014, its taxes payable account balance is $7,000. How much did Carlita pay to the tax authorities during the year?
A. 2,000
B. 4,000
C. 6,000
D. Cannot be determined
Income statement:
Sales.........120,000
Less COGS.........90,000
Gross Margin.........30,000
Less Operating Expenses 10,000
Operating Income.......20,000
Less Interest Expenses.......2,000
Income before Taxes..... 18,000
Less income expense......6,000
Net income....... 12,000
So I initially thought it would be 6,000 because that's reported on the income statement-- that's what she actually paid in taxes right? I believe the answer is supposed to be 2,000.
Archived Topic
Hi there,
This topic has been closed and archived due to inactivity or violation of community quality standards. No more replies are possible here.
Where to now? Join ongoing discussions on thousands of quality questions in our Quantitative Questions Forum
Still interested in this question? Check out the "Best Topics" block below for a better discussion on this exact question, as well as several more related questions.
Thank you for understanding, and happy exploring!
03 Jul 2018, 10:18
Kudos
Bookmarks
Hi tumpti,
Should be 2,000.
3,000+6,000 - X = 7,000 => X=2,000
Should be 2,000.
3,000+6,000 - X = 7,000 => X=2,000
Archived Topic
Hi there,
This topic has been closed and archived due to inactivity or violation of community quality standards. No more replies are possible here.
Where to now? Join ongoing discussions on thousands of quality questions in our Quantitative Questions Forum
Still interested in this question? Check out the "Best Topics" block above for a better discussion on this exact question, as well as several more related questions.
Thank you for understanding, and happy exploring!
Attachments
jk.png [ 4.42 KiB | Viewed 12341 times ]
