Answer:
a) Is Santhosh required to increase his withholding or make estimated tax payments this year to avoid the underpayment penalty?
- No he is not required to make any payments or increase his withholdings because this year's withholdings already represent a 133% increase with respect to last year's tax liability. If the withholdings for the current are over 100% last year's tax liability, then the taxpayer doesn't need to make any further adjustments in order to avoid underpayment penalties.
b) By how much, if any, must Santhosh increase his withholding and/or estimated tax payments for the year to avoid underpayment penalties?
The answer would be 2 (C). As break-even the point at which cost and income are equal and there is neither profit nor loss also : a financial result reflecting neither profit nor loss. break-even.
I hope it helped you!
Answer:
$32.4 million
Explanation:
The computation of the balance in the deferred tax liability in the December 31, 2021, balance sheet is shown below:
Deferred tax liability is
= Tax depreciation exceeded depreciation for financial reporting purposes × enacted tax rate
= $108 million × 30%
= $32.4 million
Simply we multiplied the exceeded amount with the enacted rate so that the deferred tax liability could come
Answer:
The divided for common stockholders is $152000
Explanation:
The preferred stock is cumulative whch means any arrears in preference dividend will be paid whenever the dividend is declared.
The amount of yearly preference dividends is = 12000 * 100 * 0.07 = 84000
Thus, when 320000 cash dividend is declared, 2 years ( current year and arrear year) preference dividend will be paid first and the remaining will be distributed among common stock holders.
The dividedn for common stockholders is 320000 - (84000 * 2) = $152000
