Answer:
Total Stockholders' Equity = $2,334,370
Explanation:
Note: See the attached excel file for the stockholders' equity section of the balance sheet for Finishing Touches as of December 31, 2018 with all the formulae used.
In the attached excel file, the retained earnings is calculated as follows:
Retained earnings = Net income – Common dividends - Preferred dividends = $149,000 - $94,000 - $1,330) = $53,670
From the attached excel file, we have:
Total Stockholders' Equity = $2,334,370
When we use the IRS rule which states the standard deduction amount should be greater than $900 or the income earned by the taxpayer for the year in addition with $300 (should not be exceeding the regular standard deduction). Income earned by Toby is $2,897, then add
$300 into it.
The correct standard deduction amount would then be $3,197 ($2,897 +300)=$3197.
Standard deduction is the deduction given by the income tax authorities to the tax payer.
Internal revenue bulletin is the instrument used by the IRS for announcing all the rules.
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The answer is contingency design. It is the sum incorporated into a development spending plan to take care of extra expenses for conceivable outline changes. The measure of possibility fluctuates with the phases of outline. As the plan is finished, the possibility ought to be diminished to almost zero for most school ventures.
Answer:
Which party to the exchange must pay boot to make the exchange work?
- Rufus must pay boot since the FMV of its property is less than the FMV of Hardy's property.
How much boot must be paid?
- $90,000 - $77,500 = $12,500
Assuming the boot payment is made, how much gain or loss will Rufus realize and recognize on the exchange, and what tax basis will Rufus take in the property acquired?
- Rufus doesn't have any gain, and the tax basis for the new asset will be $50,000 + $12,500 = $62,500
Assuming the boot payment is made, how much gain or loss will Hardy realize and recognize on the exchange and what tax basis will Hardy take in the property acquired?
- Since Hardy's property basis is $60,000 and it would be receiving $50,000 (Rufus's property) + $12,500 = $62,500, then it must recognize a $2,500 gain. The basis of Hardy's new property will be $62,500.
Answer:
$102.34
Explanation:
to be able to use the Gordon growth model, we must first determine the growth rate:
(4.15 - 4) / 4 = 3.75%
(4.35 - 4.15) / 4.15 = 4.82%
(4.58 - 4.35) / 4.35 = 5.29%
we can assume that the company will expect the growth rate to be 5.29%
stock price = (dividend + growth rate) / (required rate of return - growth rate)
= ($4.58 x 1.0529) / (10% - 5.29%) = $4.82 / 4.71% = $102.34
