Answer:
One year from the date of the listing if the transaction is not consummated.
Explanation:
Retention period is the number of years as enforced by the law that a certain records must be kept compulsorily before it is eligible for destruction. The retention period shall be 1 one year from the date of the from the date of listing or closing of the transaction if the transaction is not consummated. Retention period is generally in many cases is 1 year and not more than that.
Answer:
Break even point in dollars = $28,000
Explanation:
We know Sales - Variable Cost = Contribution
Thus, if we are provided that Variable expenses = 65% then contribution = 100 - 65 = 35%
Also provided selling price per unit = $28
Contribution Therefore = $28 
35% = $9.80
Break even point in dollars = 
Here, fixed cost = $9,800
Contribution margin = 35%
Putting values in above formula we have,
Break even point in dollars = 
Solution :
a). In the context, Jim received $ 275 for the car repairing services form some member from the club. In this exchange of the services, an income is been received in amount of a value of the services received ( the gross income includes receipt of the services and also the money and goods). Therefore, Jim is being taxed on an amount of $275 for the car repair services.
b). The issue in this case is whether a "credit" represents the valuable right. As the right can be redeemed for the that is property worth of $150, then under the constructive receipt, Jim must recognize an income of $150.
c). Jim received an credit of $450 to be applied for the next year. If the credit can be redeemed or used for any future services, the taxpayer then can argue that the realization has not yet occurred. But, it has be included in Jim's gross income for the next year when his credit amount becomes the valuable right.
Answer:
d. $896,000.
Explanation:
The computation of the carrying value of the bond is shown below:
The amount after excluding the interest part is
= $936,000 - $16,000
= $920,000
The premium amount is
= $920,000 - 800 × $1,000
= $920,000 - $800,000
= $120,000
Now the premium amortizaton is
= $120,000 × 15 ÷ 75
= $24,000
So, the carrying value is
= $920,000 - $24,000
= $896,000
hence, the correct option is d. $896,000
Answer:
The required rate of return is 12.13%
Explanation:
According to the DDM model, the formula for a price of a stock is
P=D1/R-G
D1= Year end dividend
P= Stock price
R= required rate of return
G= Growth rate of stock
SO we will input the values given to us in the question, in this formula.
145=11.80/(R-0.04)
145R - 5.8=11.80
145R= 17.6
R=17.6/145
R=0.121
R= 12.13%
