Which of the following is true about a business plan?

Turkey Corp., a cash basis calendar year C corporation in Savannah, Georgia, has $100,000 of accounts receivable on the date of

Viefleur [7K]

Answer:

The correct answer is $24,500.

Explanation:

According to the scenario, the given data are as follows:

Total Account receivable = $100,000

Amount collected = $70,000

So, if there is sufficient taxable income, then assume tax rate to be 35%.

So, we can calculate the Gains tax by using following formula:

Gain tax = Amount collected × Tax rate

By putting the value, we get

Gain tax = $70,000 × 35%

= $24,500.

5 0

3 years ago

Costs of goods sold of a manufacturing represents the costs related to building a product that are expensed when it is sold. to

Anastasy [175]

There are 3 types of Inventory as below:

1) Raw Material Inventory

2)Work in Process Inventory

3)Finished Goods Inventory

Schedule for Work in Process Inventory is as below:

Beginning Balance of Work in Process...................................................................XXX

Direct Materials

Beginning Balance of Direct Materials................................XXX

Add: Purchase of Raw Materials...........................................XXX

Total Raw Materials Available...............................................XXX

Less: Ending Balance of Raw Materials..............................(XXX)

Raw Materials Consumed.....................................................................XXX

Direct Labour...........................................................................................XXX

Manufacturing Costs

Indirect Labour....................................XXX

Factory Repairs...................................XXX

Factory Utility......................................XXX

Total Manufacturing Overhead............................................................XXX

Total Manufacturing Costs....................................................................................XXX

Total Cost of Work in Process..............................................................................XXX

Less: Ending Balance of WIP................................................................................(XXX)

Cost of Goods Manufactured................................................................................XXX

3 0

3 years ago

The term ___________________ describes the proportion of deposits that the bankmust hold in the form of reserves that are not lo

antoniya [11.8K]

Answer:

reserve ratio

Explanation:

3 0

3 years ago

Walter Utilities is a dividend-paying company and is expected to pay an annual dividend of $0.65 at the end of the year. Its div

Korolek [52]

Answer:

option 14.92%

Explanation:

Data provided in the question;

Expected annual dividend to be paid = $0.65

Expected growth rate = 9.50%

Walter’s stock currently trades = $12.00 per share

Now,

Expected rate of return = $\frac{\textup{Expected dividend}}{\textup{Stock price}}\times100\%$ + Growth rate

or

Expected rate of return = $\frac{\$0.65}{\$12.00}\times100\%$ + 9.50%

or

Expected rate of return = ( 0.054167 × 100% ) + 9.50%

or

Expected rate of return = 5.4167% + 9.50%

or

Expected rate of return = 14.9167 ≈ 14.92%

Hence, the correct answer is option 14.92%

4 0

3 years ago

Let’s assume that we are about to appraise a house using the cost approach. The home was originally constructed in the early 190

guajiro [1.7K]

Answer:

$290,000

Explanation:

We start with the cost of building a replica of the house:

building a new house: $350,000

plus highest and best use $25,000

minus perceived value loss ($20,000)

minus physical deterioration ($50,000)

<u>minus building obsolescence ($15,000) </u>

appraised value $290,000

8 0

3 years ago