Answer:
(B). Partners report their share of profits as personal income.
Explanation:
According to the Internal Revenue Services (IRS), a partnership itself does not pay taxes.
Profits are shared between the partners in the partnership business who report their share of the profits as personal income.
It is the partners who then pay income taxes on their share of the profits.
Answer: $66,810,000
Explanation: take the balance at the beginning of the year add it to the net income from statement of comprehensive incomes then minus the cash dividends declared from the total of the beginning balance and net income then get the retained balance at the end of the 20Y3 year of 66 810 000.
The stock dividends of 2,600,000 have two accounts involved which is stock( inventory) and dividends declared which is an liability.
Sumter Pumps Corporation
retained income statement for the year ending 31 december 20Y3
balance 01/jan/20Y3 $59,650,000
CHANGES IN EQUITY
Net Income 8,160,000
dividends paid and declared
Cash dividend 1,000,000
stock dividend 0
balance 31 dec 20Y3 $66,810,000
Answer and Explanation:
Given that
Consumption function C = 200 + 0.9Y
Investment I = 300
Aggregate expenditure AE = C + I
Equilibrium AE = Y
Based on the above information
a. The level of equibrium income is
Y = AE = C + I
Y = 200 + 0.9Y + 300
0.1Y = 500
Y = 5000
b. The value of the investment multiplier is
= 1 ÷ (1 - MPC)
= 1 ÷ (1 - 0.9)
= 10
c. The change in the level of equilibrium income if investment increases by 10 is
Y = 200 + 0.9Y + 310
0.1Y = 510
Y = 5100
Change is
= 5,100 - 5,000
= 100
<span>The economic resources that are owned by a business are called stockholders' equity.
False</span>
Answer:
Discretionary income
Explanation:
Discretionary income is what is left of a person's income for spending, investing, or saving after paying taxes and necessities.
