Lena makes $45 profit.
Extra information:
The amount of profit Lena makes is 3/4th of the profit Joe makes, seeing as when Joe makes $4 profit, Lena makes $3 and $3 is 3/4th of $4. Therefore, when Joe makes a profit of $60, Lena makes a profit of (60 x 3/4) $45.
Answer: Federal income tax equal to that withheld from employees.
Explanation:
Federal Income Tax equal is a withholding Tax that the employer takes from an Employee's salary and pays it directly to the Government in form of income taxes.
It will therefore count towards the Income Taxes that the person is to pay during the year.
This is an Employee Payroll Tax because it comes from the Employees's salary.
Answer:
The correct answer is the option A: They should definitely not invest with this or any other broker who makes cold calls promising unlimited returns or guarantees against losses for an investment.
Explanation:
To begin with, the common people should never or at least the major of the times invest in with brokers who call directly to the person without even knowing them, due to the fact that there are plenty of broker who are not even legally registered and therefore that they can promised everything but later give nothing and even more it does not matter a writing condition due to the fact that most of the times there are always broker prepared for this type of situation.
Answer:
The correct answer is D.exclusive.
Explanation:
Exclusive distribution refers to a commercial agreement between a producer and a distributor that states that the former will only sell his products to the latter if he agrees not to sell competing products.
Exclusive distribution can take different forms. One of the most used ways is that the retailer or distributor undertakes to sell only and exclusively the product of a certain manufacturer or producer while it is committed to use only this distributor as its sales channel.
Another alternative of agreement, although less used, is that the distributor is obliged to buy all the units of a certain product from its manufacturer.
The exclusive distribution agreement is not necessarily expressed in a formal and written contract, although this happens in many cases, in others it is only a word agreement between the parties.
Answer: $9025 §1231 loss
Explanation:
From the question, we are informed that Sumner sold equipment that it uses in its business for $30,800 and that the equipment was bought a few years ago for $79,600.00 and has claimed $39,775 of depreciation expense.
Assuming this is Sumner's only disposition for the year, the amount and type or character of Sumner's gain or loss goes thus:
The book value of the equipment will be:
= $79600 - $39775
= $39825
Since the equipment is sold for $30,800, the loss will be:
= $39825 - $30800
= $9025
It should be noted that there will be no depreciation recapture because the asset is sold for a loss.