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3 years ago

When a tax is placed on the sellers of a product, buyers pay _ and sellers receive _ than they did before the tax?

Business

1 answer:

inessss [21]3 years ago

5 0

When a tax is placed on the sellers of a product, buyer pay more and sellers receive less than they did before the tax.

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Which of the following is not considered a legitimate expense of a partnership? a Interest paid to partners based on the amount

never [62]

Answer:

a Interest paid to partners based on the amount of invested capital.

Explanation:

A partnership is formed between two parties that agree to go into a venture for mutual gain. The parties share ownership of the business entity and as such are entitled to profit from their equity holdings.

Interest paid based on invested capital is considered a distribution of profit by the business and not an expense. This is similar to sharing profit to shareholders in a company.

Legitimate expenses include: cost of sales, staff cost, administrative costs, advertising costs, and professional expenses like hiring an accountant.

8 0

3 years ago

At December 31, 2020, Carter Company had 450,000 shares of common stock issued and outstanding, 350,000 of which had been issued

Dennis_Churaev [7]

Answer:

$3.03

Explanation:

Calculation to determine What should be Twin Rivers' 2020 earnings per common share,

Using this formula

Earnings per common share=

Net Income for 2020/Weighted Average Shares Outstanding

Let plug in the formula

Earnings per common share=$1,160,000/ [(350,000 x 8/12) + (450,000 × 4/12)]

Earnings per common share=$1,160,000/(233,333+150,000)

Earnings per common share=$1,160,000/383,333

Earnings per common share= $3.03

Therefore What should be Twin Rivers' 2020 earnings per common share is $3.03

4 0

2 years ago

1. Which of the following accounts are NOT likely appear in a job order cost system of a service business

Burka [1]

A <u>finished Goods</u> account would most likely not appear in a job order cost system of a service business.

Finished Goods are products that are at a stage in the manufacturing process that is readily available to consumers. Businesses use formulas to calculate finished goods and products to create inventory percentages that determine the value of the goods sold.

The cost of the finished product includes all costs along the way and includes the three main components used in the production of the goods: direct labor, direct materials, and overhead costs. In addition, storage costs will be incurred when purchasing finished products.

Learn more about <u>finished Goods </u>here brainly.com/question/13767214

#SPJ4

8 0

2 years ago

Steve owns Barb, Inc. and has grown the business over the last 15 years and is the sole owner. He decides to sell 40 percent of

Mamont248 [21]

Answer:

a. Steve will not have a capital gain in Year 1 for tax purposes.

Explanation:

Since Steve (the owner of Barb) sold his stocks to an ESOP (employee stock ownership plan), then he will be able to avoid capital gains taxes at least for the first year. ESOPs are qualified retirement plans and when they invest in stocks of the same sponsoring company, the transaction is not taxed if the seller reinvests (buys other stocks). As long as ESOP holds at least 30% of the company's stocks, then Steve can defer his taxes.

3 0

3 years ago

- identify changes and trends as a source of new enterprise ideas

Elena-2011 [213]

Changes and trends are sources of new enterprise ideas. An example can be found in the advent of technology. The advent of internet-enabled devices has led to the growth of internet service providers. The use of headphones, Bluetooth devices, and other accessories has been borne because of new technologies that were not available some fifty years ago.

Changes in trends can lead to the birth of new businesses. Changes in weather condition that pose the risk of skin damage has led to the popularization of sunblocks.

Internet-enabled devices have also led to the introduction of enterprises that deal with gadgets accesories.

These examples show that changes and trends are sources of new enterprise ideas.

Learn more about entrepreneurship here:

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7 0

2 years ago