Answer:
$1,634
Explanation:
The computation of the additional tax to be paid is shown below:
Additional tax is
= Tax rate × net investment income
= 0.038 × $43,000
= $1,634
We simply multiplied the tax rate with the net investment income in order to determine the additional tax
Answer:
Operating cash flows = $208,000
Explanation:
we know here that
accounts payable balance has decreased from $36,900 and $31,200
inventory balance has increased from $43,300 and $47,000
so to find out the operating cash flow any decrease in current liabilities and any increase in current assets should be subtracted from net income
so
accounts payable= current liability
and inventory = current asset
and
The operating cash flows to be reported should be computed as
Operating cash flows = Net income - Decrease in accounts payable balances - Increase in inventory balance ....................1
Operating cash flows =
Operating cash flows = $217,400 - ($36,900 - $31,200) - ($47,000 - $43,300)
Operating cash flows = $208,000
Answer:
C) common stockholders, but after that of bondholders.
Explanation:
Preferred stockholders hold a claim on assets that has priority over the claims of common stockholders but after that of bondholders.
The preferred shareholder is given preference for the distribution of dividends, which is higher than the common stock. It is paid as per the discretion of the company´s directors. Instead, they have limited right and they do not vote for corporate governance like a common stockholder. In the case of the dissolution of the company, the preferred shareholders will still receive payment due to them in terms of dividends. They have a feature of both bonds and equity stockholders.
Answer and Explanation:
1. Interest Revenue $23,000
Sales Revenue $510,000
To Income Summary $533000
(Being closing of revenues accounts are closed)
2. Income Summary $453,000
To Sales returns $20,000
To Sales Discounts $7,000
To Cost Of goods sold $310,000
To Freight out $2,000
To Advertise Exp $15,000
To Interest Exp $19,000
To Salaries & Wages $55,000
To Utility $18,000
To Depreciation $7,000
(Being closing of expenses accounts are closed)
3. Income Summary $80,000
To Retained Earning $80,000
(Being profit is recorded)
4. Retained Earning $30,000
To Dividends $30,000
(Being closing of dividend is recorded)
The answer should be is 100000 i think let me know
