Answer:
$8,800
Explanation:
Calculation for What is the amount of insurance expense that would appear on the company's income statement for the first year ended December 31
First step is to calculate insurance amount per year
Insurance=$26,400/2 years
Insurance= 13,200
Second step is to calculate the insurance value per months
Insurance value=13,200/12 months
Insurance value=1,100
Now let calculate insurance expense
Insurance expense =$1,100 x 8 months
Insurance expense = $8,800
Note that May 1 to December 31 will give us 8 months
Therefore the amount of insurance expense that would appear on the company's income statement for the first year ended December 31 will be $8,800
Your answer is going to be true.
Answer:
d. Corporations pay income tax on corporate earnings, and shareholders pay personal income tax on corporate dividends and gains from the sale of stock.
Explanation:
At the end of each accounting period, the corporation is expected to pay a tax known as income tax from the taxable income earned by the corporation. This tax is paid by the corporation before the amount to be paid to the shareholders of the company in form of dividends.
The shareholders of the company are further subjected as individuals to personal income tax.
This is known as double taxation of dividend. Gains from sale of stock are also taxed under personal income tax.
Dangerous working conditions and long hours of factory jobs in the 1800s
