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Marina86 [1]
2 years ago
7

Management of a close corporation often resembles that of a______, but a corporation must meet the statutory requirements to rem

ain a corporation. Often, shareholders in a close corporation the transferability of shares. If a majority shareholder mis-appropriates company funds, the normal remedy for the other shareholders is to have their shares to determine value and then that value.a. partnership.
b. restrict.
c. appraised.
d. recive.
Business
1 answer:
Reika [66]2 years ago
8 0

Answer:

Explanation:

The statement in the question is not complete and should be the following with each of the answers provided being part of the statement like so,

Management of a close corporation often resembles that of a Partnership , but a corporation must meet the statutory requirements to remain a corporation. Often, shareholders in a close corporation restrict the transferability of shares. If a majority shareholder misappropriates company funds, the normal remedy for the other shareholders is to have their shares appraised to determine value and then receive that value.

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Contribution Income Statement and Cost-Volume-Profit Graph Kopi Company produces dog cages that are sold for $38 per unit. The c
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Answer:

Results are below.

Explanation:

<u>First, we need to calculate the total unitary variable cost:</u>

Direct materials= 10

Manufacturing overhead= 5

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Total unitary variable cost= $22

<u>Now, the contribution margin income statement:</u>

Sales= 5,000*38= 190,000

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Total contribution margin= 80,000

Fixed Manufacturing overhead= (35,000)

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Net operating income= 30,000

7 0
3 years ago
Natalie owns a condominium near Cocoa Beach in Florida. This year, she incurs the following expenses in connection with her cond
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Answer and Explanation:

Natalie's Gross Income = $10,000

75 + 35 = 110 days

Expenses:

Insurance Expense (75/110) x 1000                 682

Advertising Expense                                        500

Mortgage Interest (75/110) x 3500                  2386

Property Taxes (75/110) x 900                         614

Repairs and Maintenance (75/110) x 650        443

Utilities    (75/110) x 950                                   648

Depreciation (75/110) x 8500                          5795

Until the depreciation expenses the total expenses accumulate to  5273. If we deduct that with the gross income total we get 4727. We can only deduct 4727 from the total portion of 5795 depreciation expense.

Therefore, for AGI deductions we take total of (5273 + 4727) = $10,000

For Natalie's personal deduction of AGI

Mortgage interest (35/110) x 3500                    1114

Property taxes (35/110) x 900                            286

Total personal deduction for AGI                    $1400

4 0
3 years ago
On January 1, 2004, Kay Inc. issued its 10% bonds in the face amount of $400,000, which mature on January 1, 2014. The bonds wer
DaniilM [7]

Answer:

Unamortized discount is $43,700

Explanation:

Unamortized bond discount=original bond discount-amortization to date

original bond discount is $46,000

Amortization =interest  payable-interest expense

interest payable=$400,000*10%*6/12

                            =$20,000

Interest expense=$354,000*10%*6/12

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amortization of discount=$20,000-$17,700

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unamorized bond discount=$46000-$2300

                                            =$43,700

The unamorized bond discount at the end of the first six months is $43,700

                     

3 0
3 years ago
Fiat borrowed $80,000 on October 1, 2019. Fiat will not make any payments until October 1, 2021, and at that time, Fiat will pay
natita [175]

Answer:

The answer is d. Interest payable of $2,500; interest expense of $2,000

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Interest component over 2 years = $84,000- $80,000 = $4000

interest expense for a year = 4000/2 = $2000

Interest payable = 1.25 years   * 2000 = $2500

8 0
2 years ago
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