Answer:
The statement is false
Explanation:
S corporations are pass through corporations, which means income earned is passed to the owners and they are taxed at individual level.
Shareholders of S corporation earns income in the form of wages and distributions. Wages are charged with payroll taxes. S corporation shareholders are not subject to self-employment taxes which is an advantage for them.
Therefore, the statement is false
Explanation:
we should use income statement to find the new profit and the gross profit first then we can find out the expenses while doing it down on the statement anything which had written expenses is expenses.
Answer:
The total interest paid on this student loan will be equal to:
$
Explanation:
a) Data and Calculations:
Amount of loan = $30,000
Interest rate = 4.75%
Duration of loan = 5 years
Total interest = $30,000 * 4.75% * 5 = $7,125
b) Since interest is paid annually at the end of each year, this means that $1,425 will be paid each year for 5 years. This gives a total of $7,125 ($1,425 * 5). As a result, we can infer that this is a simple interest payment method, because the interests are not added to the principal. That is, the interest is not compounded. So, the calculation is based on the simple interest formula of principal by interest rate by number of periods.
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