_________ are long-term obligations issued by governments and private corporations.

Ellie and Linda are equal owners in Otter Enterprises, a calendar year business. During the current year, Otter Enterprises has

ivolga24 [154]

Answer:

a and b

At the level of entity, otter pays no taxes either on the capital gains or on the business income.

Members will pay taxes on the capital gains and on business income.

c

The distribution of $25,000 each will be taxable in the hands of members as it is a dividend income.

Business Income and Capital gain of entity will have no impact for Linda and Ellie on their income tax returns.

Explanation:

a A partnership and b. An S corporation

At the level of entity, otter pays no taxes either on the capital gains or on the business income.

Members will pay taxes on the capital gains and on business income.

Taxable income of each member:

Ellie

Business Income is $55,000

Capital Gain is $7,500

Linda

Business Income is $55,000

Capital Gain is $7,500

Business Income = Gross Income - Operating expense

= $320,000 - $210,000

= $110,000

Note: Distribution of $25,000 will have no impact, as it only decrease their basis in the firm or company.

c. A C corporation

Ottor pays for the business income which amounts to $110,000 as well as the Capital gain of $15,000 at the applicable tax rates.

Members pays taxes only when they receive the distribution which is dividends.

The distribution of $25,000 each will be taxable in the hands of members as it is a dividend income.

Business Income and Capital gain of entity will have no impact for Linda and Ellie on their income tax returns.

7 0

3 years ago

The term ___________ is a popular way to describe the recession-expansion pattern followed by the economy.

UNO [17]

The term BUSINESS CYCLE is a popular way to describe the rescission-expansion pattern followed by the economy.

5 0

4 years ago

The disagreements between Hamilton and Jefferson led to a revised Constitution. a reformed Congress. new cabinet members. new po

son4ous [18]

Answer:

new politacal parties

Explanation:

im taking the test right now

5 0

3 years ago

Read 2 more answers

The assets of Dallas & Associates consist entirely of current assets and net plant and equipment, and the firm has no excess

OlgaM077 [116]

Answer:

Explanation:

1.Total Debt = Total Assets – Total Equity = 2,700,000 – 1,550,000

= $1,150,000

2.Total assets = Total liabilities +Total equity = $2,700,000

3.Current Assets = Total Assets – Plant and Equipment = 2,700,000-2,300,000 = 400,000

4.Current Liabilities = Total Liabilities – Long term debt = 1,150,000 – 748,000 = $402000

5.Accounts payables and accruals = current liabilities – notes payables

= 402000 – 150,000 = $252000

6.Working capital = Current Assets – Current Liabilities = 400,000-402,000

= -2000

7.Net operating working capital = Current assets – Accounts payables and accruals = 400,000 – 252,000 = 148,000

8.Difference = -2,000-148,000 = -150,000 (indicates note payable)

Recalculation with new information:

1.Total Debt = Total Assets – Total Equity = 4,000,000 – 2,000,000 -500,000 =

= $1,500,000

2.Total assets = Total liabilities +Total equity = $4,000,000

3.Current Assets = Total Assets – Plant and Equipment = 4,000,000-3,000,000 = $1,000,000

4.Current Liabilities = Total Liabilities – Long term debt = 1,500,000 – 950,000 = $550000

5.Accounts payables and accruals = current liabilities – notes payables

= 550,000 – 150,000 = $400,000

7 0

3 years ago

free pdf community revival in the wake of disaster: lessons in local entrepreneurship (perspectives from social economics)

Bogdan [553]

According to Community Revival in the Wake of Disaster, entrepreneurs, broadly considered as those who spot and seize opportunities to foster social change, fulfill this crucial function.

It can be challenging to recover after natural disasters like tsunamis, hurricanes, earthquakes, and floods. Residents of communities must be able to both obtain the resources they need for reconstruction and get around the issue of collective action that plagues post-disaster relief efforts.

The community revival in the wake of disaster illustrate how entrepreneurs support community recovery by providing necessary goods and services, restoring and replacing disrupted social networks, and signaling that community rebound is likely and, in fact, underway. The recovery efforts following Hurricanes Katrina and Sandy in New Orleans, Louisiana, and Rockaway, New York, are used as examples. They contend that encouraging businesses to take action after natural disasters is crucial for establishing recovery and resilient communities.

To learn more about natural disaster click here:

brainly.com/question/932110

#SPJ4

3 0

2 years ago