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3 years ago

The tax rate of $.0815 in decimal can be expressed as _____ mills.

1 answer:

6 0

The tax rate of $.0815 in decimal can be expressed as 81.5 mills.
one mill is one thousandth of a currency unit, or 0.001$. So 0.0815 in mills means we have to divide 0.0815 by 0.001
0.0815/0.001 = 81.5

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The shareholders' equity of Green Corporation includes $320,000 of $1 par common stock and $510,000 par of 7% cumulative preferr

Mama L [17]

Answer:

$25,300

Explanation:

The computation of the common shareholders received the dividend for the year 2021 is shown below:

Since in the year 2021, the dividend i.e. declared is $61,000

Now the preference shareholders dividend is

= $510,000 × 0.07

= $35,700

So for common shareholders, the dividend would be

= $61,000 - $35,700

= $25,300

8 0

3 years ago

David and Darlene Jasper have one child, Sam, who is 6 years old (birthdate July 1, 2012). The Jaspers reside at 4639 Honeysuckl

Andrei [34K]

Answer:

Explanation:

David:

Earnings from Apple Company (office manager)

$26,125

Federal income tax withheld

2,800

State income tax withheld

1,050

Darlene:

Earnings from Rose Company (perfume tester)

$25,100

Federal income tax withheld

2,650

State income tax withheld

900

Their other income includes interest from Pine Tree Savings and Loan of $1,825. Other information and expenditures for 2016 are as follows:

Interest:

On home acquisition mortgage

$11,250

Credit card

925

Taxes:

Property taxes on personal residence

1,300

State income taxes paid in 2016 (for 2015)

315

Contribution (with written acknowledgement) to church

990

Medical insurance

475

Medical and dental expenses

5,800

Income tax return preparation fee paid in 2016

200

Actual general state sales tax for 2016

1,016

Payment of union dues

225

3 0

3 years ago

The December 31, 2018, adjusted trial balance for Fightin' Blue Hens Corporation is presented below.Accounts Debit CreditCash $1

zepelin [54]

Answer:

These can be prepared as shown below:

Explanation:

1. Prepare a statement of stockholder equity for the year ends December 31, 2018, assuming no common stock was issued during 2018.

To do this, the income statement is first prepared by ignoring tax as follows:

Fightin' Blue Hens Corporation

Income Statement

for the year ended December 31, 2018.

Details $

Service Revenue 300,000

Salaries Expense (200,000)

Rent Expense (10,000)

Depreciation Expense (20,000)

Interest Expense (3,000)

Earnings for the year  67,000 

Therefore, we have:

Fightin' Blue Hens Corporation

Statement of Stockholder Equity

for the year ends December 31, 2018

Details $

Common stock 100,000

Retained Earnings 40,000

Earnings for the year 67,000

Stockholder Equity 207,000

2. Prepare a classified balance sheet as of December 31, 2018.

A balance sheet is a balance sheet that have different classifications suchas fixed assets, current assets and liabilities, long-term liabilities, and stockholder equity. This can be prepared as follows:

Fightin' Blue Hens Corporation

Classified Balance Sheet

for the year ends December 31, 2018

Details $ $

Fixed Assets

Equipment 200,000

Accumulated Depreciation (115,000)

Net Fixed Assets 85,000

Current Assets

Cash 10,000

Accounts Receivable 130,000

Prepaid Rent 4,000

Supplies 20,000

Total current assets 164,000

Current Liabilities

Accounts Payable (10,000)

Salaries Payable (9,000)

Interest Payable (3,000)

Working capital 142,000

Long-term Liabilities

Notes Payable (due in two years) (20,000)

Net Total Assets  207,000

Financed by:

Common stock 100,000

Retained Earnings 40,000

Earnings for the year 67,000

Stockholder Equity 207,000

Note: When a balance sheet is accurately prepared, the net total assets and the stockholder equity must be equal as above with both equaling $207,000.

6 0

3 years ago

Imagine that you invest $100,000 in an account that pays 5.9% annual interest compounded monthly. What will your balance be at t

kodGreya [7K]

The compound interest formula is: $A= P(1+ \frac{r}{n} ) ^{nt}$
Where:
A is the amount you will have.
P is the money you are investing.
r: is the interest rate (in decimals)
n: number of times the interest is compounded per year
t: time (in years)

The first thing is converting the rate from percentage to decimal:
$\frac{5.9}{100} = 0.059$

Since the interest is compounded every month and a year has 12 months n=12.

Now we can replace the values in our formula:
$A=100000(1+ \frac{0.059}{12} ) ^{(12)(18)}$

We can simplify the exponents to get:
$A=100000(1+ \frac{0.059}{12} ) ^{216}$

Finally, we can use our calculator to get 288463.33

After 18 your balance in your bank account will be $288463.33

4 0

3 years ago

Enterprise software includes a database and thousands of predefined ________________.

Lelechka [254]

Answer:

business processes

Explanation:

Enterprise software includes a database and thousands of predefined business processes that reflect best practices

7 0

2 years ago