Answer:
B, For a partnership, it is calculated at the entity level.
Explanation:
For a partnership, it is calculated at the entity level. This is to ensure that double income computation is avoided.
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Mark is dealing with his dissatisfaction through "Loyalty".
<u>Explanation:</u>
Mark is understanding the dissatisfaction which he achieved from the firm inspite of working efficiently and with loyalty, which is a part of great ethics which employees of firm should carry with them. In this case firm should must understand the kind of patience employee have, and should reward them with atleast their basic requirements, so that they should not lose their ethics.
The staff must be committed to the organization and what it stands for to do the finest work. And when businesses help staff learn new skills that promote their professional advancement, they also earn the loyalty of such workers and gain loyal new employees.
Answer: Please refer to the explanation section
Explanation:
Loss from operations = $500 000
Loss (sale of assets) = $1000 000 - $800 000 = $200 000
Income from continuing operations after tax = $2000 000, Therefore income from continuing operations before tax is equal to $200 000 x 100/60 = 3 333 333.333
Net Income before tax = 3 333 333.333 - 500 000 - 200 000
Net Income before tax == 2633 333.333
Net Income After Tax = 2633 333.333 x 60/100 = $1580 000
Income Statement
Income from continuing operations 3 333 333.333
Loss from operations - 500 000
Loss from sale of assets <u>- 200 000</u>
Net Income before Tax 2633 333.333
Taxation <u>-1053 333.333</u>
Net Income 1580 000
Answer:
The journal entry to record the issuance of new stocks is:
Dr Cash 164,800
Cr Common stock 72,100
Cr Additional paid in capital in excess of par value 92,700
When you issue new stocks, the common stock account increases by par value (= 10,300 stocks x $7). Any money obtained over par value must be recorded under the additional paid in capital account (= 10,300 x $9).
