Answer:
$,1,326
Explanation:
Calculation to determine how much can Clark claim as a child and dependent care credit in 2020
Using this formula
Amount to claim=Tax rate*(Housekeeper salary+ Amount paid to Kiddie play camp)
Let plug in the formula
Amount to claim=26% *($3,600 + $1,500)
Amount to claim=26%*$5,100
Amount to claim=$1,326
Therefore The amount that Clark can claim as a child and dependent care credit in 2020 is $1,326
Answer:
Option C, Double taxation on profits and individuals
Explanation:
The disadvantages of the corporation form of ownership are as follows -
a) It takes lot of time and hence is time consuming
b) The taxation gets double
c) Also, the formalities/protocols are very tough
Hence, the option C is correct
Answer:
Option B is true.
Explanation:
Giving the following information:
The break-even point in units formula is:
Break-even point= fixed costs/ contribution margin
What changes the break-even point:
A variation in fixed costs.
A variation on the selling price.
A variation in the unitary variable cost.
<u>The higher the fixed costs, the higher the number of units. Lower the contribution margin, the higher the number of units.</u>
Therefore:
a. An increase in contribution margin per unit causes the break-even point in units to increase. False, is the opposite.
b. An increase in fixed costs causes the break-even point to increase. True, now the organization needs to sell more units to cover the fixed costs.
c. The break-even point in sales dollars equals total fixed costs divided by contribution margin per unit. False, in dollars you need to divide it for the contribution margin ratio (contribution margin / selling price).
d. A decrease in the variable cost per unit causes the break-even point in units to increase. False, is the opposite.
Answer:
The trader should orders to buy ABC stock or take a long position to the stock.
Explanation:
The stock has been fluctuating for 3 months, hence, its value should be well analysed. Now if there is a breakout through the support level, usually with a good quarterly performance report, the stock is likely to go "bull". Buying and holding the stock is a rational decision.
Answer:
Total Asset = $2,598,200
Explanation:
Accounting equation : Asset = Equity + liabilities
Equity =common stock + retained earnings
= ( 5000*$400) + (40000 - 1800)
= $2,000,000 + 38200
= $2,038,200
Liabilities = $240,000 + 320000
= $560,000
Total Equity and Liabilities = 2038200 + 560000
= $2,598,200
double entry principle helps to ensure that the accounting equation is done e.g when common stock is issued contra entry is bank if cash is received.
