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2 years ago

How would a good recordkeeping system help during a tax audit?

Business

2 answers:

cricket20 [7]2 years ago

6 0

It would help keep the person organized

FromTheMoon [43]2 years ago

4 0

It would keep all the files in place. Many people do their taxes so this would be good.

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On January 1, 20X8, Polo Corporation acquired 75 percent of Stallion Company's voting common stock for $300,000. At the time of

polet [3.4K]

Answer:

Polo will report $318,750 as its investment in Stallion at December 31, 20X8

Explanation:

Common stock = $300,000 acquired at 75%

Net income = $40,000

Pay dividends = $10,000

Increase in value of Patent = $50,000

Economic Life = 10

Amortization = $5,000

Therefore, the $ 5000 would be reduced from the net income.

Investments in Polo = $300,000 + [0.75 × (40000 - 10000 - 5000)]

= $300,000+ 0.75(25,000)

= $300,000+ $18,750

= $318,750

7 0

2 years ago

Fob destination means that goods are owned by the buyer as soon as ______.

RSB [31]

FOB Destination describe goods whose risk will be catered by Seller until being delivered to the buyer.

FOB Destination is an acronym for "Freight on Board" Destination

The FOB Destination is a marine term used to describes that legal title of goods belongs to the Seller until they are delivered to buyer.

In other word, its means that seller of a product owns the risk of loss on a goods until its is delivered to the buyer.

In conclusion, the term states that the goods are owned by the buyer as soon as it is not delivered to the buyer.

Read more on FOB Destination here

brainly.com/question/15102930

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1 year ago

How to write a letter to your brother in abroad telling him your plans after senior high school

drek231 [11]

Answer:

easy

Explanation:

1. address

2. greeting

3. reason for this letter

4. in 2 paragraph state what u want

5. conclusion

6. end greeting

7 0

2 years ago

Who determines Brand value?

vova2212 [387]

Answer:

brand marketers is your answer

7 0

2 years ago

Mountain High Ice Cream Company transferred $72,000 of accounts receivable to the Prudential Bank. The transfer was made with re

docker41 [41]

Answer:

Journal Entry

Explanation:

Cash Dr, $63,360

Loss on sale receivable Dr, $6,640

Receivable from factor Dr, $6,200

To resource liability $4,200

To Accounts receivable $72,000

(Being transfer on the books of Mountain High is recorded)

Working Note :-

2% × $72,000 = $1,440

Cash = ($72,000 × 0.90) - ($72,000 × 0.02)

= $64,800 - $1,440

= $63,360

Loss on sale receivable = ($4,200 + $72,000) - ($63,360 + $6,200)

= $76,200 - $69,560

= $6,640

8 0

3 years ago