Answer: 4.37%
Explanation:
As interest is tax deductible, the Sundial Interest needs to be adjusted for tax to find out the true return.
Jackson as a single tax payer earning $47,500 in 2019 has a tax rate of 22% according to the IRS Tax bracket for that year.
That means that the interest that true interest that Sundial is offering him is,
= 5.6 * ( 1 - tax rate)
= 5.6 * ( 1 - 0.22)
= 5.6 * 0.78
= 0.04368
= 4.37%
To make Jackson indifferent with the same amount of risk, the city of Mitchell would have to offer him the same interest that Sundial is offering net of tax which is 4.37%.
Answer:
Explanation: from the above question, the total of cash and cash equivalent to be recorded in the balance sheet includes all cash balances in the bank and cash balance in the petty cash account.
From the above question, the cash and cash equivalent balance as at April 30 is $1,000 plus all bank balances as at that date.
Answer:
Option (B) is correct.
Explanation:
Given that,
Net income = 50,000
Preferred dividend = 2,000
Outstanding common stock:
= (40,000 × 2) + (10,000 × 6/12 × 2)
= 80,000 + 10,000
= 90,000
2016 basic earnings per share:
= (Net income - Preferred dividend) ÷ Outstanding common stock
= (50,000 - 2,000) ÷ 90,000
= 48,000 ÷ 90,000
= $0.53 per share
Therefore, the 2016 basic earnings per share is $0.53.
Around 56 thousand and 65 thousand dollars, I think
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