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polet [3.4K]
3 years ago
8

The following information for "2019" pertains to Bartley Corporation: Capital contributions by shareholders $50,000 Realized los

s on sale of treasury stock (10,500) Income from rental property in a sinking fund (in the hands of a trustee) 5,500 Rent paid directly to a bond holder on a lease of corporate property 8,000 What is the amount of gross income to Bartley Corporation for 2019?
Business
1 answer:
Nadusha1986 [10]3 years ago
7 0

Answer:

$13,500

Explanation:

Bartley's gross income should include only two items:

  1. income from rent paid directly to a bond holder
  2. income from rental property in a sinking fund

2019 gross income = $8,000 + $5,500 = $13,500

The net gains or losses associated to the selling or rebuying of stocks are considered capital gains or losses, and they are taxed differently than gross income.

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Gardiner, Inc. reported a retained earnings balance of $190,000 at December 31, 2024. In June 2025, Gardiner discovered that mer
Drupady [299]

Answer: $246,000

Explanation:

Merchandise costing $20,000 had been omitted from the Ending Inventory.

Ending inventory is deducted from Cost of Goods sold which means that the Cost of Goods sold was overstated by $20,000.

Cost of Goods sold are subtracted from sales to find Gross Income so if it was overstated then Income was understated by $20,000.

Accrued Revenue is to be added to Income so if it was omitted then income was understated by $50,000.

Income in total was therefore understated by = 20,000 + 50,000

= $70,000

The correcting entry is net of tax so;

= 70,000 * ( 1 - 20%)

= $56,000

Retained earnings will therefore be;

= 190,000 + 56,000

= $246,000

6 0
3 years ago
A company’s capital structure decisions address the ways a firm’s assets are financed (using debt, preferred stock, and common e
MArishka [77]

Answer:

Option D (The optimal........capital) would be the right choice.

Explanation:

  • The optimal composition of capital would be the one with the lowest average capital structure.
  • Such alternatives are meaningless since the optimal capital structure is not reflected by them. Maximizing earnings growth, interest burdens, or equity burdens would not enhance the worth including its shareholder.
7 0
4 years ago
What are the procedures of manage discrepancies?
d1i1m1o1n [39]

Answer:

Discrepancy management is the process that systematically addresses discrepancies generated within a study. For each discrepancy assigned to a user role, a user must identify the cause, assess the error, and determine the appropriate action. The user can choose to resolve the discrepancy or route it to another user.

Explanation:

7 0
4 years ago
Joseph contributed $25,000 in cash and equipment with a tax basis of $6,400 and a fair market value of $12,600 to Berry Hill Par
kifflom [539]

Answer:

(A) $31,400

(B) $6,400

Explanation:

Joseph contributed $25,000 in cash and equipment

The tax basis is $6,400

The fair market value paid to Bill hill partnership is $12,600

(A) Joseph tax basis in his partnership interest can be calculated as follows

= contribution+tax basis

= $25,000+$6,400

= $31,400

(B) Since Joseph contributed a tax basis of $6,400 to Bill hill partnership in exchange for a partnership interest then, Bill hill's basis in the equipment is $6,400

8 0
3 years ago
President Zane is adamant about getting feedback from customers about how the company could improve. They gather data through su
Artist 52 [7]

Answer:

These are the options for the question:

A.credibility of the source

B.information quality

C.whether the information is negative or positive

D.the cost of obtaining the information

E.how the information is to be used

And this is the correct answer:

C.whether the information is negative or positive

Explanation:

Because the information is being gathered with the goal of obtaining feedback from the customers about how the company could improve, making such changes depend on whether the information is negative or positive.

If for example, all the customers gave positive feedback, then the company would not need to change anything about its operation: it would be satisfying customer expectations.

4 0
4 years ago
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