Answer: $25,000
Explanation:
When a company owns less than 20% of another company and receives dividends from that company, they are allowed to deduct 50% of that dividend for tax purposes.
Bay Fig owns 10%(less than 20%) of the domestic corporations so qualifies for the 50% reduction:
= Dividends * 50%
= 50,000 * 50%
= $25,000
Answer:
Credit to Accounts Receivable for $2,000
Explanation:
Preparation of the Journal entry
Based on the information given we were told that the Merchandise sold have a terms of 2/10, n/30, which is been recorded by debiting Accounts Receivable as well as crediting Sales for the amount of $2,000 which means that If the payment occurs on January 21 the Journal entry would include Debit to Accounts Receivable for $2,000
Dr Cash 1,960
(2,000-40)
Dr Discount on bills receivable 40
(2,000*2%)
Cr Accounts receivable 2,000
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</span><span>New technologies, social media and web 2.0 are part of the crowdsourcing.</span>
Can you please try to take a better pic
