1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
valina [46]
4 years ago
13

Assume Joe Harry sells his 25 percent interest in Joe's S Corp., Inc., to Tyrone on January 29. Using the daily allocation metho

d, how much income does Joe Harry report if Joe's S Corp., Inc., earned $255,000 from January 1 to January 29 and a total of $3,467,500 from January 1 through December 31 (365 days)?
a. $50,000.
b. $200,000.
c. $28,000.
d. $112,000.
e. None of the choices are correct.
Business
1 answer:
labwork [276]4 years ago
5 0

Answer:

$68,875

Explanation:

Calculation of how much income does Joe Harry report Using the daily allocation method

Since on January 1 to January 29 a total of $3,467,500 was earned in which we as well assumed that Joe Harry sells his 25% interest in Joe's S Corp., Inc., to Tyrone on that same January 29,This means we have to divide the total amount earned by the numbers of days in a year which is 365 days, then multiply it by both 29days(January 1 to January 29) and the 25% Interest.

Hence,

($3,467,500/365 days) × 29 days × 25%

=$9,500×29 days ×25%

=$68,875

Therefore the amount of income that Joe Harry report will be $68,875

You might be interested in
Delivering bad news within an organization might involve sharing bad news with your boss or another employee in person or in wri
Alinara [238K]

Answer:

b. prepare and rehearse

Explanation:

In order to be tactful and professional when personally delivering bad news within organizations, you should prepare and rehearse. Before delivering bad news you need to make sure you have gathered all the information from both sides of the story in order to deliver the news tactfully and professionally. Once you have all the information, rehearsing your delivery will allow you to perfect it and implement a more empathetic approach. Taking a partner is also a good choice, as well as waiting for the right moment.

7 0
4 years ago
Exhibit 9-1 Refer to Exhibit 9-1. If the economy is self-regulating, the price level is:_________.
victus00 [196]

Answer: b) lower in long-run equilibrium than in short-run equilibrium.

Explanation:

A self regulating economy will try to move to the long run Equilibrium.

From the graph attached you will notice that the Price Level at the point where the Long Run Curve intersects with the Aggregate Demand curve is lower than the point where the Short Run Supply curve intersects with the same Aggregate Supply.

This means that Prices in the long term at equilibrium will be less than prices in the short term at Equilibrium should the Economy be a self regulating type that will move towards a long term Equilibrium.

5 0
4 years ago
In the short​ run, the marginal cost of the first unit of output is​ $20, the marginal cost of producing the second unit of outp
Alinara [238K]

Answer:

Hence, the  firm's total variable cost of producing three units of output​ is $48 unit.

Thus, the correct option is d. $48 unit.

Explanation:

The computation of total variable cost is shown below:

= marginal cost of the First unit of output + marginal cost of the second unit of output + marginal cost of the third unit of output

= $20 + $16 + $12

= $48

The variable cost include all type of cost which is change when the production level changes. In the given question, the output level changes with the unit which reflects the variable cost. So, the cost would be added in the computation part.

Hence, the  firm's total variable cost of producing three units of output​ is $48 unit.

Thus, the correct option is d. $48 unit.

6 0
3 years ago
Which one of the following statements is correct? Question 19 options: A longer payback period is preferred over a shorter payba
stich3 [128]

Answer:

The payback period ignores the time value of money.

Explanation:

This could primarily be classified to be amongst the major disadvantages of the payback period that it ignores the time value of money which is a very important business concept. In the other hand, the payback period disregards the time value of money. It is determined by counting the number of years it takes to recover the funds invested. Some analysts favor the payback method for its simplicity. Others like to use it as an additional point of reference in a capital budgeting decision framework.

The payback period does not account for what happens after payback, ignoring the overall profitability of an investment.

8 0
4 years ago
HEH, Inc. owns a large parcel of land which will be used for commercial development. Upon the sale of the property to HEH, Inc.,
Naily [24]

Answer:

covenant.

Explanation:

Based on the information provided within the question it can be said that the type of deed that is in place is called a covenant. This term refers to any agreement that has been made in a written form such as a lease, deed, or other legal contract. Which is what HEH, Inc. has made with the written agreement stating that the lake cannot be touched.

6 0
3 years ago
Other questions:
  • Changes in the prices of key commodities can have a significant impact on a company's bottom line. Energy is an input into virtu
    8·1 answer
  • Mittelstaedt Inc., buys 60 percent of the outstanding stock of Sherry, Inc. Sherry owns a piece of land that cost $207,000 but h
    15·1 answer
  • The baldwin company has just issued $7,235,640 in dividends last year. the effect of this payment on the balance sheet is
    12·1 answer
  • The exponential smoothing forecasting technique slowly responds to changes in the mean level of demand when A. a small alpha val
    7·1 answer
  • An imprest petty cash fund of​ $600 was established for minor disbursements. At the end of the​ month, the fund included petty c
    14·1 answer
  • Walgreens Boots Alliance’s Sales, Cost of Goods Sold, and Gross Profit
    15·1 answer
  • Bannister Co. is thinking about having one of its products manufactured by a subcontractor. Currently, the cost of manufacturing
    8·1 answer
  • The local police department gives a detective test. Everyone who takes the test must have been a police officer for at least fiv
    6·1 answer
  • Jenner works for a mountain bike manufacturing company. His company is being sued by hundreds of customers who have been injured
    13·1 answer
  • Location externalities (skilled labor force, supporting industries in place, etc.) are considered a __________ factor when choos
    11·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!