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3 years ago

The maximum number of actual shareholders in an s corporation is

1 answer:

5 0

S corporation is a special structure of business ownership which <span>is not required to pay corporate income tax on the profits of the company. </span>
The maximum number of actual shareholders in an s corporation is 100. <span>100 shareholders or less have the benefit of incorporation while being taxed as a partnership.</span>

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Mattel Inc.’s 2016 financial statements show operating profit before interest and tax of $519,233 thousand, net income of $318,0

zhuklara [117]

Answer:

22.38%

Explanation:

Given that,

Operating profit before interest and tax = $519,233

Net income = $318,022 thousand

Provision for income taxes = $91,720 thousand

Net non-operating expense before tax = $109,491 thousand

Mattel’s statutory tax rate for 2016 = 37%

Income before income tax:

= Net Income + Provision for income taxes

= $318,022 Thousand + $91,720 Thousand

= $409,742 Thousand

Effective tax rate:

= (Provision for Income taxes ÷ Income before tax) × 100

= ($91,720 Thousand ÷ $409,742 Thousand) × 100

= 0.2238 × 100

= 22.38%

8 0

3 years ago

On October 1, 2019, Fashion Jewelers accepted a 5-month, 11% note for $7,500 in settlement of an overdue account receivable.

Nataliya [291]

Answer:

The accrued interest on the note at December 31, 2019 is $206.25

Explanation:

Fashion Jewelers accepted a 5-month, 11% note for $7,500.

The amount of interest for 1 year = 11% x $7,500 = $825

The amount of interest for 1 month = $825/12 = $68.75

From October 1, 2019 to December 31, 2019, Fashion Jewelers has accepted the note for 3 months.

The accrued interest on the note at December 31, 2019 = $68.75 x 3 = $206.25

7 0

3 years ago

Many companies secure financing from various sources with various payback periods. Not all funding sources are the same, and in

insens350 [35]

Answer and Explanation:

The classification of the funds as a short term or long term strategy as follows;

a. Line of credit = short term financing

b. Commercial paper = short term financing

c. Trade credit = short term financing

d. Bank load of 10 months = short term financing

e. Bond = long term financing

f. Stock = long term financing

g. Bank load of 20 months = long term financing

In this way, the classifications of the funds has to be done

5 0

3 years ago

Precision Paper Products produces both paper towels and paper napkins. The production process begins with the receipt and pulpin

alexdok [17]

Answer:

d. The maintenance costs associated with the napkin folding machine.

Explanation:

The cost that required one or more processors to produced a final product is known as joint cost

Here in the given question, the maintenance cost is not considered to be a joint cost as this cost are associated with the paper napkins

Also, the pulping, screening, rolling, etc are considered to be joint cost

Hence, the correct option is d.

4 0

3 years ago

DASH Airlines is considering the addition of a flight from Red Cloud to David City. The total cost of the flight would be $1,100

Talja [164]

Answer: add this flight because marginal revenue exceeds marginal costs.

Explanation:

Since the total cost of the flight would be $1,100, of which $800 are fixed costs already incurred, then the variable cost in this case will be )$1100 - $800) = $300.

Since the expected revenues from the flight are $600, thus implies that the total revenue exceeds total variable cost and therefore Dash should add the flight because total revenue is more than total variable cost and the marginal revenue exceeds marginal costs.

7 0

3 years ago