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Sonja [21]
3 years ago
11

What is the relationship between Audit and tax services?

Business
1 answer:
jeka57 [31]3 years ago
6 0

Answer and Explanation:

The greatest contrast among expense and review is that with charge you will be working in either open bookkeeping or corporate bookkeeping. In case you're in the open bookkeeping region, you're going to survey the fiscal reports and afterward evaluate the duty obligation for the enterprise  

An expense review is an assessment of your government form by the IRS to confirm that your salary and deductions are precise. An assessment review is the point at which the IRS chooses to analyze your government form somewhat more intently and confirm that your salary and deductions are precise.

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Temple Square Inc. reported that its retained earnings for 2005 were $490,000. In its 2006 financial statements, it reported $60
V125BC [204]

Answer:

Dividend = $40,000

Explanation:

Given:

Temple Square Inc. reported that its retained earnings for 2005 were $490,000.

In its 2006 financial statements, it reported $60,000 of net income,

It ended 2006 with $510,000 of retained earnings. ( Ending retained earnings )

Question asked:

How much were paid as dividends to shareholders during 2006 ?

Solution:

Here given that Temple Square Inc. reported that its retained earnings for 2005 were $490,000, means this amount will carry forward and will be considered as Beginning retained earnings for 2006.

Now, we have to find, how much dividends were paid to shareholders during 2006.

As we know:

Ending retained earnings = Beginning retained earnings + Net income - Dividend

510,000 = 490,000 + 60,000 - Dividend

510,000 = 550,000 -  Dividend

Subtracting both sides by 550,000

- 40,000 = -  Dividend

Adding both sides by minus ( - )

Dividend = $40,000

Therefore, Temple Square Inc. paid $40,000 to shareholders during 2006.

3 0
3 years ago
Which would have the smallest effect on the amount of money a candidate spends on a campaign?
Marat540 [252]
The number of opponents a canidate faces
8 0
3 years ago
You have just received a windfall from an investment you made in a​ friend's business. He will be paying you at the end of this​
ohaa [14]

Answer:

a. $80,318.70

b. $97,568.57

Explanation:

Here is the full question :

You have just received a windfall from an investment you made in a​ friend's business. She will be paying you $ 15 comma 555 at the end of this​ year, $ 31 comma 110 at the end of next​ year, and $ 46 comma 665 at the end of the year after that​ (three years from​ today). The interest rate is 6.7 % per year. a. What is the present value of your​ windfall? b. What is the future value of your windfall in three years​ (on the date of the last​ payment)?

Present value is the sum of discounted cash flows

Present value can be calculated using a financial calculator

Cash flow in year 1 = $ 15,555

Cash flow in year 2 = $31,110

Cash flow in year 3 =  $ 46,665

I = 6.7%

Present value = $80,318.70

The formula for calculating future value:

FV = P (1 + r)^n

FV = Future value  

P = Present value  

R = interest rate  

N = number of years  

$80,318.70(1.067)^3 = $97,568.57

3 0
3 years ago
Assume the following information:
omeli [17]

Answer:

Total product cost= $181,000

Explanation:

<u>The product cost is the sum of the direct material, direct labor, and manufacturing overhead:</u>

Direct materials $ 70,000

Direct labor $ 37,000

Variable manufacturing overhead $ 12,000

Fixed manufacturing overhead $ 25,000

Total manufacturing overhead $ 37,000

Total product cost= $181,000

7 0
3 years ago
The term ______ refers to the degree to which a firm uses debt financing (or other types of fixed-cost financing) to fund its op
jek_recluse [69]

Answer:

The term Operating leverage refers to the degree to which a firm uses debt financing (or other types of fixed-cost financing) to fund its operations.

Explanation:

Operating leverage is a measure of how revenue growth translates into growth in operating income

4 0
3 years ago
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