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3 years ago

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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Makers Corp. had additions to retained earnings for the year just ended of $261,000. The firm paid out $194,000 in cash dividend

gladu [14]

Answer:

a. $3.5 per share

b. $1.49 per share

c. $38.38 per share

d. 1.93 times

Explanation:

The computation is shown below:

a. Earning per share = (Net income) ÷ (Number of shares)

where,

Net income = Additions to retained earnings + cash dividends

= $261,000 + $194,000

= $455,000

So, the earning per share equal to

= $455,000 ÷ 130,000 shares

= $3.5 per share

b. Dividend per share = (Total dividend) ÷ (number of shares)

= ($194,000) ÷ (130,000 shares)

= $1.49 per share

c. Book value per share = (Total equity) ÷ (number of shares)

= ($4,990,000) ÷ (130,000 shares)

= $38.38 per share

d. Market to book ratio = (Market price per share) ÷ (book value per share)

= $74 ÷ $38.38

= 1.93 times

7 0

3 years ago

Cash outflows for McKinney Publishing in 2020 included:________. $347,000 in salaries to authors. $180,000 in fees to contracted

Marat540 [252]

Answer: $527,000

Explanation:

Salaries to authors = $347,000

Fees to contracted editors = $180,000

Copyrights obtained = $83,000

Purchase of a new printing warehouse = 1.3 million

Upgrade of current printing equipment = $560,000

McKinney Enterprises expense will be:

= Salaries to authors + Fees to contracted editors

= $347,000 + $180,000

= $527,000

4 0

2 years ago

The Car Service Center has the design capacity to perform an average of 60 repairs per day. The effective capacity of this repai

ELEN [110]

Answer:

(36 /60 ) * 100

Explanation:

Based on the information given the capacity utilization percentage will be :

Capacity utilization percentage= (36 /60 ) * 100

Capacity utilization percentage=60%

Where,

36 per day represent Actual repairs number

60 repairs per day represent Design capacity

Therefore capacity utilization percentage is (36 /60 ) * 100

7 0

3 years ago

Tora Co. plans to produce 1,020 units in July. Each unit requires two hours of direct labor. The direct labor rate is $20 per ho

kompoz [17]

Answer: $40,800

Explanation:

Each unit requires 2 hours of direct labor.

1,020 units would therefore require:

= 1,020 * 2

= 2,040 hours of labor

The direct labor rate is $20 per hour. If there are 2,040 hours to be worked, the cost would therefore be:

= 20 * 2,040

= $40,800

7 0

3 years ago

Alexandra is a veterinarian employed by Fast Vet Services. Susan is a self-employed veterinarian. During the current year, Alexa

melomori [17]

Answer/Explanation:

Susan's veterinary expenses are deductible for adjusted gross income

because she is self-employed and at the same time her vet practice constitutes a business.

Therefore, all of her veterinary expenses are deductible for adjusted gross income.

Alexandra is said to be in a trade or business as an employee and

the unreimbursed expenses of an employee are deducted as miscellaneous itemized deductions.

Therefore, Alexandra only benefits if she itemizes her deductions while Susan will always get the full benefit of the deduction.

3 0

3 years ago