Answer:
The statement which is incorrect or not true is Option A.
Explanation:
Juanita owns 60% of stock in the corporation, so from the profit of $200,000 in the current year, she should report
= $200,000 × 60%
= $120,000
But the Corporation distributed $45,000 to Juanita. Therefore, she should report only $45,000 for this year not $120,000.
Therefore, the first option is incorrect.
Answer: B. Charlotte
Explanation:
Preference is given to people that live with the dependent so this puts William at the least priority because he doesn't live with Autumn thereby leaving Charlotte and her mother.
Preference is then given to the biological parents of the dependent which means that Diana is has second priority. Charlotte is therefore the the most preferred to claim her daughter as a dependent which would allow her greater tax deductions.
Answer:
The correct answer is B
Explanation:
Bank reserve is the minimum cash which is required to kept on hand through the financial institutions so that could meet the requirements of central bank.
Checkable deposits is a kind of any demand deposit account in anticipation of the checks or the drafts in any form which will be written. In short, it means that the owner of the account could withdraw funds on demand.
So, if the primary decrease in bank reserve will also decrease the checkable deposit as there would be no cash with bank to provide to customers by the amount that is greater than the decrease in the reserve.
Answer:
Macau
Explanation:
First, we need to understand that all countries are impacted financially due to the corona virus. It's predicted that Corona Virus will cause a loss of around $2.7 trillion in Global Economy.
That being said, some countries are impacted more than the others.
Especially those who rely on tourism and hospitality as their main economy. Macau is probably the one that got the hardest hit. Not only this country is located near China (where the virus originally came from) , tourism and hospitality accounted for around 43% of Macau's economy. Basically half of its economic activity shut down due to the virus.
Answer:
A. $96
B. $228
C. $42
Explanation:
A. Calculation to determine the Amount of SUTA tax the company must pay to Nebraska on Porter's wages
SUTA tax =$3,000 x 3.2%
SUTA tax = $96
Therefore the Amount of SUTA tax the company must pay to Nebraska on Porter's wages is $96
B. Calculation to determine the Amount of sUTA tax the company must pay to Michiganion Porter's wages
SUTA tax =($9,000 - $3,000 )x3.8%
SUTA tax =$6,000 x 3.8%
SUTA tax = $228
Therefore the Amount of SUTA tax the company must pay to Nebraska on Porter's wages is $228
C. Calculation to determine the Amount of the net FUTA tax on Porters wages
Net FUTA tax=$7,000 limit) x 0.6%
Net FUTA tax = $42
Therefore the Amount of SUTA tax the company must pay to Nebraska on Porter's wages is $42
