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ycow [4]
4 years ago
7

Kee Holding Corp. has eighty unrelated equal stock-holders. For the year ended December 31, 2019, Kee's income comprised the fol

lowing: Net rental income $ 1,000 Commissions earned on sales of franchises 3,000 Dividends from taxable domestic corporations 90,000 Deductible expenses for 2019 totaled $10,000. Kee paid no dividends for the past three years. Kee's liability for personal holding company tax for 2019 will be based on undistributed personal holding company income of___________.
Business
1 answer:
Andre45 [30]4 years ago
7 0

Answer:

$84,000

Explanation:

Based on the Data provided, the Total Income for Kee Holding Corporation is $94,000 whereas the Total Expenses are $10,000. This expense for $10,000 will be deducted for calculating tax on undistributed personal holding company income because it is a Deductible Expense and Deductible Expenses are allowed to be deducted when calculating Tax liability.  

Rental Income $ 1,000.00  

Commissions  $ 3,000.00  

Dividends  $ 90,000.00  

Total Income  $ 94,000.00  

Deductible Expenses $ 10,000.00  

   

Net Income  $ 84,000.00

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The answer is C. Score
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Based on the information given what should he do is: Make a request to fill out a new W-4 from his employer.

<h3>What is a W-4 form?</h3>

A W-4 form is a tax which an employee fill so as to enable the employer knows the amount of tax that should be withhold from their employees bank check that was given to the employee by the employer.

Since he already filled out a W-4 when he was first hired and he just got married he should request to fill out a new W-4 from his employer.

Filling out a new W-4 from his employer will enable the employer knows how much that that he should be withhold reason being that the W-4  will show Miguel tax situation to the employer.

Inconclusion  what should he do is: Make a request to fill out a new W-4 from his employer.

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5 0
2 years ago
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insens350 [35]

Employee buy-in more readily occurs when employees are informed of the change and are educated on the reason for the change.

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6 0
2 years ago
The Computer Store had the following revenue and expenses during the month ended July 31. Fees for computer repairs $ 41,600 Adv
RideAnS [48]

Answer:

Net profit= $21200

Explanation:

Giving the following information we need to calculate the net profit or loss:

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Fees for computer repairs $ 41,600

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8 0
4 years ago
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Allushta [10]

Answer:

True

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4 years ago
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