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ycow [4]
3 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]3 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 assets of Prosian Italia, a marble and granite company, amount to $400 million, and its liabilities add up to $180 million.
Kobotan [32]

Answer:

$220 million

Explanation:

According to given information in question:

Assets = $400 million

Liabilities = $180 million

Accounting Equation:

Assets = Equity + Liabilities

$400 million = Equity + $180 million

Equity = $400 million - $180 million

Equity = $220 million

Based on the accounting equation, Prosian Italia's owners' equity is equal to $220 million.

4 0
3 years ago
A young couple has $300,000 that they have used to aggressively trade growth stocks. They place their account with a Registered
EastWind [94]

Answer:

the investment advisor should do nothing

Explanation:

In the scenario that is being described, the investment advisor should do nothing. This is because the investment advisor did nothing wrong or illegal, he simply followed the instructions that were strictly provided by the clients, therefore acting in accordance with the customers' wishes. Meaning that he has nothing to fear from the client's being accept because they have no standing to take legal action against the advisor.

7 0
3 years ago
A man uses a loan program for small businesses to obtain a loan to help expand his vending machine business. The man borrows ​$2
seraphim [82]

Answer:

The ammount due at the end of the loan adds for $27,456

Explanation:

If the payment is in full at maturity, the man must pay the principal of 26,000 plus the interest during the period of 4 years.

It is important to notice that the loan is done at simple interest, so the interest does not capitalize.

Ammount$-due = 26,000 * (1 + 0.014 * 4) = 27,456

3 0
3 years ago
Which feature is a characteristic of secure access? select one: accounting deception environment simulation compliance
Arte-miy333 [17]

Compliance is a feature of secure access.

<h3>What is secure access?</h3>

This is the term that is used in cyber security to mean the bringing together of secure cloud security into the cloud services.

It works by enabling both security and network together as a service that can be rendered via cloud. What this helps to do is to ensure the safety and the security of the services.

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5 0
2 years ago
Consider a bond that costs $1,000 and pays an $80 interest payment each year.
Anna007 [38]

Answer:

The interest rate for this bond is 8% per annum.

Explanation:

Given that,

a bond that costs $1,000 and pays an $80 interest each year.

To find the rate of interest, we use the following formula is

I=Prt

Here P = principal= $1,000

I=interest= $80

t=time= 1 year

∴80 = 1000×r×1

\Rightarrow r=\frac{80}{1000}

⇒r = 0.080

⇒r= 8%

The yield for this bond is 8% per annum.

7 0
3 years ago
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