Answer:
$723,000
Explanation:
Calculation to determine what was Jennings reported net income in 2020
Using this formula
2020 Net income=(2019 Retained earnings-2020 Retained earnings)+ Total Dividend
Let Plug in the formula
2020 Net income=($2,681,000-$2,308,000)+$350,000
2020 Net income=$373,000+$350,000
2020 Net income=$723,000
Therefore Jennings reported net income in 2020 is $723,000
Answer:
USAco
Export of Videos
The true statement is:
c. USAco cannot take a foreign tax credit because USAco purchases the videos in the United States.
Explanation:
A foreign-source income is income generated from exports of goods and services or arising from the income generated by a U.S. foreign subsidiary. Foreign tax credit is granted to US entities that have foreign subsidiaries to avoid double taxation of the foreign income.
Answer:
The answer is: B) It is a type of globalization that lies between total isolation and total globalization.
Explanation:
Semi-globalization is a term that tries to explain how the world is becoming one single market (globalization) but at the same time barriers still exist and are very significant in different markets.
A few years ago this term was used to describe situations that arouse in emerging markets, where governments were trying to protect internal markets while trying to export their goods to developed countries.
Now it has become more common for developed countries to try to set entry barriers for foreign products but at the same time expect other nations to receive their products freely. E.g. Trump's trade war with China or the Brexit.
Answer:
The formula is not used if consumer demand and ordering and holding costs are not constant.
Explanation:
E.O.Q formula measures the ideal quantity of order a company should purchase in order to minimize its inventory costs, such as holding costs and shortage costs. The formula, however has its limitations, in a way that it assumes that the costumer demand is constant and ordering and holding costs remain constant. This makes formula hard to use in case of seasonal changes of demand, inventory costs or lost sales revenue due to inventory shortages.
Answer:
B. The lessor does not have the right to stop delivery in transit due to the lessee's breach of the lease agreement; instead, the lessor must deliver the goods to the lessee in spite of the breach, and then sue the lessee for damages.
Explanation:
During the transit of goods, if the lessor learns of a breach of the lease agreement, he has every right to stop the delivery of the goods in transit by notifying the goods carrier or bailee. Since the carrier of the goods reports directly to the lessor, once he receives instructions from the lessor to stop delivery of goods, and he still has sufficient time, the delivery should be stopped.
Once the goods are reclaimed, the lessor can then decide to sue to recover damages. He can also, decide to cancel the contract at that point
