Answer:
E) $45,375
Explanation:
This is because Authorized shares are the total shares that the company can issue.
There is a difference between issued and outstanding shares of 500 shares, this may be because these shares are currently held by the company itself and thus dividends are payable only on outstanding shares
This gives us 27,500 * 1.65 = $43,375
Answer:
may be recorded before cash is collected.
Explanation:
Sales revenue "may be recorded before cash is collected."
This is according to Accrual accounting, which unlike the cash model that requires payments to be made before sales revenue is recorded.
In the Accrual accounting model, sales revenue recording is not based on cash collection before it is recorded. Here, the revenue is recorded in as much the transferred goods are made and collection of payment is determined or expected.
Answer:
$5528000
Explanation:
Solution
Given that:
Now,
The 2018 estate tax exemption 11180000$ above that the estate inherited are taxed at 40%.
So,
25000000-11180000 = taxable estate 13820000$
The estate tax due= 13820000*40%
= 5528000$
Note: This is reference from Exhibit 25-1 and Exhibit 25-2.
Answer:
The amount used in the buyer's accounting records to record this acquisition is $60,000.
Explanation:
Amount in the buyer's accounting records to record this acquisition = Cash paid + Note payable
= $20,000 + $40,000
= $60,000
Therefore, The amount used in the buyer's accounting records to record this acquisition is $60,000.
Answer: 76.3%
Explanation: Gross profit margin is calculated by dividing the gross profit (difference between revenue and cost of goods sold) by revenue (Net sales). It could be expressed as a percentage by multiplying by 100.
Gross profit margin = (gross profit ÷ net sales) * 100
Gross profit = $3,320
Net sales = $4,350
Gross profit margin = ($3,320÷$4,350) * 100
0.763 * 100 = 76.3%
