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3 years ago

In the case avery v. midland county, the u.s. supreme court held that

1 answer:

6 0

The population helped by the United States Supreme Court during the case of Avery v. Midland county. It was said in the case that " local government districts had to be roughly equal in population." Furthermore, it implemented the "one person, one vote" policy in each country included.

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Kevin and Bob have owned and operated SOA as a C corporation for a number of years. When they formed the entity, Kevin and Bob e

S_A_V [24]

Answer:

Assets FMV Adjusted Basis Built-in Gain

Cash $200,000 $200,000 $0

Inventory $80,000 $40,000 $40,000

Land and Bldg $220,000 $170,000 $50,000

total $500,000

A) Since SOA is making a liquidating distribution, it will be taxed as if they sold their assets at fair market value:

distribution of the inventory results in a $40,000 ordinary gain = $40,000 x 30% = $12,000 in taxes
distribution of the land and building results in a $50,000 Sec. §1231 gain = $50,000 x 30% = $15,000 in taxes

total recognized gain = $90,000 (= $40,000 + $50,000)

B) After taxes are paid, SOA's total assets = $500,000 - $27,000 = $473,000 which must be divided equally between Kevin and Bob. Each owner should receive $236,500.

So Kevin's gain = $236,500 - $100,000 = $136,500

8 0

3 years ago

Refer to the data below to answer the following questions:

IgorLugansk [536]

Answer:

What share of U.S. total income in 2013 consisted of Wages and salaries?

The share = Wages and salaries /Total income * 100

The share = $8,868 / $16,800 * 100

The share = 0.5278571 * 100

The share = 52.79%

What share of U.S. total income in 2013 consisted of Corporate profits?

The share = Corporate profits /Total income * 100

The share = $1,686/$16,800 * 100

The share = 0.100357 * 100

The share = 10.03%

4 0

3 years ago

Today you earn a salary of $28,500. What will be your annual salary fifteen years from

lys-0071 [83]

Answer:

$47.747.44

Explanation:

After 14 years, the salary will be equivalent to the future value of $28,500 at 3.5% compound interest.

The formula for calculating compound interest is as follows.

FV = PV × (1+r)n

where FV = Future Value

PV = Present Value... 28,500

r = annual interest rate.... 3.5%

n = number of periods...15

Fv = $28,500 x ( 1+ 3.5/100)15

Fv = $28,500 x ( 1+0.035)15

Fv =$28,500 x 1. 67534883

Fv =$47.747.44

3 0

3 years ago

1. A new furnace for your small factory will cost $27,000 to install and will require ongoing maintenance expenditures of $1,500

Marina CMI [18]

Answer:

payback 3.29 years

NPV 87,158.55

Explanation:

PO 27,000

Cash flow saving Y1

2400 x 3.5 = 8,400

expenditures (1,500)

net savings 6,900

Cash flow saving Y2

The price will increase 0.5

6,900 + 2,400 x 0.5 = 8,100

Cash flow saving Y3 to Y20

The price will increase 0.5

8,100 + 2,400 x 0.5 = 9,300

We have an annuity of 18 years for 9,300 cash

And then we have a cash flow of 6,900

and another of 8,100

$C \times \frac{1-(1+r)^{-time} }{rate} = PV\\$

C = 9,300

r = 8%

time = 18

$9,300 \times \frac{1-(1+0.08)^{-18} }{0.08} = PV\\$

PV = 87,158.55

Now this values are years into the future, so we need to bring them to present day.

$\frac{Principal}{(1 + rate)^{time} } = PV$

year 1 principal 6,900

6,900/1.08 = 6,388.89

year 2 principal 8,100

$\frac{8,100}{(1 + 0.08)^{2} } = PV$

PV= 5,915.64

year 3 annuity 87,158.55

$\frac{87,158.55}{(1 + 0.08)^{3} } = PV$

PV= 69,189.27

cash flow - investment = net present value

69,189.27 + 5,915.64 + 6,388.89 - 27,000 = 54,493.8

The payback will be the time perdion when the project recovers it initial cost:

we first add the income from the irregular years and subtract from the investment

6,900 + 8,100 = 15,000

27,000 - 15,000 = 12,000

then we use the general formula investment/cash flow per year

12,000/9,300 = 1.29

the project need the first two years and then 1.29 years

2 + 1.29 = 3.29 years

6 0

4 years ago

Which of the following statements is true of absorption costing? A. It considers variable selling and administrative costs as p

Sonja [21]

Answer:

C. It considers fixed manufacturing overhead cost as product costs.

Explanation:

The statement that is true of absorption costing is that it considers fixed manufacturing overhead cost as product costs.

Absorption costing uses the concept of cost drivers to ascertain the quantum of fixed manufacturing overhead cost a product generates, and ties that fraction to the product as its own cost.

By so doing, what would ordinarily have been periodic costs that will be apportioned among products become fixed costs that are directly traceable to those products.

6 0

3 years ago