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stellarik [79]
3 years ago
14

White Company owns 60% of Cody Company. Separate tax returns are required. For 2017, White's operating income (excluding taxes a

nd any income from Cody) was $300,000 while Cody reported a pretax income of $125,000. During the period, Cody declared total dividends of $25,000; $15,000 (60%) to White and $10,000 to the noncontrolling interest. White declared dividends of $180,000. The income tax rate for both companies is 30%.Compute Cody's undistributed earnings for 2018.A. $62,500.B. $125,000.C. $87,500.D. $100,000.E. $70,000.
Business
1 answer:
Sauron [17]3 years ago
3 0

Answer:

Option (A) is correct.

Explanation:

Cody's undistributed earnings for 2018:

Given that,

Pretax Income = $125,000

Income tax rate for both companies = 30%

Cody declared total dividends = $25,000

Tax = Pretax income × Tax rate

      = $125,000 × 30%

      = $37,500

Undistributed Earnings = Pretax Income - Tax - Dividends distributed

                                        = $125,000 - $37,500 - $25,000

                                        = $62,500

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Which program provides lump-sum compensation and health benefits for eligible Department of Energy nuclear weapons workers injur
pickupchik [31]

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Explanation:

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The EECICP is for federal employees in the Department of Energy as well as agencies related to them. This also includes contractors and subcontractors. Under this program, eligible workers who got injured are entitled to a lump-sum compensation as well as health benefits. If the worker dies as a result of the injuries however, a lump-sum might go to their survivors instead.

8 0
2 years ago
What does going green mean?
Romashka-Z-Leto [24]

Answer:

To save the Earth without polluting it. Going eco-friendly

Explanation:

At least that's what I think.

8 0
3 years ago
Identify the internal control weakness in the following situations. State how the person can hurt the company.
Degger [83]

Answer:

Identification of the Internal Control Weaknesses:

A.  There is no segregation of duties and there is lack of access control.  Jerry Miller as a security guard is not expected to have a master key to the cash box.  With this he can pilfer the cash.  If he prepares the report that shows the number of cars that parked on the lot, he is not supposed to also prepare the day's cash receipts.  Otherwise, he can state any number of cars as parked that he likes, and which corresponds to the cash he might leave in the Cash box since he also has a master key.

B.  There is no segregation of duties and there is lack of supervision,  proper reconciliations, and assets audit.  Sharon Fisher handles purchase transactions from the beginning to the close all alone with a third party.  This exposes the company to procurement frauds and collusion with suppliers.  She can purchase assets for the company at prices that would enrich her personally.

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4 0
3 years ago
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vivado [14]

Answer:

False.

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6 0
3 years ago
Tendonitis is a condition that would most directly involved which two systems
Bess [88]

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4 0
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