For the past five years, Logan has reported little to no taxable income because he paid Graham a salary of $500,000 a year.
Multiply that result by the number of shares held for each individual shareholder. Complete Appendix K, the form companies must submit to list the amount of income attributable to each shareholder for the tax year.
The gross S Corporation income (or loss) reported in Appendix E is included in the income from rentals, royalties, partnerships, S Corporations, trusts, etc. section of an individual's Form 1040.
S corporation tax rate refers to the federal, state, and local personal income taxes an S corporation must pay. S Corporation owners must pay state and local income taxes ranging from 0% to 13.3% and a maximum federal income tax of 39.6%.
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Answer:
C. Debit Work in Process—Dept. B; credit Finished Goods—Dept. A
Explanation:
It is known that during continuous production, businesses find it difficult to isolate each individual unit and calculate a cost. Process costing systems accumulate the materials, labor and overhead costs for the period along with the total number of units produced. The total number of units produced includes both completed units and partially completed units. The company determines the percentage of completion for each partially completed unit and adds these amounts to the total number of completed units to determine the equivalent units.
As a result of the Great Leap Forward, industrial production declined and power shifted to conservative Communist leaders. The answers would be the second and third option. The Great Leap forward also resulted in widespread famine. This led to decrease production, starvation and even c<span>hallenges to Mao Zedong's position. Hope this answer helps.</span>
Answer:
$4,350
Explanation:
Calculation to determine your net profit or loss on this investment
Net profit = (-$0.60 - $42.70 + $52) × 100 × 5
Net profit= $4,350
Therefore your net profit or loss on this investment is $4,350
Answer:
Memorial Hospital
From the information on how much the hospital is losing on deliveries, the change in profit for each extra delivery is:
= 16.3%.
Explanation:
a) Data and Calculations:
Average cost of deliveries = $5,000
Average revenue per delivery = $4,300 ($5,000 - $700)
Loss on each delivery = $700
The change in profit for each extra delivery is
= 16.3% ($700/$4,300 * 100)
b) The implication of the above information is that the hospital is losing 16.3% each time it performs a delivery because it cost it $5,000 while it can only receive $4,300 from each patient delivered.
