Answer:
The correct option is B.
Explanation:
It is given that Garnett Co. expects to purchase $180,000 of materials in July and $210,000 of materials in August.
Purchase in July = $180,000
Purchase in August = $210,000
Three-fourths of all purchases are paid for in the month of purchase, and the other one-fourth are paid for in the month following the month of purchase.
In August, the cash disbursements for materials purchases be 3/4th of $210,000 (Purchase in August) and 1/4 of $180,000 (Purchase in July).
August's cash disbursements for materials purchases be
The August's cash disbursements for materials purchases be $202500. Therefore the correct option is B.
Answer:
C. Subject to 30% withholding tax under the Branch Interest Withholding tax rules.
Explanation:
Options are <em>"A. No interest withholding as the interest is deemed paid by the foreign corporation, since the U.S. branch is not a U.S. corporation. B. No interest withholding tax since the recipient of the interest is a foreign corporation. C. Subject to 30% withholding tax under the Branch Interest Withholding tax rules. D. Subject to 15% withholding tax under the Branch Profits tax rules. Reset Selection"</em>
The interest payment will be subject to 30% withholding tax under the Branch Interest Withholding tax rules. Interest paid by a branch's U.S. trade or business, is considered U.S. source income and is subject to U.S. withholding tax at a rate of 30%, unless the tax is reduced or eliminated by a specific treaty or Code provision.
$3500 sum will spk record for interest expense in their december 31, 2022
Interest = $ 6000 for 12 months.
From June to December there will be 7 months due,
therefore 7/12x6000 = $ 3500
An interest expense is the fetched brought about by an substance for borrowed reserves. Intrigued cost may be a non-operating cost appeared on the salary explanation. It speaks to intrigued payable on any borrowings—bonds, credits, convertible obligation or lines of credit. It is basically calculated as the intrigued rate times the exceptional foremost sum of the obligation. Interest expense on the income statement represents interest accrued during the period covered by the financial statements, and not the amount of interest paid over that period. While interest expense is tax-deductible for companies, in an individual's case, it depends on their jurisdiction and also on the loan's purpose.
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