Answer:
Net operating income= 565,000
Explanation:
Giving the following information:
Krazy Kayaks sells its entry-level kayaks for $750 each. Its variable cost is $500 per kayak. Fixed costs are $25,000 per month for volumes up to 1,100 kayaks. Above 1,100 kayaks, monthly fixed costs are $60,000.
Sales= 2,500*750= 1,875,000
COGS= (500*2,500)= (1,250,000)
Gross profit= 625,000
Fixed costs= (60,000)
Net operating income= 565,000
Solution :
In the context, the relevant tax issues are :
1. The transfer to be subjected to tax deferred treatment under 351. It is a tax issue for transaction.
2. Kathleen receives stock in the exchange of the property transferred.
3. Receipt of the stock that is a gift from her mother is a relevant tax issue.
4. If Kathleen is not the transferor of the property and Kathleen receives the stock from the corporation, the transaction will be qualify as non taxable under 351.
5. Stocks received by Kathleen and Nancy is a taxable and so it is relevant to the tax issue.
6. The property in the hands of a corporation is always a tax issue.
7. The deductions that is allowed when the transfer of the stock for the rendering services for Kathleen.
8. The transfer of the stock is considered as gift to Kathleen by Nancy is a taxable transaction, so it is a relevant tax issue.
The accounting method that correctly reflects financial statement results is <u>Accrual accounting.</u>
<h3>What is accrual accounting?</h3><h3 />
This is a type of accounting that takes into account the various transactions that the business goes through even those that are not cash-based.
This will therefore accurately reflect the results of the financial statement because business get involved in non-cash transactions as well as cash transactions.
Find out more on accrual-based accounting at brainly.com/question/25817056.
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Answer with Explanation:
The questions are related to "premiums" and "co-pays."
Insurance "premiums" are payments to the policy. This can be paid on a <em>monthly, semi-annual or annual basis.</em> So, this means it doesn't only cover monthly payments. This also means that a person who is availing of this will be charged according to the insurance policy.
"Co-pay" is a fixed payment for treatment. This means that the amount of money a person will pay is<em> "specified"</em> and is often given during the<u> time of service</u>. So, this is not only a payment to the doctor because<em> it can be charged once a patient visits a doctor or buys a prescription drug.</em>
So, this explains the answers.
Sally, a lender with a banking, has received a loan application from a prospective buyer hoping to purchase a four-bedroom house. sally would verify the information she has received.
To assess applicants' creditworthiness and ability to repay a mortgage loan, mortgage bankers are required to confirm or verify applicants' work status, salary, credit history, and other financial information. Bankers make sure that applicants complete all necessary loan forms, and they respond to any queries that applicants may have regarding the mortgage procedure.
When you apply for a mortgage to buy real estate, you must submit a loan application to the lender. The data in a loan application is what lenders use to determine whether or not to approve the loan.
To learn more verifying loan application here
brainly.com/question/26913200
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