Answer and Explanation:
The journal entry is shown below:
Truck A/c Dr $4,500
To Cash A/c $4,500
(Being the truck is replaced for cash)
Here the truck is debited as it increased the assets and credited the cash as it decreased the assets
Answer:
a. What is Riverbend’s deductible DRD assuming it owns 10 percent of Hobble Corporation?
- $250,000 x 70% = $175,000
b. Assuming the facts in part (a), what is Riverbend’s effective tax rate on the dividend?
- $15,750 / $250,000 = 6.3%
current corporate tax rate = 21%, ($250,000 - $175,000) x 21% = $15,750
c. What is Riverbend’s DRD assuming it owns 51 percent of Hobble Corporation?
- $250,000 x 80% = $200,000
d. Assuming the facts in part (c), what is Riverbend’s marginal tax rate on the dividend?
e. What is Riverbend’s DRD assuming it owns 87 percent of Hobble Corporation (and is part of the same affiliated group)?
f. Assuming the facts in part (e), what is Riverbend’s marginal tax rate on the dividend?
Explanation:
the dividends received deduction:
- less than 20% stake, 70% deduction
- stake between 20-80%, 80% deduction
- more than 80% stake, 100% deduction
Institutionalized discrimination refers to the discrimination that is typically coded into the operating procedures, policies, or objectives of such institutions.
Explanation:
The Institutionalized discrimination exists in institutions from the government such as religion, education and marriage.
The racial wealth gap between blacks and whites, assets and education are the issues. There are four types of discrimination they are direct discrimination, indirect discrimination, Labour discrimination and Employment discrimination.
The discrimination is used in schools and indirect discrimination in harassment and victimisation. The wage gap is the difference between the payment of men and women working.