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3 years ago

Does being a lawyer include BUSINESS MANAGEMENT + ADMINISTRATION

Business

2 answers:

pickupchik [31]3 years ago

8 0

Of course it does! being a lawyer takes a lot of management, business, and Administration skills.

Ratling [72]3 years ago

4 0

Yes I believe it does

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Sunset Corporation (a C corporation) had operating income of $200,000 and operating expenses of $175,000. In addition, Sunset ha

sleet_krkn [62]

Answer:

Sunset Corporation's taxable income is $3,000

Explanation:

Calculation of Sunset Corporation's taxable income is as worked below

Taxable Income = Operating Income - Operating Expenses + Capital Gains - Capital Losses

Taxable Income = $200,000 - $175,000 + $30,000 - $52,000

Taxable Income = $3,000. Hence, Sunset Corporation's taxable income is $3,000

Note that taxable income is the amount of income used to calculate how much tax an individual or a company owes or is going to pay the government in a particular tax year.

4 0

4 years ago

How can we apply accounting and bookkeeping in our daily lives?

Westkost [7]

Draw up a monthly budget. A monthly budget can do wonders for managing your month-to-month living expenses

5 0

3 years ago

______ is currently the most popular network standard for lans.

natka813 [3]

Ethernet is currently the most popular network standard for LANs. LAN stands for Local Area Network . Ethernet is the most widely used technology to interconnect computers in a computer network within a limited are (building, university, school,...)
Ethernet is a link layer protocol in the TCP/IP stack. It describes how networked devices can format data for transmission to other network devices on the same network segment, and how to put that data out on the network connection.

6 0

4 years ago

A University is offering a charitable gift program. A former student who is now 50 years old is consider the following offer: Th

xenn [34]

Answer:

The value of this deferred annuity today on his 50th birthday is $2,621.27.

Explanation:

Since the student's desired return of 6% will also start to be paid starting on his 65th birthday, the value of this deferred annuity today on his 50th birthday can be calculated by first calculating the value of the investment on the 65th birthday.

We therefore proceed with the following two steps:

Step 1: Calculation of the value of the investment on the 65th birthday

The value of the investment on the 65th birthday can be calculated using the formula for calculating the present value of an ordinary annuity as follows:

PV = P * ((1 - (1 / (1 + r))^n) / r) …………………………………. (1)

Where;

PV at 65 = Present value of the annuity at 65th birthday =?

P = Annuity payment = Invested amount * Student's desired return = $8,900 * 6% = $534

r = Student's desired return rate = 6%, or 0.06

n = number of more years anticipate to live after 65th birthday = 21

Substitute the values into equation (1) to have:

PV at 65 = $534 * ((1 - (1 / (1 + 0.06))^21) / 0.06)

PV at 65 = $534 * 11.764076621288

PV at 65 = $6,282.02

Therefore, the value of the investment on the 65th birthday is $6,282.02.

Step 2: Calculation of the value of this deferred annuity today on his 50th birthday

The value of this deferred annuity today on his 50th birthday can therefore be calculated using the simple present value for as follows:

PV at 50 = PV at 65 / (1 + r)^N …………………………….. (2)

Where;

PV at 50 = the value of this deferred annuity today on his 50th birthday = ?

PV at 65 = Present value of the annuity at 65th birthday = $6,282.02

r = Student's desired return rate = 6%, or 0.06

N = number of years from 50th birthday to 65th birthday = 65 - 50 = 15

Substitute the values into equation (2) to have:

PV at 50 = $6,282.02 / (1 + 0.06)^15

PV at 50 = $6,282.02 / 2.39655819309969

PV at 50 = $2,621.27

Therefore, the value of this deferred annuity today on his 50th birthday is $2,621.27.

5 0

3 years ago

Marigold Corp. is authorized to issue both preferred and common stock. The par value of the preferred is $50. During the first y

ohaa [14]

Answer:

Dr cash $ 2,473,500.00

Cr preferred stock $ 2,425,000.00

Cr paid-in capital in excess of par-preferred stock $48,500

Dr cash $ 3,422,000.00

Cr preferred stock $ 2,900,000

Cr paid-in capital in excess of par-preferred stock $522,000

Explanation:

The issue of preferred shares on Feb 1 would result in cash proceeds of $ $2,473,500.00 i.e (48,500*$51)

The proceeds would be debited to cash while preferred stock account is credited with par amount of $ 2,425,000.00 (48,500*$50) and the remaining amount of $ 48,500.00 is credited to paid-in capital in excess of par-preferred stock.

The issue of preferred shares on July 1 would result in cash proceeds of $3,422,000.00 i.e (58,000*$59)

The proceeds would be debited to cash while preferred stock account is credited with par amount of $ 2,900,000.00 (58000*$50) and the remaining amount of $ 522,000.00 is credited to paid-in capital in excess of par-preferred stock

3 0

3 years ago