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Nataly [62]
2 years ago
8

Catherine is a U.S. citizen who is employed by DSC, Inc., a global company. Beginning on August 1, 2020, Catherine began working

in Augsburg, Germany. She worked for 153 days of 2020. She worked there until March 31, 2021, when she transferred to Kamnik, Slovenia. She worked in Kamnik for the remainder of 2021. Her salary for the first seven months of 2020 was $225,000, and it was earned in the United States. Her salary for the remainder of 2020 was $165,000, and it was earned in Augsburg. Catherine's 2021 salary from DSC was $425,000, with part being earned in Augsburg and part being earned in Kamnik.
Assume the 2021 indexed statutory amount is the same as the 2020 indexed amount. Assume a 365-day year for both years. When required, round any fractions out to four decimal places.

a. Is Catherine eligible for the foreign income exclusion for 2020?
b. Catherine may exclude ___________ from her gross income for 2020.
Business
1 answer:
marin [14]2 years ago
5 0

Answer:

a. Is Catherine eligible for the foreign income exclusion for 2020?

Yes

b. Catherine may exclude <u>$45,104</u> from her gross income for 2020.

Explanation:

In order for Catherine to qualify for the foreign income exclusion, she must have lived in a foreign country for at least 1 one (physical presence test). She lived for more than 1 year if we combine her residence in Germany and Slovenia.  

The foreign income exclusion amount for 2020 is $107,600, and Catherine can exclude up to (153 days / 365 days) x $107,600 = $45,103.56 ≈ $45,104.

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The balance sheet of Flo's Restaurant showed total assets of $320,000, liabilities of $88,000 and stockholders’ equity of $282,0
SashulF [63]

Answer:

The answer is $148,000

Explanation:

Goodwill comes into effect or arises when a company acquires another company. Goodwill is an intangible asset. It is difference between the purchase price of a company and the net asset(total assets minus total liability)

Purchase price is $425,000

Fair value of the asset is $365,000

Total liability is  $88,000.

Net asset =  $365,000 - $88,000

=$277,000

Therefore, goodwill is $425,000 - $277,000

= $148,000

3 0
3 years ago
The Oklahoma City Zoo has proposed adding to their Web site a major segment providing a virtual tour of the grounds and animals,
motikmotik

Answer:

The Oklahoma City Zoo

A. What is the B/C ratio?

The B/C ratio is the benefit/cost ratio.

B. What is the B-C?

The benefits = $63,000 (90,000 x $0.70)  in the first year

Additional visits = 27,500 x 9 = 247,500

Additional benefits = $173,250 (247,500 x $0.70)

Total benefits = $236,250

The costs =

Initial cost = $305,000

Upkeep, etc = $800,000 ($80,000 x 10 years)

Less salvage value = $63,000

Interest cost = $213,500 (7% of $305,000 x 10 years)

Total costs = $1,255,500

B/C ratio = $236,250/1,255,500 x 100 = 19% approx.

Explanation:

The B/C or Benefit/Cost Ratio is a financial measure that compares the benefits of a project with the costs associated with the project.  It attempts to show how the benefits will outweigh the costs.

The benefits that will accrue from the project when compared to the costs will be 19%.  This implies that less benefit will be derived from the project.

7 0
3 years ago
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2 years ago
You are considering purchasing stock in Canyon Echo. You feel the company will increase its dividend at 4.6 percent indefinitely
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price per share of the company's stock is $53.28

Explanation:

Under dividend growth model a stock is overvalued or undervalued assuming that the firm’s expected dividends grow at a value g forever, which is subtracted from the required rate of return or k.

Therefore, the stable dividend growth model formula calculates the fair value of the stock as P =D1 / ( k – g ).

P= price per share

D1 = current dividend

k = required return

g = growth rate

P= $3.41 ÷ (11 %  - 4.6% ) =( 3.41 ÷ 0.064 )=  $53.28

P= $3.41 ÷ (0.11  - 0.046 ) =( 3.41 ÷ 0.064 )=  $53.28

6 0
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2 pts Paul and Michael sell magazine subscriptions by telephone. Paul is paid $1.00 for every 5 calls he makes, while Michael is
WITCHER [35]

Answer:

D. Fixed-ratio; variable-ratio

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Fixed ratio (FR) schedule, a specific or “fixed” number of behaviors must occur before you provide reinforcement.

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