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mamaluj [8]
3 years ago
15

The Dot Corporation has changed its year-end from a calendar year-end to August 31. The income for its short period from January

1 to August 31 is $54,000. The tax for this short period is________________.
Business
1 answer:
Scilla [17]3 years ago
3 0

Answer:

$10,527

Step by step Explanation:

Ist January to 31 August is 8 months

Therefore;

$54,000 x 12/8 = 81,000

15% x 50,000 = 7,500

25% x 25,000 = 6,250

34% x 6,000 = 2,040

7,500 + 6,250 + 2,040 = 15,790

Short period = 15,790 x 8/12 = $10,526.673.

Therefore The tax for this short period is $10,526.673 approximately $10,527

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Cherries on Top, a national ice cream shop, is struggling financially to keep up with the bigger chains. The top executives have
zzz [600]

Answer:

utilitarian approach.

Explanation:

Cherries on Top is a national ice cream shop and is struggling financially to keep up with the bigger chains. The top executives have decided to close all the stores in the Northeast and Texas, as that will give them an additional one million dollars to put into marketing. This executive is practicing the utilitarian approach.

Utilitarianism can be defined as an ethical moral theory that offers anyone a relatively direct method for enhancing choices and making decisions about the right course of action for any particular situation.

Basically, the utilitarian approach analyzes and measure an action in terms of its outcome or consequences; by determining the net benefits and costs to all stakeholders of an organization individually.

The main purpose or focus of the utilitarian approach is to achieve the best possible outcome or results for the overall success of the business while creating the least amount of harm, loss, damage or suffering.

<em>Hence, the executive of Cherries on Top is practicing the utilitarian approach. </em>

8 0
3 years ago
Given that news organizations frequently call for more transparency from the government and organizations they cover, critics fi
charle [14.2K]

Answer:

Revenues

Explanation:

The role of news organisations in political campaigns in recent times has been very significant.

Critics find it hypocritical because when paid to run political campaigns, news organisations do not reject lies by public officials, because they were paid for the air time.

For example, according to information from statistica, it estimates that more than 6 billion dollars were spent in the US Presidential elections campaign on broadcast TV in 2016.

Scrutiny would involve critical examination of the activities of this news organisations.

7 0
3 years ago
Minors are liable for the reasonable value of the necessary:______.
kotegsom [21]

Answer:

b. that they agreed to purchase.

Explanation:

A minor is a person who is under the age of 18 and unable to make decision on his own such as mentally impaired or incompetent persons .

A minor cannot enter a contract like adults but if under any circumstance they enter into a contract of sale purchase of daily goods like clothing etc, they are liable to pay the price which they agreed to pay.

Their parents are liable only if the contract was made according to the parent's will etc.

If the minor is unable to pay the agreed amount then the minor should return the goods or fulfill any other liability as imposed by the court of law.

8 0
2 years ago
On March 12, a company provides services on account to an individual Hospital for $9,100, terms 2/10, n/30. An individual does n
shutvik [7]

To record the transactions with the individual hospital company, the following journal entries are made:

<h3>Journal Entries:</h3>

March 12: Debit Accounts Receivable $9,100

Credit Services Revenue $9,100

  • To record the sale of services on terms 2/10, n/30.

March 31: Debit Cash $9,100

Credit Accounts Receivable $9,100

  • To record the receipt of cash in full settlement.

<h3>Transaction Analysis:</h3>

March 12: Accounts Receivable $9,100 Sales Revenue $9,100

Terms 2/10, n/30

March 31: Cash $9,100 Accounts Receivable $9,100

Thus, the journal entries for the customer do not require the recognition of the 2% sales discount since the customer could not pay within the discount window.

Learn more about recording transactions at brainly.com/question/17201601

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3 0
2 years ago
Recording revenue before it is collected is an example of: Multiple Choice A prepaid expense transaction. A deferred revenue tra
PilotLPTM [1.2K]

Answer:

An Accrued Receivable transaction

Explanation:

Before the receipt of cash recording a revenue is the example of accrued receivable because product is sold or services are already been performed on which basis transaction is occurred and recorded. So, the receivable is recorded against the revenue entry.

The journal Entry for this transaction will be as follow

DR. Account receivable  xxx

CR.  Revenue                   xxx

6 0
3 years ago
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