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denis23 [38]
3 years ago
14

Sharon Corporation redeems 20 shares of Kevin's common stock. Kevin directly owned 50 shares prior to the redemption. Kevin is a

lso a 50% partner in AMI Partnership which also holds 50 shares of Sharon. How many shares is Kevin treated as owning prior to the redemption
Business
1 answer:
alexdok [17]3 years ago
4 0

Answer:

75 shares

Explanation:

In this specific scenario, it seems that Kevin is treated to 75 shares prior to the redemption. This is calculated by adding the 50 shares that Kevin holds directly prior to the redemption itself as well as the 25 extra shares that are held by AMI. These 25 shares are 50% of the total 50 shares that AMI holds since Kevin is a 50% partner.

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Smith Company reported pretax book income of $400,000. Included in the computation were favorable temporary differences of $50,0
Hoochie [10]

Answer:

$10,200

Explanation:

The computation of the deferred income tax expense or benefit is shown below:

Favorable temporary difference = $50,000

Less:  Unfavorable temporary difference -$20,000

Net favorable temporary difference $30,000

We assume the tax rate is of 34%

So, the deferred tax expense is

= $30,000 × 34%

= $10,200

By finding out the net favorable temporary difference and then multiplied with the tax rate we can get the deferred tax expense and the same is shown above

3 0
3 years ago
All the payroll information needed to prepare payroll and tax reports is found on
Kruka [31]

Answer:

c

Explanation:

7 0
3 years ago
Câu hỏi em gửi trong hình ạ. Mong mn giúp đỡ
GaryK [48]
I Dont know hehehehe
6 0
2 years ago
2. Prepare a direct materials purchases budget for chemicals for the months of January and February. Do not include a multiplica
Tpy6a [65]

Answer:

Purchases Budget for January   238,590   units  

Purchases Budget for February   233,131 units

Dollar Purchases Budget for January    $ 477,180

Dollar Purchases Budget for February    $ 466,264

Explanation:

<u><em> Patrick Inc.</em></u>

<u><em>Direct Materials Purchases Budget - </em></u>

                                            January           February

Production in units             43,800              41,000

<u>Gallons per unit                  5.5                         5.5 </u>

<u>Gallons for production    240,900             225,500 </u>

Desired ending inventory 33,825                 41,456

<u>Needed                            274,725              266,956 </u>

Less: Beginning inventory 36,135                 33,825

Purchases                         238,590               233,131

Price per gallon                   $ 2.00                  $ 2.00

<u>Dollar purchases               $ 477,180            $ 466,264</u>

<u></u>

Direct Materials Purchases budget is calculated by calculating the gallons per unit which is added to desired ending inventory and beginning inventory is deducted. The purchases units are multiplied with price per unit.

4 0
3 years ago
Whats the difference between stock and stockholder?
Charra [1.4K]

To delve into the underlying meaning of the terms, "stockholder" technically means the holder of stock, which can be construed as inventory, rather than shares. Conversely, "shareholder" means the holder of a share, which can only mean an equity share in a business. Thus, if you want to be picky, "shareholder" may be the more technically accurate term, since it only refers to company ownership.

8 0
3 years ago
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