Answer:
$14,800
Explanation:
The computation of the selling price of the truck is shown below:
The depreciation expense is
= ($60,000 - $12,000) ÷ 6 years
= $8,000
Now the depreciation for 5.5 years is
= $8,000 × 5.5 years
= $44,000
Now book value is
= $60,000 - $44,000
= $16,000
ANd, finally the selling price of the truck is
= $16,000 - $1,200
= $14,800
Answer:
$4.41
Explanation:
S corporation earns $9.00 per share before tax is paid
Corporate tax rate is 39%
= 39/100
= 0.39
Personal tax rate on dividend is 15%
= 15/100
= 0.15
The rate on non-dividend income is 36%
The company pays $6.00 for dividend
Therefore, the total amount of taxes paid can be calculated as follows
Corporate tax= $9.00×0.39
= $3.51
Personal tax= $6.00×0.15
= $0.90
Total amount of tax paid= corporate tax+Personal tax
= $3.51+$0.90
= $4.41
Hence the total amount of taxes paid is $4.41
Answer:
a. promptly notify ABC of the intent to cure.
Explanation:
After making a mistake, the first thing you need to do is to communicate with the buyers and try to make amends. You can explain the reason for the mistake and hope that the buyer will be understanding enough to allow you to fix the mistake. This might minimize your lost because of this mistake.
Keep in mind that at this point, the buyer have the full right to cancel the order and abandon his part of the contract.
If the buyer decided to do that, Big Board Games need to accept that decision professionally and prevent similar mistakes from occurring in the future.
Answer: Steel; A mutual fund; the number of shares of stock sold in a previous day; Capital gains
Explanation:
1. Which example is an investment commodity?
Steel is an example of an investment commodity. A commodity is a raw material that one can purchase and later sell. Of all the examples given, steel is the right answer.
2. Which option allows you to pool your money and invest in a portfolio with other investors?
A mutual fund is a kind of investment whereby the money gotten from the investors is used to invest in bonds, stocks, bonds or any other investment. Mutual fund allows one to pool one's money and invest in a portfolio with other investors.
3. Which piece of information is typically included in a stock listing?
During stock listing, the number of shares of stock sold in a previous day are included.
4. Which type of investment income happens when an investor sells ownership in an equity investment that's gained value?
Capital gain is the profit that is made by a company when a capital asset, such as bond, stock or real estate is sold and the amount that the asset is sold is more than the purchase price.
The investment income that happens when an investor sells ownership in an equity investment that's gained value is capital gains.