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mojhsa [17]
3 years ago
5

Integrated Devices, Inc., is a private, for-profit corporation that is owned by seven shareholders who are members of the same f

amily. Integrated is a. an S corporation. b. a close corporation. c. a public corporation and a private corporation. d. a benefit corporation.
Business
1 answer:
atroni [7]3 years ago
7 0

Answer:

b. a close corporation

Explanation:

A closed corporation refers to a company in which shares are held by select few individuals who usually are closely linked with business. Such form of a company is also referred to as family corporation.

In these form of corporations, the investments from outsiders are closed i.e from general public and thus referred to as a close corporation. Shareholding belong to owners or family members in most of the cases.

Such firms are not listed on stock exchanges and hence do not permit general public to subscribe to their shares. Wherein, any one of the shareholders desires to liquidate his share, the other members buy out such share.

In the given case, Integrated Devices Inc., a private, for profit company is wholly owned by members of the same family. Thus, it represents a close corporation.

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Myers Corporation has the following data related to direct materials costs for November: actual costs for 5,000 pounds of materi
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A. $1,020 unfavorable.

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2 years ago
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Which of the following statements is correct regarding compensation expense for employers in publicly traded corporations?
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Answer:

d. Deductible compensation expense must be considered reasonable under the facts and circumstances of the employment.

Explanation:

Elon Musks collected billions of dollars due to the excellent performance of Tesla's stocks. The compensation awarded to the CEO, CFO and maximum three other executives must be reasonable. Performance based compensation is not limited in an amount, instead they are limited on the number of people that receive them.

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3 years ago
Flyaway Travel Company reported net income for 2021 in the amount of $90,000. During 2021, Flyaway declared and paid $2,125 in c
Jlenok [28]

Answer:

$1.85

Explanation:

Fyaway travels reported a net income of $90,000 for the year 2021

During 2021 they declared and paid a cash dividend of $2,125

They also paid $10,000 as cash dividend in common stock

Flyway has 40,000 shares outstanding

Therefore the 2021 basic earning per share can be calculated as follows

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40,000 shares+(10,000 shares×9/12)

40,000 shares +(10,000×0.75)

40,000+7500

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4 0
3 years ago
Gary Marks is paid on a monthly basis. For the month of January of the current year, he earned a total of $8,338. FICA tax for S
deff fn [24]

Answer:

$1,057.86

Explanation:

Payroll taxes include:

  • Social security tax withholdings 6.2% (on the first $132,900 of wages paid) = 6.2% x $8,338 = $516.96
  • Medicare tax withholding 1.45% = 1.45% x $8,338 = $120.90
  • Federal unemployment taxes (FUTA)  0.6%  = $7,000 x 0.6% = $42
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total payroll taxes = $1,057.86

4 0
3 years ago
Jacques deposited $1,900 into an account that earns 4% interest compounded semiannually. After t years, Jacques has $3,875.79 in
kupik [55]
A year has two semesters, then
n = 2<span>v(t)=p<span><span>(<span>1+<span>r/2</span></span>)</span><span>2t
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3875.79 = 1900∗<span><span>(<span>1+(<span>0.04/2)</span></span>)^</span><span>2t
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2.0398895 = <span><span>(<span>1+<span>0.042</span></span>)^</span><span>2t
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<span>ln(2.0398895) = ln<span>[<span><span>(<span>1+<span>0.042</span></span>)^</span><span>2t</span></span>]

Then simplify,
</span></span><span>0.712896 = 2t∗ln(1.02)

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I hope my answer helped you. Have a nice day!</span></span>
3 0
3 years ago
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