Answer:
Dr. Cash $4,200
Cr. Interest Income $84
Cr. Note Receivable $4,116
Explanation:
Food Suppliers
Interest on the Note = $4,200 x 8% x 90 / 360 = $84
Amount to be recorded = $4,200 - $84 = $4,116
At the Time of Issuance the Journal Entry was
Dr. Note receivable $4,116
Cr. Sales $4,116
So, the Payment of $4,200 will be made.
The Interest Income will be $84
Now the Note Receivable account will be adjusted by receiving cash and recording interest income.
Answer:
c
Explanation:
here are their assumptions
- All expectations on expected cash flows are homogenous
- bonds and shares are traded in perfect markets - there are no transaction costs. two investments with identical cash flows, terms and risk must trade at the same price
- investors can borrow and lend at the risk free rate
- there are no agency cost
- investing and financing decisions are independent of each other
Answer:
Built-in gains tax is $13,020
.
Explanation:
The built-in gains tax is one levied against an S corporation that used to be a C corporation, or received assets from a C corporation.
Here,
Gain= $80,000
Loss= $10,000
Holds= $8,000
Income= $65,000
Corporate tax= 21%
To calculate the built-in gains tax, we will need to calculate the net gain of the corporation and multiply it by the tax rate.
= Built-in-gain - built-in-loss - unexpired NOL
80,000 - 10,000 - 8,000 = 62,000
Then
62,000 x 0.21 tax rate = 13,020
= 13,020
Answer and Explanation:
The journal entry to record issuance of the stock in exchange for the land and building is given below:
Land $237,000
Building $368,000
To Common stock, $8 par value $168,000
To Paid-in capital in excess of par value, common stock $437,000
(Being the issuance of the stock in exchange for the land and building is recorded)
In 2011, women working full-time and year-round earned 82
percent of what their male counterparts earned.
The data can be found in the book Women in the Labor Force:
A Databook. <span>This report presents historical and recent
labor force and earnings data for women and men from the Current Population
Survey (CPS), a national monthly survey of approximately 60,000 households conducted
by the U.S. Census Bureau for the U.S. Bureau of Labor Statistics.</span>
