Answer:Share premium account of $24,000
The provider of attorney services of $30,000
Explanation:
On provision of services, the Attorney services expenses account is debited with $54,000 and the attorney services provider account credited with $54,000
Furthermore a share account is opened for the provider and credited with $30,000 , the share premium is credited $24,000 and a debit transfer is made to his liability account initially credited.
The $24,000 credit to share premium represents the difference between the nominal value of the share of $5 and the market value of $9 multiply by the 30,000 shares he was paid with.
Also a memorandum will be issued to state that 6000 share has been transferred from Miller to the attorney services provider and the shares will be delited from his name and entered in the name of the services provider because the credit of shares to his account does not represents new shares issued but it's the transfer of Miller's shares to him.
Answer:
Strategic
Explanation:
If Ming is a manager for a large company and has the authority to determine whether or not the company should expand into new regions and/or expand the company's product line, Then the level of management that Ming represents is Strategic Management
Strategic management involves setting objectives, <u>analyzing the competitive environment</u>, analyzing the internal organization, evaluating strategies, and ensuring that management rolls out the strategies across the organization.
Business expansion decisions are taken by the highest level of management based on their analysis of the competitive environment
Answer:
Consider the following calculations
Explanation:
Net income per books $65,000
Add back:
Federal income taxes 9,700
Excess contributions 3,000
Life insurance premiums 10,000
$87,700
Subtract:
Tax-exempt interest (1,500)
Excess depreciation (4,500)
Taxable income $81,700
Dividend received deduction = 160000 x 80% = 128000 (full DRD doesn't create loss).
DRD will be 80% of taxable inome because percent partnership is 25% which is between 20 to 80%.
