The claims of creditors against the assets are

Which of the following is considered to be an internal administrative cost that companies may incur when ethical wrongdoing is d

Nana76 [90]

Answer:

b

Explanation:

b

8 0

3 years ago

The winner of the first annual Tom Morris Golf Invitational won $115 in the competition which was held in 1901. In 2015, the win

pickupchik [31]

Answer:

$31,920,341.91

Explanation:

The computation is shown below:

For computing the receiving amount in 2052 first we have to determine the rate which is shown below:

Current value = Initial value × (1 + interest rate)^time period

$1,480,000 = $115 × (1 + interest rate)^114

So, after solving this, the interest rate is 8.654%

Now the received amount in 2052 is

= $1,480,000 × (1 + 0.8654%)^37

= $31,920,341.91

The time period is come from

= 2015 - 1901

= 114

And, the 37 years is come from

= 2052 - 2015

= 37

5 0

3 years ago

Kinney, Inc., an electing S corporation, holds $5,000 of AEP and $9,000 in AAA at the beginning of the calendar tax year. Kinney

Murrr4er [49]

Answer:

(C) $1,500 dividend income.

Explanation:

The total AAA available is $15000($10000+$5000(taxable income)).

The total distribution $18000(($6000×2)+($3000×2))

Here since available AAA is $15000 each get deduction of $7500($15000×500shares/1000shares).Hence $1500(i.e $6000+$3000-$7500) is taxable.

7 0

3 years ago

Select the best closing paragraph of a bad-news letter. a. Once again, we want to express how sorry we are that we are not able

Alina [70]

Answer:b

Explanation:

3 0

3 years ago

On November 1, 2017, Austin Services issued $304,000 of five-year bonds with a stated rate of 11%. The bonds were issued at

Stells [14]

Answer:

The amount of interest expense was recorded for the period of January 1 to April 30, 2018 would be $11,147

Explanation:

According to the given data we have the following:

Bonds Amount=$304,000

Stated rate of interest=11%

To calculate the amount of interest expense was recorded for the period of January 1 to April 30, 2018 we have to calculate the following formula as follows:

Interest expense for period(Jan-April)=Semi Annual Interest-Interest expense payable on Dec31

Semi Annual Interest=$304,000*11%*6/12= $16,720

Interest expense payable on Dec31=$304,000*11%*2/12=$5,573

Therefore Interest expense for period(Jan-April)=$16,720-$5,573=$11,147

The Journal Entry would be as follows:

Debit $ Credit $

30-Apr Interest expense Account Dr. $11,147

Interest expense Payable Account Dr. $5,573

Cash Account $16,720

3 0

3 years ago