I think it is C.Money a company shares with stockholders.
Answer:
A
Explanation:
In today's marketing the use of material such as video, sound, webinars among others is essential, especially with the rise of the internet and advertising channels such as webpages and blogs.
Answer:
$12,000
Explanation:
The main difference between cash basis accounting and accrual accounting is that accrual accounting recognizes revenue only after the earning process is completed. On the other hand, cash basis accounting recognizes revenue and expenses when the money is received or paid, regardless of when the service is provided. This is why the US GAAP doesn't allow cash basis accounting.
The IRS allows cash basis accounting for individuals and small businesses that only deal with cash payments, but they must meet certain criteria:
- partnerships or C corporations with less than $5 million in yearly revenue
- sole proprietorships and S corporations with less than $1 million in yearly revenues
- family owned farms
- you provide personal services and 95% of your revenue comes from it
- no publicly traded corporation is allowed
Because they may have extra work to do, or possibly over time, or even just to dedicated to their work for other things.
Answer:
Comer's tax liability for 2018 = $33300
Explanation:
Before determining Comer's tax liability for 2018, we need to understand what gross income is and what forms part of gross income. Gross income is total amount of income from various sources minus/plus and additions and deductions. Income from salary is earned in the ordinary course of work/business which is definitely part of gross income. Capital gain is refers to gain/profit/income from sale of capital assets such as property, shares, stocks, piece of land. Any gains and losses form part of gross income and capital losses are reported as deductions meant to reduce investors tax liability just as capital gains should be taxed.
Lets first calculate gross income and then apply tax rate to determine tax liability.
Gross income = salary + Short-term & long-term capital gains - short-term & long-term capital losses
GI = $64000 + $31000 + $9000+$15000 -$2000 -$6000
GI = $111000
Assuming the tax rate is 30%, the tax liability for the year is as follows:
Tax liability = $111000×30%
Tax liability = $33300
