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Vesna [10]
3 years ago
10

Which type of company enjoys the benefit of passing along deductions and credits of the company on to partners to file on their

individual tax returns? The credits and deductions of this type of business entity are divided by the percentage of individual interest each partner has in the company.
Business
1 answer:
Oksi-84 [34.3K]3 years ago
3 0

Answer:

The correct answer is Limited Liability Partnerships.

Explanation:

A Limited Liability Company is a type of mercantile company, in which the liability is limited to the capital contributed, and therefore, in the event that debts are incurred, it does not respond with the personal assets of the partners, but to the one contributed in said Limited company. It presents as a capitalist-type society in which capital, which will be divided into social interests, will be integrated by the contributions of all partners, who will not respond personally to social debts.

Social ACTIONS are not equivalent to the actions of corporations, as there are legal obstacles to their transmission. In addition, they do not have a "value" character and cannot be represented by means of securities or account entries, and their transmission by means of the public document that will be registered in the partner register book is mandatory. It will be constituted in a public deed and subsequently in the registration of the commercial register, at which time it acquires legal personality.

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Assume that Firm ABC has revenues of $120,000 for both 2017 and 2018. It also has operating expenses of $40,000 for each of thes
ivolga24 [154]

Answer:

1) deferred tax asset = 4000

2) deffered tax Liability  = 4000

Explanation:

1) Journalizing entry at 12/31/2017

deferred tax asset = tax ( per income tax) - tax ( per book tax )

                              = 32000 - 28000 = 4000

 J<u>ournal Entry made for Income tax and deferred tax asset) </u>

       Account                           Debit Credit

Income Tax Expense                28000  

Deffered Tax Asset                4000  

Income Tax Payable                                     32000

2) Journalizing entry at 12/31/2018

Deffered tax Liability = Tax (per book)  - Tax ( Income tax  )

deffered tax Liability = 32000 - 28000  = 4000

    <u>Journal Entry made for Income tax and deffered tax liability</u>

          Account                        Debit Credit

Income Tax Expense              32000  

To Deffered Tax Liability                    4000

To Income Tax Payable                                    28000

3 0
3 years ago
The R&amp;D department at Parabola Inc. is developing innovative methods to develop products that would reduce resource wastage.
mihalych1998 [28]

Answer:

b) Lateral Thinking

Explanation:

Lateral thinking is the approach where creative and innovative ways are thought out. In this approach, problem solvers deliberately distance themselves from generic and classic approaches and thus try to come up with brand new ideas and not follow typical thinking patterns.

All the other options can be used to find solutions but they may not necessarily take this innovative approach.  

Hope that helps.

6 0
3 years ago
Cemptex Corporation prepares its statement of cash flows using the indirect method to report operating activities. Net income fo
Lady bird [3.3K]

Answer:

711,300

Explanation:

Net cash generated from operating activities can be calculated by deducting and adding back the cash and non-cash items respectively from the net income for the year. Such as depreciation will be added back in net income due to it is a non-cash expense

Net Income                                                                       624,000

Depreciation and amortization                                         87,000

Decrease in accounts receivable                                     22,000

Increase in inventories                                                       (9,200)

Increase prepaid expenses                                                (8,500)

Increase in salaries payable                                              10,000

Decrease in income taxes payable                                   (14,000 )

Net cash generated from operating activities                 711,300

7 0
3 years ago
Expected cash dividends are $4.00, the dividend yield is 8%, flotation costs are 6% of price, and the growth rate is 5%. Compute
Brut [27]

Explanation:

\text { Dividend, } \mathrm{D}= 4 \\\text { Dividend yield rate }=\mathrm{D} / \text { Current price }=8 % \\\text { Current price }, \mathrm{P} 0=\mathrm{D} / 8 \%=\$ 4 / 8 \%=$ 50

\text { Flotation cost, } \mathrm{F}=8 \% \text { of current price }=\$ 50 * 8 \%=\$ 4 \\&#10;\text { Growth rate,g }=4 % \\&#10;\text { Cost of new common stock, } \mathrm{Ke}=[\mathrm{D} 1 /(\mathrm{P} 0-\mathrm{F})]+\mathrm{g} \\  =[\$ 4 /(\$ 50-\$ 4)]+4 \% \\&#10;=0.086956522+0.04 \\&#10;=0.126956522=12.7 \% \text {(Rounded) }

12.7%

6 0
3 years ago
Consider the circular flow model to answer the questions that follow.
Zarrin [17]

Answer:

The answer is :

A. Resource market - income

B. Expenditure - product market.

Explanation:

A. Resource market - income

B. Expenditure - product market

The circular flow model shows how money moves through the economy in exchange for goods, services, and resources.

A.

In circular flow of income, households provide inputs to firms through the resource market(matket where households supply land, labor, capital, and entrepreneurship) in exchange for money(income or wages).

B.

Also in circular flow of income, firms receives expenditure from household and this type of market is called product market(which refers to a place where goods and services are bought and sold)

6 0
3 years ago
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