Which amendment to the constitution legalized income tax?

A company has $4,500 in its Revenue account at the end of a period. The expenses are as follows: Rent, $750; Utilities, $150; Sa

Alik [6]

C $975 as you minus rent etc from the revenue

3 0

3 years ago

Read 2 more answers

ABC Corporation distributes property to its sole shareholder, Andre. The property has a fair market value of $350,000, an adjust

saul85 [17]

Answer:

ABC has a gain of $145,000 and Andre's dividend income is $130,000

Explanation:

Property ABC issued, has the following:

fair market value = $350,000

Adjusted basis = $205,000

Liability = $220,000

Calculate ABC's Corporation gain:

Gain = market value - Adjusted basis

= $350,000 - $205,000

= $145,000

ABC has a gain of $145,000

Calculate Andre's dividend income since he is the sole shareholder:

Dividend earnings = fair market value - liability

= $350,000 - $220,000

= $130,000

Andre's dividend income is $130,000

Correct option is D.

With respect to distribution, ABC has a gain of $145,000 and Andre's dividend income is $130,000

8 0

3 years ago

A customer sells 1 ABC Jul 90 Put at $5 when the market price of ABC is $89. The market falls to $82 and the customer is exercis

Talja [164]

Answer:

A $300

Explanation:

$90-$82= $8

$8-$5= $3

Therefore:

$3×100 shares =$300

The holder has bought the right to buy the stock at $90 per share because She bought this right for a premium of $5 per share. By exercising the call, the holder buys the stock at $90 and in which he /she sells the stock in the market at $82, for a 8 point loss. Since $5 points was paid in premiums, the net loss is 3 points or $300 on the contract covering 100 shares.

7 0

3 years ago

The crowding-out effect implies that restrictive fiscal policy will increase aggregate demand and employment. lead to a signific

vladimir1956 [14]

The crowding-out effect implies that restrictive fiscal policy will reduce real interest rates.

<u>Option: D</u>

<u>Explanation:</u>

The crowding out effect is the circumstances where greater interest rates consequences gives output of a decline in private investment expenditure so as to dampen the initial rise in overall investment expenditure. Authorities often embraces a restrictive fiscal-policy approach and raises spending to stimulate economic activity. This contributes to interest-rate rises. Higher interest rates have a impact on private investment choices. A high magnitude of the crowding-out impact can also result in lower economic revenue.

4 0

3 years ago

The most recent financial statements for Assouad, Inc., are shown here: Income Statement Balance Sheet Sales $3,900 Current asse

Ratling [72]

Answer:

$2,896 is needed

Explanation:

external financing needed = net income - working capital needs - capital expenditures + retained earnings

net income = $1,560 x 1.2 = $1,872
working capital needs = ($4,700 x 1.2) - ($860 x 1.2) = $5,640 - $1,032 = $4,608
capital expenditures = fixed assets x 20% = $940
retained earnings = $1,560 x 50% = $780

external financing needed = $1,872 - $4,608 - $940 + $780 = -$2,896

7 0

4 years ago