Answer:
$12,000
Explanation:
Calculation for how much more tax will Logan pay currently if MG is a C corporation compared to the tax he would pay if it were an S corporation
First step is to calculate the amount he will pay for the taxes if Military Gear Inc. is a C corporation
Tax amount=($75,000 × 24%)
Tax amount=$18,000
Second step is to calculate the amount he will pay for the taxes if Military Gear Inc. is a S corporation
Tax amount=($75,000 -$50,000)*24%
Tax amount=$25,000*24%
Tax amount=$6,000
Now let calculate how much more tax will Logan pay currently
Tax amount=$18,000-$6,000
Tax amount=$12,000
Therefore how much more tax will Logan pay currently if MG is a C corporation compared to the tax he would pay if it were an S corporation will be $12,000
Answer: a) $18,605
Explanation:
The amount he can borrow today will be an amount that when grown at a rate of 7.5% per year will equal $20,000 in a year.
20,000 = Amount + ( Amount * rate * time)
20,000 = Amount + (7.5% * Amount)
2,000,000 = 1.075 * Amount
Amount = $18,605
Answer : all of the above
I think this is the answer.
Answer:
$200,600
Explanation:
The total amount which is paid back with the accrued interest is shown below:
= Note payable + Accrued interest
where,
Note payable is $200,000
And, the accrued interest equals to
= Principal × rate of interest × number of months ÷ (total number of months in a year)
= $200,000 × 6% × (6 months ÷ 12 months)
= $600
The 6 months is calculated from November 1,2012 to May 1, 2013
Now put these values to the above formula
So, the value would equal to
= $200,000 + $600
= $200,600