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iVinArrow [24]
3 years ago
8

PLEASE ANSWER FAST

Business
1 answer:
jarptica [38.1K]3 years ago
3 0

Answer:

the answer is B

your welcome :)

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During the current year, Walter invests $35,000 in each of two separate corporations. Each investment gives him a 20% ownership
Bond [772]

Answer:

B) Only statement II is correct.

  • II. Has $20,000 of taxable income from Corporation Z.

Explanation:

One of the disadvantages of a C Corporation is that their owners (stockholders) are double taxed. That means that the corporation is taxed and then the stockholders are taxed depending on the dividends that they receive. In this case, Walter has $10,000 of taxable income from Corporation X (= $50,000 x 20%).

On the other hand, sole proprietorships, partnerships, limited liability companies and S Corporations are not taxed, they are pass through entities whose owners are taxed directly. In this case, Walter owns 20% of Corporation Z, therefore he must pay taxes on 20% of taxable income = $100,000 x 20% = $20,000.

8 0
3 years ago
A resume gives a potential employer important information about your qualifications and accomplishments.
katrin [286]
A. True. A resume gives a potential employer important information about your qualifications and accomplishments. 
5 0
3 years ago
Kendra and Amelia operate an art gallery, owned as a partnership. Kendra disappeared. A few days later, Amelia learned that Kend
Jobisdone [24]

Answer:

Yes, Amelia responsible for the $75,000

Explanation:

It is given that Kendra and Amelia are jointly operating the art gallery, they are working together as a partnership. If a person does any work in the partnership business, other has full responsibility for partnership.

In the given question Kendra Has embezzled a $75,000 government grant, which will be responsible for partnership business but in the absence of Kendra, Amelia will also be responsible for all this.

6 0
4 years ago
A company had an unadjusted Cost of Goods Sold of $1,690,000. The company closes its underapplied or overapplied overhead to Cos
lakkis [162]

Answer:

"$1,673,750" is the appropriate answer.

Explanation:

The given values in the question are:

Applied overhead,

= $666,250

Actual overhead,

= $650,000

Unadjusted cost,

= $1,690,000

Now,

The overapplied overhead will be:

= Applied \ overhead-Actual \ overhead

= 666,250-650,000

= 16,250 ($)

hence,

The goods sold's adjusted cost will be:

= Unadjusted \ cost-Overapplied \ overhead

= 1,690,000-16,250

= 1,673,750 ($)

8 0
3 years ago
Assume your university earns an average rate of return of 5.65 percent on its endowment funds. If a new gift permanently increas
Dennis_Churaev [7]

Answer:

The amount of the gift is 566,371.6814

Explanation:

Average rate of return = Average net profit / average investment

Average rate of return = 5.65% (5.65/100 = 0.0565)

average net profit = 32000

average investment =  unknown

to calculate the amount of the gift which is investment in this case the same formula for Average rate of return will be used i.e

Average rate of return = Average net profit / average investment

0.0565 = 32, 000/ x

cross multiply

0.0565 x = 32,000

divide both sides by 0.0565

x = 32,000/0.0565

32,000/ 0.0565 = x  

x = 566,371.6814

The amount of the gift  is 566,371.6814

6 0
3 years ago
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