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.
A. True. A resume gives a potential employer important information about your qualifications and accomplishments.
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.
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,
= $1,690,000
Now,
The overapplied overhead will be:
= 
= 
= 
($)
hence,
The goods sold's adjusted cost will be:
= 
= 
= 
($)
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
