An individual stockholder is entitled to receive any dividends declared on stock owned, provided the stock is held on the ex-dividend date. This is the date that is scheduled by the stock exchange. It is the date where you are entitled as the owner of a stock.
Answer and Explanation:
Adjusted gross income abbreviated AGI is the tax payers gross income minus deductions used in arriving at taxable income(AGI less allowable deductions)
Please find attached calculations for gross income and AGI for the couple
Answer:
Yes, because the corporation remains liable to the owner under the contract
Explanation:
The above answer is true because in this case, there is no limit to the assignment of the contractual rights between the two parties, hence this assignment of a contract would be treated as both an assignment of rights and a delegation of duties.
Therefore, while the corporation in this case has delegated its duties and assigned its rights under the contract to the developer by assigning the contract to the developer, the corporation is still considered to be liable to the owner for payment of the purchase price.
And given the fact that the developer is not as creditworthy as the corporation, and thus there is a greater chance that the developer will be unable to pay the purchase price, the owner has the rights under the contract arrangement to contractually compel the corporation to do so.
Answer: $615,810
Explanation:
The Book Value of the Asset at the end of 4 years will be;
= Cost of equipment - Accumulated Depreciation
= 3,250,000 - ( 3,250,000 * ( 20% + 32% + 19.20% + 11.52%))
= 3,250,000 - 2,688,400
= $561,600
The Equipment will be sold at $645,000 meaning a gain is made
= 645,000 - 561,600
= $83,400
Tax to be paid is;
= 83,400 * 0.35
= $29,190
After-tax salvage value of the equipment = Sales Price - Tax
= 645,000 - 29,190
= $615,810
