Answer:
(A) $10,000
Explanation:
The beginning of the partnership basis for tax purposes consists of all the money paid to the partnership which is $10, 000. The comission fee $1,000, the up-front costs which are $500 for legal expenditures, and $500 for organization costs are all included in the $10000 price and are integral part of the beginning basis. There are no up front deductions for these costs.
Adjustments to the beginning basis will occur after the partnership's first year of operations. At that point, a K-1 is issued, showing that partner's share of partnership income and loss; and any cash distributions made by the partnership or additional cash contributions made to the partnership. All of these items are netted against the beginning basis to arrive at the year-end adjusted basis. So the customer's beginning tax basis is $10,000.
Answer:
Yes, he paid the correct amount
Total Expected Payment = 103.85 + 8.57 = $112.42
Explanation:
Matthew bought 4 new compact discs at $16.99 each and a carrying case for $35.89. He paid 8 1/4% sales tax on his purchases. If Matthew paid $112.42 total, determine if he paid the correct amount.
Total Purchase cost is ($16.99 x 4) + $35.89 = $103.85
8.25% of $103.85 = $8.57
Total Expected Payment = 103.85 + 8.57 = $112.42
A withholding you might see on your pay stub can include a retirement
savings or a health insurance payment. Therefore, the answer would be C
because the correct answers are both A and B. It is common for many to
have a 401K or 403-B in which your employer will withhold some of your
paycheck to deposit into your retirement accounts.
Most loan officers need a bachelor’s degree and receive on-the-job training. Mortgage loan officers must be licensed. Loan officers typically need a bachelor’s degree, usually in a field such as business or finance. Because commercial loan officers analyze the finances of businesses applying for credit, they need to understand general business accounting, including how to read financial statements.
Some loan officers may be able to enter the occupation without a bachelor’s degree if they have related work experience, such as experience in sales, customer service, or banking.
Answer:
$ 850.000
Explanation:
If we define the stockholders' equity as the sum of shares value plus Retained Earnings we then have a total amount of Stockholders equity at the end of August 2015 of $850.000.
Please see details bellow:
$750.000 Beginning Stockholders' Equity
$175.000 Earned Net Income
-$75.000 Dividends Paid
$850.000 Stockholders' Equity at the end of August 2015.