Answer:
$3.4
Explanation:
The computation of the after-tax amount that received from dividend is shown below:
The Dividend is $4 per share
And, the tax on dividend is 15%
So, after tax amount after receiving the dividend is
= dividend - dividend × tax on dividend
= $4 - $4 × 15%
= $4 - $0.6
= $3.4
It is to be paid by the corporation it is not the liability of an investor
Answer:
They are problems caused by failures in systems, procedures, and policies.
<h2><em>Tha</em><em>nks</em><em> for</em><em> </em><em>points</em><em>.</em><em>✌️</em><em>✌️</em><em>✌️</em></h2>
Answer:
B: $1,500 is recognized this year, $ 9,000 next year and $ 7,500 in last year of contract.
Explanation:
Steven has adopted the accrual method in recording its revenue.
Accrual is an accounting concept which means expenses and revenues are recorded by a business when they are incurred not when cash is received or paid.
Accrual basis of accounting gives more accurate and true results as compare to cash basis accounting.
The payment received in September of $ 18,000 was the income for 24 months so it was wrong to record the whole amount as an income in September.
In the first year 2 months of income is recorded for November and December ($ 18,000÷24 = $750 per month) $750 × 2 = $1500.
In the second year 12 months revenue will be recognized ($750 per month × 12 = $ 9,000)
In the last year 10 month remained out of 24 months so the income recognized was ( $750 × 10 = $ 7,500)