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Lera25 [3.4K]
3 years ago
11

Samuel is the managing general partner of STU, in which he owns a 25% interest. For the year, STU reported ordinary income of $4

00,000 (after deducting all guaranteed payments). In addition, the LLC reported interest income of $12,000. Samuel received a guaranteed payment of $120,000 for services he performed for STU. How much income from self-employment did Samuel earn from STU
Business
1 answer:
Norma-Jean [14]3 years ago
7 0

Answer:

$220,000

Explanation:

Calculation to determine How much income from self-employment did Samuel earn from STU

Using this formula

Income from self-employment =Guaranteed payment received+(Interest rate*Ordinary income)

Let plug in the formula

Income from self-employment=$120,000+(25%*$400,000)

Income from self-employment=$120,000+$100,000

Income from self-employment=$220,000

Therefore the amount of income from self-employment that Samuel earn from STU is $220,000

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Elina [12.6K]
False is the answer
3 0
3 years ago
25
Anna35 [415]

Answer:

<u>Foreign trade</u>

Explanation:

Often times a major determiner of the value of countries currency is the amount of their exports.

Thomas therefore as a financial advisor <em>should advise the government to build more on production of locally available materials that are highly demanded internationally for exports, by so doing he could improve the country's currency</em>.

5 0
3 years ago
Read 2 more answers
Waterway Industries is planning to sell 800 buckets and produce 1080 buckets during March. Each bucket requires 200 grams of pla
Scrat [10]

Answer:

See below

Explanation:

From the above,

One bucket requires;

200 grams of plastic and one half of direct labor

The plastic costs $10 per 200 grams and the employees are paid $15 per hour.

Therefore, one bucket costs (material and labor) :

= $10 + $15 × (1/2)hour = $17.5 per plus 1.10 × $7.50 = $25.75

For 1,080 buckets

$25.75 × 1,080 = $27,810

Therefore, the total amount of budgeted direct material for March is $27,810

5 0
2 years ago
Concord Corporation owned 16000 shares of Ivanhoe Corporation. These shares were purchased in 2017 for $130000. On November 15,
mafiozo [28]

Answer:

  • Gain = $271,310
  • Net reduction in retained earnings = $‭105,690‬

Explanation:

Gain = (Ivanhoe market price - Purchase price) * Number of shares issued as property dividend

Purchase price = 130,000 / 16,000

= $8.13

Number of shares issued as property dividend = 130,000 shares of Concord / 10

= 13,000 Ivanhoe shares

Gain = (29 - 8.13) * 13,000

= $‭271,310‬

Net reduction in retained earnings:

= Dividends payable - Gain

= (13,000 * 29) - ‭271,310‬

= $‭105,690‬

4 0
2 years ago
You are a dual income, no kids family. You and your spouse have the following debts (total): mortgage, $350,000; auto loan, $18,
Stells [14]

Answer:

$202,200

Explanation:

DINK (double-income no kids): It suggest to add half all the marriage debt to the funeral expenses:

To the funeral expenses you will add half of the debts:

350,000 / 2 =  175,000 for mortgage

  18,600 / 2 =     9, 300 for atomobile loan

   5,200 / 2 =     2,600 for credit card debt

   9,800 / 2 =     4, 900 other debt

funeral exp   <u>   10, 400   </u>

<em>insurance:      202,200</em>

8 0
3 years ago
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