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hoa [83]
3 years ago
14

On January 1, The Long Island Crystal Company (LICC) issued 500,000 shares at $27.15 per share. (Issued means they are actually

purchased, not simply offered for purchase.) Within the same tax year ABLE, an officer of the company who received 10,000 shares of restricted stock in compensation for past services at the initial public offering, sells 5000 shares to BAKER act $30.50. If LICC, as a corporation, is in the 35 percent tax bracket, what is the cumulative increase in the LICC company tax due as a result of the ABLE-BAKER transactions
Business
1 answer:
zhenek [66]3 years ago
4 0

Answer:

$0.00

Explanation:

LICC company issued the share and gave them to the officer, ABLE. During the same year, the condition on the stock is met to sell them, and ABLE exercises this option. LICC custody of the stock ends when the condition is met and ABLE can sell the shares.

These stocks belong to ABLE and selling these shares will impact their income tax, not the company. ABLE is a different tax-subject than LICC. Thus, LICC income taxes do not absorb the gain on sale in this transaction.

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Do you think your career goals will be the same 5 years from now? 10 years from now? Why or why not?
Ede4ka [16]

Answer:

It maybe differ from your age, if you are in middle school now then maybe it may change later. But if you are already a graduate student then the main subject u r focusing in may be your career

3 0
3 years ago
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When a government fines and/or imprisons persons convicted of using illegal drugs, the government is attempting to decrease the
enot [183]

When a government punishes and/or imprisons those who are found guilty of using illicit drugs, it is trying to stop the illegal drug trade by moving the demand curve for illegal substances to the left.

The government wants people to abstain from using illegal narcotics, thus in order to stop individuals from doing so, it is punishing those who do. And for this reason, individuals won't use those illegal drugs or won't buy them as much, which will naturally move to the "demand curve" to the left.

The demand curve is a graphical depiction of the connection between the cost of a commodity or service and the amount demanded over a specific time period. A common representation will have the price on the left-hand vertical axis and the amount needed on the right-hand horizontal axis.

Learn more about demand curve here

brainly.com/question/13131242

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4 0
1 year ago
In one hour, the United States can produce 25 tons of steel or 250 automobiles. In one hour, Japan can produce 30 tons of steel
Whitepunk [10]

Answer:

For USA

Opportunity cost of 1 ton of steel = 250 / 25 = 10 automobiles

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For Japan

Opportunity cost of 1 ton of steel = 275 / 30 = 9.17 automobiles

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Japan will produce steel and US will produce automobile

option D is correct answer

Explanation:

3 0
4 years ago
What is the purpose of professional communication?
weqwewe [10]

Answer:

By mastering professional communication, the potential for misunderstandings occurring can be minimised. When you work in a team, you need to be able to regularly communicate with others. You need to listen to other people's ideas, whilst being able to clearly and effectively communicate your own.

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The five purposes for communication are to inform, imagine, influence, meet social expectations and express feelings.

6 0
3 years ago
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On January 1, 2018,Gillock Climbing Academy instituted a defined benefit pension plan for its employees. The annual service cost
Ivan

Answer:

Find the answer below in explanation

Explanation:

Gillock Climbing Academy Pension Expense for the year 2019 will be recorded as

Service cost ............................................. 600,000.00

Interest (600000 × 10%)................................60,000.00

plan assets (40000 from 2018 + 32000 interest + 400000 made in current year)............... 832000

Expected return Interest on plan asset (832000*8%) ........................................ 66,560.00

Pension Expense for the year ended December 31, 2019 = 600000 -  (66,560.00 - 60000)

= 600,000−6,560

= $593,440.00

3 0
3 years ago
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