The total amount of taxes that the company will pay will be calculated as under -
Total taxes paid = (Taxes on income) + (Taxes on dividends)
Total taxes paid = ($ 9.50 X 39%) + ($ 4 X 10%)
Total taxes paid = $ 3.705 + $ 0.4 = $ 4.105 or $ 4.11
Answer:
Income Statement Dec. 31, 20Y6
<u> Glacier Travel Service </u>
Total revenue $900,000
- Wages expense ($425,000)
- Rent expense ($180,000)
- Utilities expense ($75,000)
- Supplies expense ($38,000
)
<u>- Miscellaneous expense ($37,000)
</u>
EBIT $145,000
<u>- Taxes ($30,000)</u>
Net profit $115,000
In the second half of 2019, automobile sales in the United States were lower than they were in the second half of 2018. The decrease in auto sales impacts GDP because new automobiles are counted as <u>consumption </u>when purchased by households and <u>investment</u> when purchased by businesses.
Gross domestic product (GDP) is the overall monetary or market value of all of the goods and services produced within a country's borders in a particular time period.
GDP can be calculated by adding up all of the money spent by consumers, businesses, and the government in a given period. It may also be calculated by adding up all of the money received by all the participants in the economy.
learn more about Gross domestic product (GDP) here
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Answer:
The amount of interest revenue that should be recorded for year 1 is $20.
Explanation:
- A note otherwise known as promissory note is an unconditional written promise by a borrower to a lender (payee) to pay a certain agreed sum at a specific date.
- The interest revenue on notes receivable is calculated by Principal x Interest rate x Time period
- In the case of ABC, Inc., the interest revenue to be recorded for year 1 (November 1 - December 31) is calculated as follows: $1,500 x 8%/12 = $10 monthly. For the 2 months, it is $10 x 2 months = $20.
Answer:
The answer is letter A.
Explanation:
No, because the relevant cost of the new machine is $10,000 more than the cost of the old machine.
