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Mrs. Jansen is the sole shareholder of mimeo corporation. She also owns the office building that serves as corporate headquarter

Umnica [9.8K]

The net impact of the given audit conclusion on mimeo's income tax liability is $10,500 increase.

<h3>What does tax liability mean?</h3>

The amount owed to the Internal Revenue Service (IRS) at the end of each tax year is referred to as "tax liability." A person, business, or other entity's tax liability is the total amount of taxes that they owe to the government.

Tax liabilities include things like income taxes, sales taxes, and capital gains taxes. Federal, state, and local governments are just a few of the taxing entities that impose taxes. What you owe in taxes to the IRS or your state government is known as your tax liability. Depending on your income and filing status, you may have to pay income taxes.

Given:

Taxable income increases by $50,000,

increasing tax liability is

= ($50,000 × 21%) = $10,500

To learn more about tax liability, visit:

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8 0

2 years ago

Global Exporters recently announced that it will pay annual dividends of $1.10; $1.25, and $1.30 a share over the next three yea

Paraphin [41]

Answer:

$14.42

Explanation:

Please kindly check attachment for the step by step solution of the given problem.

3 0

3 years ago

Read 2 more answers

A company’s dividend is expected to grow at 20% for the next six years. After that, the growth is expected to be 3% forever. If

Fittoniya [83]

Answer:

Price of share at end of year 6 = $43.94

Explanation:

Provided information we have,

Current dividend = $1

Growth rate for 6 years = 20%

Dividend at end of year 6 = $1 $\times$ Future value factor of $1 @ 20% for 6 years = $1 $\times$ 2.985984 = $2.986 rounded off

After this dividend is supposed to grow at 3% thus Dividend at end of year 7 = $2.986 + 3% = $3.076

Therefore, using dividend growth model we have,

$P_6 = \frac{D_7}{Ke - g}$

Where P6 = price at end of period 6 = to be calculated

D7 = Dividend paid at end of year 7 = $3.076

Ke = Required rate of return = 10%

g = constant growth rate = 3%

Thus, $P_6 = \frac{3.076}{0.10-0.03}$

P6 = $43.94

Thus, price of share at end of year 6 = $43.94

4 0

3 years ago

Dmitri lives in Detroit and runs a business that sells guitars. In an average year, he receives $701,000 from selling guitars. O

Black_prince [1.1K]

Answer:

EXPLICIT COST

The wholesale cost for the guitars that Dmitri pays the manufacturer

The wages and utility bills that Dmitri pays

IMPLICIT COST

The rental income Dmitri could receive if he chose to rent out his showroom

The salary Dmitri could earn if he worked as a financial advisor

Explanation:

Explicit cost: those which are actually incurred this means it represent accrued expenses or actual cash outlay.

Implicit cost: refers to the opportunity cost of a factor wasted opprtunity for weing deploy in the current project. These do not represent actual expenses but potential use of the factors

5 0

4 years ago

In the Bank Location problem, four of the twenty counties were on adjacent to Pennsylvania. (Counties 1, 14, 15, 16.) If the ban

Harlamova29_29 [7]

Answer:

b. x1 + x14 + x15 + x16 >= 1

Explanation:

Conditional constraint is a constraint involving binary variables that does not allow certain variables to equal one unless certain other variables are equal to one.

7 0

3 years ago