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Verdich [7]
3 years ago
9

Alain Mire files a single tax return and has adjusted gross income of $314,000. His net investment income is $43,000. What is th

e additional tax that Alain will pay on his net investment income for the year
Business
1 answer:
ratelena [41]3 years ago
4 0

Answer:

$1,634

Explanation:

The computation of the additional tax to be paid is shown below:

Additional tax is

= Tax rate × net investment income

= 0.038  × $43,000

= $1,634

We simply multiplied the tax rate with the net investment income in order to determine the additional tax

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The guard prevents you from touching the blade.
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3 years ago
Cougar Plastics Company has been operating for three years. At December 31 of last year, the accounting records reflected the fo
Nikitich [7]

Answer:

a. Purchased short-term investments for $8,600 cash.

Dr short term investments 8,600

    Cr cash 8,600

b. Lent $6,300 to a supplier who signed a two-year note.

Dr notes receivable 6,300

    Cr cash 6,300

c. Purchased equipment that cost $24,000; paid $4,900 cash and signed a one-year note for the balance.

Dr equipment 24,000

    Cr cash 4,900

    Cr notes payable 19,100

d. Hired a new president at the end of the year.

no entry

e. The contract was for $86,000 per year plus options to purchase company stock at a set price based on company performance.

no entry

f. Issued an additional 2,300 shares of $0.50 par value common stock for $19,000 cash.

Dr cash 19,000

    Cr common stock 115

    Cr additional paid in capital 18,885

g. Borrowed $19,000 cash from a local bank, payable in three months.

Dr cash 19,000

    Cr notes payable 19,000

h. Purchased a patent (an intangible asset) for $1,100 cash.

Dr patent 1,100

    Cr cash 1,100

i. Built an addition to the factory for $29,000; paid $8,700 in cash and signed a three-year note for the balance.

Dr building 29,000

    Cr cash 8,700

    Cr notes payable 20,300

j. Returned defective equipment to the manufacturer, receiving a cash refund of $2,400.

Dr cash 2,400

    Cr equipment 2,400

<h2>Cougar Plastics Company</h2><h2>Balance Sheet</h2><h2>For the year ended December 31, 202x</h2><h2>Assets</h2>

<u>Current assets:</u>

Cash $33,800

Accounts receivable $4,600

Inventory $27,000

Investments (short-term) $10,700

Total current assets                               $76,100

<u>Long term investments:</u>

Notes receivable $9,000

Total long term investments                  $9,000

<u>Property, plant and equipment:</u>

Equipment $78,600

Factory building $120,000

Total P, P & E                                      $198,600

<u>Intangible assets:</u>

Intangibles $4,500

Patent $1,100

Total intangible assets                    <u>     $5,600</u>

Total assets                                                                             $289,300

<h2>Liabilities and stockholders' equity</h2>

<u>Current liabilities:</u>

Accounts payable $19,000

Accrued liabilities payable $3,100

Notes payable (short-term) $43,300

Total current liabilities                       $65,400

<u>Long term liabilities:</u>

Notes payable $61,300

Total long term liabilities                   $61,300

<u>Stockholders' equity:</u>

Common stock $10,815

Additional paid-in capital $115,185

Retained earnings $36,600

Total stockholders' equity              <u>$162,600</u>

Total liabilities + stockholder's equity                                     $289,300

7 0
3 years ago
_____________ is a deliverable-oriented grouping of the work involved in a project that defines its total scope.
Alex_Xolod [135]

Answer:

A work breakdown structure

3 0
2 years ago
When we physically encounter a three-dimensional form, the tactile sensation we experience is its ________. Two-dimensional imag
babymother [125]

Answer:

When we physically encounter a three-dimensional form, the tactile sensation we experience is its <u>ACTUAL TEXTURE</u>. Two-dimensional images, however, have <u>IMPLIED TEXTURE</u>, which means the artist creates an effect that reminds us of our tactile memory of a real-life surface. Artists who wish to contradict our previous tactile experiences employ <u>SUBVERSIVE TEXTURE</u> in order to make us reconsider our preconceptions about the world around us.

Explanation:

Actual texture is combination of how an artwork looks and how it actually feels when someone touches it. Even paintings have texture and different artists use different painting techniques to create that texture.

Implied or simulated texture means that the artist is creating a visual effect of texture.

When artists use subversive textures, they are inventing textures by adding alternate materials.

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3 years ago
Define the following terms: a. Cost of debt b. Cost of equity c. After-tax WACC d. Equity beta e. Asset beta f. Pure-play compar
gtnhenbr [62]

Answer: The answers are explained below.

Explanation:

• Cost of debt: The cost of debt is the interest rate that a company is charged on its debts. It is the interest paid on bonds, loans etc. The cost of debt is usually the before-tax cost of a debt.

• Cost of equity: The cost of equity is the return a firm pays to its equity investors e.g shareholders in order to reward them for the risk taken by investing their capital. Companies need capital to operate and grow hence, individuals and organizations who provide funds to such companies are rewarded.

• After tax WACC: The Weighted Average Cost of Capital (WACC) is a firm's combined cost of capital including preferred shares, common shares, and debt after the deduction of tax.

• Equity Beta: It measures the sensitivity of the stock price to changes in market. Equity Beta is also called levered beta.

• Asset beta: It is the beta of a firm without the effect of debt. It is a company's volatility of returns without its indebtedness.

• Pure play comparable: The pure play comparable is the taking of the beta estimate of another company that is comparable and in same line of business.

• Certainty equivalent: It is the guaranteed return that an individual would take now, rather than awaiting a higher but uncertain return later in the future.

3 0
3 years ago
Read 2 more answers
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