Leonardo da Vinci took out a simple interest loan at 12.75% interest for 12 months. His previous balance is $942.36. What is his final payment if the loan is paid off with the next payment?
Karas Corporation's taxable income for the current year
solution
we know here that Karas Corporation qualifies report that dividends received deduction = 50 % of dividends from the taxable unaffiliated domestic corporation
so we here assumed that if paying corporation is unaffiliated
then receiving corporation owns less than = 20 %
so book net income before federal income tax = $400,000
and Dividends received deduction = 0.50 × $100,000 = $50,000
Taxable income will be = book net income before federal income tax - Dividends received deduction .................1
The number of shares of stock issued in the stock dividend is 5,312.20 shares.
Explanation:
This can be determined as follows:
Number of shares before stock dividend = Number of shares reported on January 1, 2019 - Number of shares purchased for its treasury on March 24, 2019 + Number of treasury shares were sold on August 19, 2019 = 268,000 - 3,000 + 610 = 265,610
Number of dividend shares = Number of shares before stock dividend * Rate of stock dividend issued = 265,610 * 2% = 5,312.20
Therefore, the number of shares of stock issued in the stock dividend is 5,312.20 shares.
