Answer: $28940
Explanation:
Their QBI deduction for the year goes thus:
Jason's QBI amount will be:
= $173000 × 20%
= $173000 × 0.2
= $34600
Paula's QBI amount will be:
= $28,300× 20%
= ($5660)
Therefore, their combined qualified business income will be:
= $34600 - $5660
= $28940
The overall limitation which is based on th modified taxable income will be:
= $247000 × 20%
= $49400
Since $28940 is lesser than $49400, their QBI deduction for the year is $28940
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Answer:
Below:
Explanation:
An extension strategy is a practice used to increase the market share for a given product or service and thus keep it in the maturity phase of the marketing product lifecycle rather than going into decline. Extension strategies include rebranding, price discounting and seeking new markets.
Hope it helps...
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Answer: b. Carlton's income statement will have to be revised to include the earnings per share data
Explanation:
The options to the question are:
a. No changes will have to be made to Carlton's income statement. The income statement is complete without the earnings per share data.
b. Carlton's income statement will have to be revised to include the earnings per share data.
c. Carlton's income statement will only have to be revised to include the earnings per share data if Carlton's market capitalization is greater than $5,000,000.
d. Carlton's income statement will only have to be revised to include the earnings per share data if Carlton's net income for the past two years was greater than $5,000,000.
From the question, we are informed that the senior accountant for Carlton Co., a public company with a complex capital structure, has just finished preparing Carlton's income statement for the current fiscal year and that while reviewing the income statement, Carlton's finance director noticed that the earnings per share data has been omitted.
The changes that will have to be made to Carlton's income statement as a result of the omission of the earnings per share data is that Carlton's income statement will have to be revised to include the earnings per share data.
Answer: Please see below
Explanation:
a. Journal to record the entry to establish the petty cash fund.
Account Particulars Debit Credit
Petty Cash $750
Cash $750
b. Journal to record the entry to replenish the petty cash fund.
Account Particulars Debit Credit
Office Supplies $248
Misc Selling Expense $212
Miscellaneous administrative expense, $96.
Cash Short and Over $18
Cash $574
To calculate Cash Short and Over= $750-(248+212+ 96)= 750 -556= $194
but the money in the pettycash fund On April 1 is $212.
therefore Cash short and over = $212-$194 = $18
