1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Marrrta [24]
2 years ago
13

Tone Loc and 89 of his biggest fans formed an S corporation, 2hit, Incorporated, as the original 90 shareholders. Tone then tran

sferred some of his stock to his grandfather, four of Tone's cousins, five of Tone's children, three of Tone's grandchildren, and two close friends. According to the S corporation shareholder limit rules, how many shareholders does 2hit, Incorporated, have
Business
1 answer:
Alja [10]2 years ago
5 0

Answer:

92 shareholders

Explanation:

According to the S corporation shareholder limit rules, family members count only as 1 shareholder. The meaning of family member is very broad, including spouses, uncles, aunts, children, grandparents, grandchildren, first cousins, and even ex-spouses count as members of the same family.

So that means that Tone Loc, his grandfather, his four cousins, his five children and three of his grandchildren, will all together count as just one shareholder.

His two friends are not included in his family.

You might be interested in
A customer has purchased 5,000 shares of ABC Corporation stock in lots of 100 shares over an extended period of time at varying
ozzi

Answer:

c. IRS rules allow the taxpayer to specify which shares being sold

Explanation:

As eahc method will make the capital gain or loss to differ the Internal Revenue Service leaves to the stockholder to decide the method

The default method is the FIFO method which states the first shares purchased are the first sale but, leaves choise to the stockhodler to use specific identification which, is what the statement correctly points out.

The method are not "required" but allowed as the stockholder see fit.

8 0
3 years ago
Marketing Docs prepares marketing plans for growing businesses. For 2017, budgeted revenues are $1,500,000 based on 500 marketin
pishuonlain [190]

Answer:

Option (a) is correct.

Explanation:

Contribution margin per marketing plan = Sales - Variable cost

                                                                   =  $3,000 - $2,000

                                                                   = $1,000

A.

(1) Break-even\ in\ rooms=\frac{Fixed\ cost}{contribution\ margin\ per\ marketing\ plan}

Break-even\ in\ rooms=\frac{400,000}{1,000}

Break even in marketing plan = 400

(2) Break-even in dollars:

= Break-even in marketing plan × Average rate per plan

= 400 × 3,000

= 1,200,000

(3) Margin of safety = Actual sales - Break-even sales in dollars

                                = 1,500,000 - 1,200,000

                                = 300,000

Margin\ of\ safety\ ratio=\frac{Margin\ of\ safety}{Actual\ sales}

Margin\ of\ safety\ ratio=\frac{300,000}{1,500,000}

                                             = 20%

B.

(1) Contribution margin per marketing plan = Sales - Variable cost

                                                                   =  $4,000 - $2,000

                                                                   = $2,000

Break-even\ in\ rooms=\frac{Fixed\ cost}{contribution\ margin\ per\ marketing\ plan}

Break-even\ in\ rooms=\frac{400,000}{2,000}

Break even in marketing plan = 200

(2) Break-even in dollars:

= Break-even in marketing plan × Average rate per plan

= 200 × 4,000

= 800,000

(3) Margin of safety = Actual sales - Break-even sales in dollars

                                = 1,500,000 - 800,000

                                = 700,000

Margin\ of\ safety\ ratio=\frac{Margin\ of\ safety}{Actual\ sales}

Margin\ of\ safety\ ratio=\frac{700,000}{1,500,000}

                                             = 47%

Therefore, option (a) would achieve the margin of safety ratio more than 45%.

7 0
3 years ago
Trevor's boss told him that he would now also be responsible for answering the phones and filing correspondence in addition to t
konstantin123 [22]

The responsibility for answering the phones and filing correspondence in addition to the tasks is an example of extension.

<h3>What is an extension?</h3>
  • An extension refers to doing an even wider range of tasks in addition to the tasks assigned.
  • Task switching is a sort of multitasking that involves switching between several abilities, tasks, or cognitive sets.
  • Multitasking is the practice of dividing one's attention among several skills, tasks, or cognitive sets.
  • The process of working as an extension involves interspersing and overlapping the execution of various programs. This is frequently accomplished by taking advantage of the discrepancy between a computer's quick processing power and its slower input/output devices.
  • If necessary, put off other chores so that one may focus entirely on the important ones when working as an extension.
  • In order to do the assignment on time, one may need to make wise choices, such as calling off a meeting. A good leader may change with the times and deviate from the norm to deal with the problems at hand.

To learn more about Multitasking refer to:

brainly.com/question/15503594

#SPJ4

7 0
2 years ago
On January 1, 2020, Waterway Company purchased 11% bonds, having a maturity value of $312,000 for $336,270.95. The bonds provide
mafiozo [28]

Answer and Explanation:

The journal entries are shown below:

1. 11% bonds payable $336,270.95

         To cash  $336,270.95

(Being the bond purchased for cash is recorded)

2. Cash ($312,000 × 11%)      $34,320

       To Interest revenue ($336,270.95 × 9%) $30,264

       To 11% bond payable $4,056

(Being the interest revenue is recorded)

Fair value adjustment $1,685.05

       To Unrealized gain $1,685.05

(Being the recognition of fair value is recorded)

It is computed below:

= (333,900 - ($336,270.95 - $4,056) )

3. Unrealized gain $13,000     ($333,900 - $320,900)

            To fair value adjustment $13,000

(Being the  recognition of fair value is recorded)

8 0
3 years ago
Who was the first human beings​
denpristay [2]

Answer:

there is not first human beings but I hope this will help you

Explanation:

The earliest members of the genus Homo are Homo habilis which evolved around 2.8 million years ago. Homo habilis has been considered the first species for which there is clear evidence of the use of stone too

8 0
3 years ago
Other questions:
  • Brenda young desires to have $15,000 eight years from now for her daughter's college fund. if she will earn 6 percent (compounde
    9·2 answers
  • Kelly and tim jarowski plan to refinance their mortgage to obtain a lower interest rate. they will reduce their mortgage payment
    15·1 answer
  • Rural grocery stores often stock products geared to the average customer in its market area. Management assumes there are neglig
    13·1 answer
  • What is the expected value when a $1 lottery ticket is bought in which the purchaser wins exactly $10 million if the ticket cont
    14·1 answer
  • Which of the following statements is true of conversion​ costs? A. The conversion cost needed for a completed unit and the conve
    13·1 answer
  • Use straight line (SL) depreciation to determine a. annual depreciation charge (5 points) and b. annual book values for the life
    13·1 answer
  • The largest expenditure component of gdp is:
    12·1 answer
  • Consider the following information:
    15·1 answer
  • Inspection costs at one of Ratulowski Corporation's factories are listed below: Units Produced Inspection Costs April 906 $ 16,3
    9·1 answer
  • Define internal customers​
    12·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!