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Anna35 [415]
3 years ago
14

Mio was transferred from New York to Germany. He lived and worked in Germany for 340 days in 2020. Mio's salary for 2020 is $190

,000. Assume a 366-day year. In your computation, round any division to four decimal places before converting to a percentage. For example, 0.473938 would be rounded to 0.4739 and converted to 47.39%. If required, round your final answer to the nearest dollar. What is Mio's foreign earned income exclusion
Business
1 answer:
vfiekz [6]3 years ago
7 0

Answer:

Mio's foreign earned income exclusion is $99,960

Explanation:

The calculation of the Mio's foreign earned income exclusion is given below:

The foreign earned income exclusion limit for 2020 is $107,600

Now the foreign earned income exclusion depend on days equivalent to

=  Foreign earned income exclusion limit × (2020 days ÷ total number of days in a year)

= $107,600 × (340 days ÷ 366 days)

= $99,960

Hence, Mio's foreign earned income exclusion is $99,960

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Porter Co. owned all of the voting common stock of Simi Corp. The corporations' balance sheets dated December 31, 2018, include
Katena32 [7]

Answer: $672,000

Explanation:

Porter sold land to Simi which means that their land balance reduces. Simi's however increases by the same amount. As Porter owned all the voting stock, the sale will be accounted for at the book value.

The Consolidated balance for land in 2020 will therefore be calculated as,

= (Porter land value - Sales price) + (Simi land value + Sales price)

= (416,000 - 65,000) + (256,000 + 65,000)

= 351,000 + 321,000

= $672,000

The book value of the Consolidated land will be $672,000 in 2020.

3 0
3 years ago
Matching Exercise: Match the type of bond to its definition. a)The Catastrophe Bond: b)A Warrant Bond: c)An Income bond: d)A Con
RUDIKE [14]

Answer:

Match the type of bond to its definition.

a)The Catastrophe Bond:

This bond is security emitted by a company to raise funds in the form of debt because it suffered a natural disaster and needs liquidity.

b)A Warrant Bond:

This type of bond is emitted by a company to favor the holder for the right to buy a stock at a price that will be decided by the company at the moment of the warrant bond expedition. This price is not linked to the market stock price at the moment of execution.

c)An Income bond:

This security is a bond that compromises the company to pay the established amount if the company makes enough earnings to issue the fraction established of the debt,

d)A Convertible bond:

This type of security provides a stable payment for the holder as payment for the lending of a certain amount of money. However, it has a special right to be converted in stock if the holder wants it.

e)A Put bond:

This type of security compromises the issuer to buy a certain stock from the holder at a certain price with a certain duration.

Explanation:

The reasons to back this answer are:

a)The Catastrophe Bond:

This bond is security emitted by a company to raise funds in the form of debt because it suffered a natural disaster and needs liquidity. This is a very effective bond to issue debt in any unexpected event.

b)A Warrant Bond:

This type of bond is emitted by a company to favor the holder for the right to buy a stock at a price that will be decided by the company at the moment of the warrant bond expedition. This price is not linked to the market stock price at the moment of execution. This is a very good bond to reward management for good results.

c)An Income bond:

This security is a bond that compromises the company to pay the established amount if the company makes enough earnings to issue the fraction established of the debt, This is a very good bond to not compromise to use a payment of a debt, and keeping it outside a bad scenario for the company.

d)A Convertible bond:

This type of security provides a stable payment for the holder as payment for the lending of a certain amount of money. However, it has a special right to be converted into stock if the holder wants it. This bond is very good to increase the stocks in the market and reduce the sare price to pump it.

e)A Put bond:

This type of security compromises the issuer to buy a certain stock from the holder at a certain price with a certain duration. This type of bond is very good to sell short the position of a company with bad performance.

3 0
3 years ago
Ruddick Corporation is a manufacturer that uses job-order costing. The company has supplied the following data for the just comp
irina1246 [14]

Answer:

Given that,

Cost of goods manufactured = $1,486,000

Cost of goods sold (unadjusted) = $1,337,000

Therefore, the journal entry for the transfer of completed goods from WIP to Finished goods is as follows:

Finished Goods A/c        Dr. $1,486,000

To Work in process                                   $1,486,000

(Being transfer of completed goods from work in process to finished goods recorded)

4 0
3 years ago
What is a good camera for vlogging and how much does it cost? I'm looking something for 1,000 and under.
kozerog [31]

Answer:

EOS M50 Mark II EF-M 15-45mm f/3.5-6.3 IS STM Lens Kit Black

search it

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3 years ago
Rule-of-thumb budgeting is budgeting that's popular with the hospitality and tourism industry because it's so effective.
a_sh-v [17]
I think the answer is false

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7 0
3 years ago
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