What happens on the floor of a stock market?

Catherine is a U.S. citizen who is employed by DSC, Inc., a global company. Beginning on August 1, 2020, Catherine began working

marin [14]

Answer:

a. Is Catherine eligible for the foreign income exclusion for 2020?

Yes

b. Catherine may exclude <u>$45,104</u> from her gross income for 2020.

Explanation:

In order for Catherine to qualify for the foreign income exclusion, she must have lived in a foreign country for at least 1 one (physical presence test). She lived for more than 1 year if we combine her residence in Germany and Slovenia.

The foreign income exclusion amount for 2020 is $107,600, and Catherine can exclude up to (153 days / 365 days) x $107,600 = $45,103.56 ≈ $45,104.

5 0

3 years ago

question content area for the year ended december 31, orion, inc. mistakenly omitted adjusting entries for $1,500 of supplies th

Oduvanchick [21]

Errors will have a $2,300 overstatement of net income on revenues, costs, and net income.

The amount earned by an individual or business after costs, allowances, and taxes is referred to as net income. Net income in the company is the amount that remains after all costs, such as salaries and wages, the cost of goods or raw materials, and taxes, have been paid.

Net income = Total revenue - total expenses

where,

Total revenue = Unearned revenue = $4,200

Total Expense = Supplies expense + insurance expense = $1,500 + $5,000 = $6,500

Net Income = Total revenue - Total Expenses = $4,200 - $6,500

Net Income = -$2,300

Therefore, there's an overstatement of $2300 in Net Income.

To know more about Net Income, refer to this link:

brainly.com/question/6391667

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6 0

1 year ago

Research indicates that 17 percent of consumers recognize the Flatfeet brand of athletic wear. If there are 30,000 consumers in

jenyasd209 [6]

Answer:

5,100 Consumers

Explanation:

The 17% of the total consumer recognize Flatfeet brand which means:

Consumers who recognize Flatfeet = Total Consumers * percentage of people that recognize the brand

Here

Total consumers are 30,000

And

Percentage of people that recognize the brand is 17%

By putting values, we have:

Consumers who recognize Flatfeet Brand = 30,000 * 17%

Consumers who recognize Flatfeet Brand = 5,100 Consumers

3 0

4 years ago

Prepare the issuer’s journal entry for each of the following separate transactions.a. On March 1, Atlantic Co. issues 51,000 sha

Shalnov [3]

Answer:

March 1

Account Debit Credit

Cash $323,000

Common Stock $153,000

Paid-In Capital in Excess

of Par Value $170,000

April 1

Account Debit Credit

Cash $87,000

Common Stock-no par value $87,000

April 6

Account Debit Credit

Inventory $56,000

Common Stock $56,000

Machinery $170,000

Paid-In Capital in Excess of

Common Stock $170,000

Note Payable $92,000

Cash $92,000

4 0

4 years ago

Stewart Inc.'s latest EPS was $3.50, its book value per share was $22.75, it had 220,000 shares outstanding, and its debt-to-ass

stellarik [79]

Answer: Option (c) is correct.

Explanation:

Given that,

EPS = $3.50

Book value per share = $22.75

Shares outstanding = 220,000

Debt-to-assets ratio = 46%

Total Equity (Book Value) = Book value per share × Shares outstanding

= $22.75 × 220,000

= $5,005,000

Total Assets = $\frac{Total\ Equity}{1 - Debt\ to\ assets\ ratio}$

= $\frac{5,005,000}{1 - 0.46}$

= $9,268,518.52

Debt outstanding = Total Assets - Total Equity

= $9,268,518.52 - $5,005,000

= $4,263,518.52

= $4,263,519 (approx)

5 0

3 years ago