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melomori [17]
3 years ago
7

What amount would Becca declare on her income tax return if Becca and Suzanne had formed a Subchapter S corporation and there wa

s no provision in their agreement on how profits are to be split? a. ​the full $275,000 b. ​$137,500 c. ​the Subchapter S corporation must retain at least half of the $275,000 and Becca reports half of $137,500 d. ​nothing, because the Subchapter S corporation reports that income and pays the taxes
Business
1 answer:
trapecia [35]3 years ago
7 0

Answer: B. 137,500

Explanation: since there was no provision in their agreement on how profits are to be split,

The full profit after expenses will be split/shared equally for peace sake.

ie $275,000÷2 = $137,500

Also, following Subchapter S corporation; it requires that  all the owners be treated the same way in terms of their shares of the firm’s operating profits, liquidation profits, and distributions of those profits.

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Which of the following should be disclosed by a company providing health care benefits to its retirees? I. The assumed health ca
mars1129 [50]

Answer: Both I and II

I. The assumed health care cost trend rate used to measure the expected cost of benefits covered by the plan. II. The accumulated post retirement benefit obligation.

Explanation:

Company must disclose the expected cost of benefits covered by their health care plan and also the accumulated post retirement benefit plan obligation.

5 0
3 years ago
Savion is restoring a car and has already spent $4,000 on the restoration. He expects to be able to sell the car for $5800. Savi
8090 [49]

Based on the selling price of the car and the cost to work on it, Savion should sell the car now for $3,800.

<h3>Why should Savion sell the car?</h3><h3 />

The profit if he works on the car is:

= Selling price - Addtional work cost

= 5,800 - 2,400

= $3,400

The profit from selling the car is $3,800 which is more than the profit if additional work is done of $3,400.

The $4,000 is irrelevant as it is a sunk cost.

Find out more on sunk costs at brainly.com/question/13695005.

#SPJ1

7 0
2 years ago
Hedge funds can invest in various investment options which not generally available to mutual funds. These include ______.
sleet_krkn [62]

Answer: D.I, II, III, and IV .

Explanation:

Hedge Funds are a form of Financial Partnerships where people pool money together and invest in various instruments. What sets them apart from Mutual funds is that they legally have the right to invest in just about anything, and they do.

Hedge Funds are very Aggressive in investing because they aim to make above average profits for their partners and indeed the only thing that normally reduces their investment scope is their own mandate or set limitations.

As such Hedge funds are allowed to invest in futures and options, merger arbitrage, currency contracts, and companies undergoing Chapter 11 restructuring and reorganization etcetera.

6 0
3 years ago
You rent a car for $29.95. The first 150 miles are free, but each mile thereafter costs 15 cents. You drive it 200 miles. What i
ohaa [14]

Answer:

The marginal cost of driving the car is $7.50 + the cost of gas.

Explanation:

Initial cost: $29.95

200 miles you drove- 150 miles free= 50 miles you have to pay for

50 miles * 15 cents per mile

50* 0.15= $7.5

<u><em>$7.50</em></u>

4 0
2 years ago
When going into a partnership, you should always:_________.
Lena [83]

Answer: A. put all terms of the partnership into writing in a partnership agreement.

Explanation:

The most important terms in a partnership agreement is ensuring that all terms are noted down and binded legally, this is to help partners know when need to do something and don't feel cheated or be cheated by someone or something. Avoidance of reaching out to terms noted down will further make things complex either when the business is growing or when there is need to shutdown or during operations.

8 0
3 years ago
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