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soldier1979 [14.2K]
3 years ago
8

The safe-harbor provision:​ a. ​none of the above b. ​is part of SOX. c. ​provides lawyers with protection from "up the ladder"

reporting. d. ​allows the sale of securities prior to the effective date of the registration statement.
Business
1 answer:
olga nikolaevna [1]3 years ago
5 0

Answer:

The correct answer is letter "A": none of the above.

Explanation:

The safe-harbor law is a regulation that helps defendants to be found not liable on certain situations under certain conditions where according to strict law they were to be responsible. Most of the time, in cases where the law is so unclear or unknown, defendants can be subject to the safe-harbor provision for their liabilities to be forgiven.

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3. This year, Paula and Simon (married filing jointly) estimate that their tax liability will be $200,000. Last year, their tota
choli [55]

Answer:

When a taxpayer has an underpayment of estimated tax or fall behind on his/her tax prepayment, then he/she is required to pay a penalty on Form 2210. This penalty is called underpayment penalty.

According to the tax laws, Mr. P and Ms. S can avoid an underpayment penalty if their withholding's and estimated tax payments equal or exceed one of the following two safe harbors:

  • 90 percent of current tax liability ($200,000 x 90% = $180,000)
  • 110 percent of previous year tax liability (110% x $170,000 = $187,000)

From the above calculation, it is clear that Mr. P and Ms. S's withholding's ($175,000) do not equal or exceed the amount of two safe harbors. So, they need to increase their withholding's or make estimated payments to avoid underpayment penalty.

If Mr. P and Ms. S increase their withholding's by $5,000 or make estimated payments of $1,250

per quarter ($5000/4), they can avoid the underpayment penalty.

Mr. Paula and Simon average gross income is greater than $150,000, so 110% is taken.

7 0
3 years ago
Read 2 more answers
A bond with a $1,000 par value sells for $895. The coupon rate is 7%, the bonds mature in 20 years, and coupon interest is paid
LuckyWell [14K]

Answer:

After tax cost of debt is 5.239%

Explanation:

Given:

Face value = $1,000

Bond price = $895

Coupon payments = 0.035×1,000 = $35 (coupon payment is paid semi-annually so 7% is divided by 2)

Maturity = 20×2 = 40 periods

Using bond price formula:

Bond price = Present value of face value + present value of coupon payments

Use excel function =RATE(nper,pmt,PV,FV) to calculate cost of debt.

substituting the values:

=RATE(40,35,-895,1000)

we get Pre-Tax cost of debt = 4.03% semi- annual

Annual rate is 4.03%×2 = 8.06%

Note: PV is negative as bond price is cash outflow.

After tax cost of debt = 8.06(1 - 0.35)

                                     = 5.239%

3 0
3 years ago
Nash's trading post, llc issues 2000 shares of $10 par value common stock at $11 per share. when the transaction is recorded, cr
Natasha2012 [34]

Answer:

Credit common stock by 20,000

Credit additional paid in capital by 20,000

Explanation:

The par value of the share are $10 per share the number of shares are 2000 so initially we will credit common stock by (2000*10) = 20,000

Then we will credit the additional paid in capital by (11-10)*(2,000) =2000 as it is the additional money that we are getting on the par value.

4 0
3 years ago
On January 1, 2014, Evers Company purchased the following machine for use in its production process:
iren2701 [21]

Answer:

a) Calculate the amount of depreciation expense that Evers should record each year of its useful life under the following assumptions. Show your workings.

(1) Straight-line method

depreciable value = $180,000 - $10,000 = $170,000 / 4 = $42,500 per year (same for each year)

(2) Double declining balance method

depreciation expense year 2014 = $180,000 x 1/4 x 2 = $90,000

depreciation expense year 2015 = $90,000 x 1/4 x 2 = $45,000

depreciation expense year 2016 = $45,000 x 1/4 x 2 = $22,500

depreciation expense year 2017 = $22,500

(3) Units-of-activity method and estimates that the useful life of machine is 125,000 units. Actual usage is as follows: 2014, 45,000 units; 2015, 35,000 units; 2016, 25,000 units; 2017, 20,000 units.

depreciation expense per unit = $170,000 / 125,000 units = $1.36

depreciation expense year 2014 = $1.36 x 45,000 = $61,200

depreciation expense year 2015 = $1.36 x 35,000 = $47,600

depreciation expense year 2016 = $1.36 x 25,000 = $34,000

depreciation expense year 2017 = $1.36 x 20,000 = $27,200

b) Which method used to calculate depreciation reports the highest amount of depreciation expense in year 1?

double declining balance

The highest in year 4?

straight line method

The highest total amount over the 4-year period?

double declining balance

5 0
3 years ago
In reviewing research on power, you discover that there are three other common sources of power in organizations. Which of the f
Rudiy27
It is information power
3 0
3 years ago
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