The governor of South Dakota reports a budget surplus in 2011 and he states that the government received more taxes in the year than it spent in that year
Explanation:
Budget is the amount that the government plans and spends for the future needs and always the government introduces the budgets in the beginning of the year
Taxes must be paid regularly by the citizens and it is the due responsibility and the report of the taxes paid will be given to the governor an the report will be read and in one such report the governor of Dakota reported that there was a budget surplus the government received more taxes than it spent
Answer:
-$7,000
Explanation:
Net loss reported by Jamaal this year from the S corporation:
= Ordinary income - suspended loss from the S corporation
= (40 percent of the S corporation × Ordinary income) - suspended loss from the S corporation
= (40% × $10,000) - $11,000
= $4,000 - $11,000
= -$7,000
Jamaal may deduct the $11000 loss carryover against his debt basis,
which was increased by his $14,000 contribution,
and his $4,000 share of S corporation income.
Answer:
b. It is a luxury good.
Explanation:
Income Elasticity = 2
The Income Elasticity > 1. So, it is luxury goods. In economics, income elasticity for luxury goods is greater than 1 (i.e. Income Elasticity > 1). So option b is correct.
Answer:The profit is $740
Explanation:4(500)-[3(320)+300]
4x500=2000
3x320=960+320=1260
2000-1260=$740
The stock dividend causes the stockholder's percentage ownership in a company to <u>remain</u> the same.
Basically, the stock dividend refers to the amount paid as part of profit distribution to the shareholders of a corporation.
- Stock dividend are paid to stockholders who hold a unit of share with the corporation.
- The stock dividend does not affect the percentage of ownership in the firm because it is paid directly to the stockholders
Therefore, the Option B is correct.
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