Answer:
$8.25
Explanation:
The computation of basic earnings per common share is shown below:-
Dividend to be accrued on Preference shares = 11,000 × 100 × 5%
= $55,000
Earnings available to common share holders = $550,000 - $55,000
= $495,000
Basic Earnings per share = Earnings available to common share holders ÷ Shares of common stock
= $495,000 ÷ $60,000
= $8.25
The word that best describes the effects of income taxes as the income increases is regressive.
A regressive tax unlike progressive tax in which rates increases as the payer's income increases, it increases as the payer's income decreases. examples of regressive taxes include sales taxes, user fees among others. Regressive describes a distribution effect on income or expenditure, referring to the way the rate progresses from high to low.
The answer is<u> "type A".</u>
Individuals who are delegated having Type A personality have characteristics like: they have a feeling of time earnestness, think that its hard to unwind, and regularly turned out to be eager and irate when they get deferred (or in the event that they will be late) or are around other individuals whom they see as awkward. The Type A is a common typical individual working at his most extreme conceivable speed. Type A's typically need to accomplish a major objective however they feel that time is exceptionally restricted.
Answer:
The first loan for $8,000 could fall under the exemption of employer-employee loan. But then after the second is taken, that exemption would no longer apply. A minimum interest of $18,000 x 4% x 6/12 = $360 should be charged.
If the loan is considered a corporation-shareholder loan, then it doesn't qualify for any type of exemption, resulting in interests = ($8,000 x 4% x 6/12) = $160 for 2020
for 2021, interest applied = [($8,000 + $160) x 4%] + ($10,000 x 4% x 6/12) = $326.40 + $360 = $686.40
Answer:
$222,450
Explanation:
Computation of annual income statement for Kvass Inc. is shown below
Sales revenue
$4,887,000
Less:
Selling and admn expenses
($1,052,000)
Other expenses
($249,300)
Advertising and promotion expenses
($553,350)
Salaries and wages expenses
($2,527,800)
Income tax expenses
($167,350)
Interest expense
($114,750)
Net income
$222,450
