Answer:
Explanation:
The computation is shown below:
Corporate tax = (Taxable income - bonus expenses) × corporate tax rate
= (925,000 - $153,000) × 21%
= $162,120
The corporate tax rate is 21% and we take the same for computation
Shareholder tax = Bonus expenses × marginal tax rate
= $153,000 × 35%
= $53,550
So, the total income tax would be equal to
= $162,120 + $53,550
= $215,670
Answer:
The land should be recorded in Clairemont Repair Service’s records at $380,000
Explanation:
According to the historical cost principle, the recording of the fixed assets should be recorded at the purchase price or cost price which is to be shown in the assets side under the balance sheet.
So, according to the question, on February 28, the repair service accepted the seller's counteroffer which means that the land was purchased on February 28 for $380,0000. So, by $380,000 amount, the land would be recorded.
Other costs which are mentioned in the question is ignored.
Answer:
C. She wants to work with a different group of adults.
Explanation:
Whitney has an associate degree in early childhood education, so she is qualified for the job, the pay is $35,000 which is above her least requirement and she likes to work with children which the company does so, however she does not want to work with such group of adults (employees) who are not comfortable working with the children as she is a social person and wants to work in a fun environment with happy people.
Answer:
Chapter 7 bankruptcy
Explanation:
Chapter 7 bankruptcy is the most common type of bankruptcy filing and it can be filed by individuals, partnerships or corporations (anyone can do it). It is also the quickest and simplest form of bankruptcy filing. But if you are an individual, in order to qualify for Chapter 7 bankruptcy you must earn less than the median state income. Many people choose Chapter 7 bankruptcy since they can get to keep all or almost all of their property.
Answer:
1: C. In most states, Alex would be found not guilty by reason of insanity.
2: C. fining the corporation.
3: D. shoot a man who is about to spray you with a water hose.
4: C. not guilty because he did not act on his plan.
5: C. a misdemeanor.
6: B. free because she acted under duress.
7: D. would have a conclusive presumption in his favor of not having been responsible.
8: D. have not engaged in a pattern of racketeering activity because they made only six sales.
9: A. the defendant's statements cannot be admitted as evidence.
10: C. arraigned
