Option a) $5075.88 is the addition to the retained earnings
Current profits less any dividends or other payouts to shareholders are a company's retained earnings. Every time an accounting entry is made that has an effect on a revenue or expense account, this sum is modified. A sizable retained profits balance suggests that the corporation is in a secure financial position.
Computing after-tax profit:
(Revenues - Interest cost - Depreciation - Cost of goods sold - Administrative costs) x ( 1 - tax)
= ($42629 - $1,230 - $2,609 - $23,704 - $7,040) x ( 1 - 22%)
= $6,275.88
Retained earnings addition:
= After-tax net profit - Dividends paid
= 6,275.88 - 1,200
= $5,075.88
Hence, option a) is the correct answer
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Answer:
funny business has the word loan in it never trusted cuz one they might take away all your money and use it for something else like spending it on spoiled Rich daughters and pretty much just using your own money on random things that they don't need
Answer: Sam must report $700,000($900,000 - $200,000) for tax purposes.
Explanation:
Because Sam is the sole shareholder of Silver, and has a basis of $200,000 in his stock. Once Silber distributes $900,00to Sam on December 31
Answer:
Answer for the question
Sandra and Kelsey are forming a partnership. Sandra will invest a piece of equipment with a book value of $6,400 and a fair market value of $16,100. Kelsey will invest a building with a book value of $46,500 and a fair market value of $64,300.
What amount will be recorded to Sandra's capital account?
Is given in the attachment.
Explanation:
Answer:
Part I :
1) Total amount of oats allowed = 960000*16 = 15360000 ounce
2) Total amount of labor hours allowed = 960000*.04 = 38400 Hours
<u>Part II :
</u>
1) Total amount of oats allowed = 750000*17 = 12750000 ounce
2) Total amount of labor hours allowed = 750000*.04 = 30000 Hours