Accounting what is their tax liabilities Great news!! Our favorite pizza shop, Joe'shad a record year. They had $4,743,823 insales. For the year they had cash operatingexpenses of $523,854. They had COGS of$1,240,000. They had depreciation of$100,000 (not counted in cash operatingexpenses), They paid interest on their bondsof $114,000. They decided to pay $52,000 individends. They also received $27,000 individend income in a company they have a45% ownership stake in, what is their taxliability?

Step 1:- Corporate Income TaxA corporation's income will be taxed according to the laws of corporate…

Answered: Great news!! Our favorite pizza shop,…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Similar questions

The problem describes a debt to be amortized. (Round your answers to the nearest cent.) Sean Lee purchases $30,000 worth of supplies for his restaurant by making a $4,000 down payment and amortizing the remaining cost with quarterly payments over the next 6 years. The interest rate on the debt is 16% compounded quarterly. (a) Find the size of each payment. $ (b) Find the total amount paid for the purchase. $ (c) Find the total interest paid over the life of the loan. $
NOTE: STRICTLY USE THE GIVEN FORMULA IN THE PHOTO ATTACHED 1. How much must a man deposit in a bank that pays 7% compounded annually so that after 10 years he will have P3,000,000 2. How much must a corporation deposit in a bank which credits interest at 12% compounded monthly to come up in 8 years with P2,500,000 needed for its expansion program? 3. In purchasing of house, a man makes P720,000 down payment and agrees to pay P1,200,000 5 years later. Find the cash value of the house if money is worth 14% compounded semi-annually. 4. On the birth of a child, a father wished to invest in a trust fund which gives 12% compounded quarterly. How much must he invest if he wants to accumulate P650,000 by the time the child reaches his 21st birthday? 5. To provide for a purchase of a car worth P950,000 as a gift to his mother 5 years from now. How much should Benjamin invest today at 18% compounded quarterly? 6. Mrs. Dela Cruz invested P70,000 at 12% compounded quarterly for 5 years and…
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How would I do this?
This year 10 years after you first took out the loan, you check your loan balance. Only part of your payments have been going to pay down the loan, the rest has been going towards interest. You see that you still have 120,730 left to pay on your loan. Your house is now valued at $180,000. how much of your original loan have you paid off?
This year (10 years after you first took out the loan), you check your loan balance. Only part of your payments have been going to pay down the loan; the rest has been going towards interest. You see that you still have $126,323 left to pay on your loan. Your house is now valued at $220,000. How much of the original loan have you paid off? (i.e, how much have you reduced the loan balance by? Keep in mind that interest is charged each month - it's not part of the loan balance.) The total mortgage amount as $144,000, interest rate is 8%, the mortgage is 30 years.
In this example, Daniel & Claire each deposited $10,000 in high interest savings accounts and each earned 5% interest annually. Daniel’s ROI remained the same each year while Claire’s increased each year. What type of interest did Daniel’s bank pay? What type of interest did Claire’s bank pay?
The Torres family wants to purchase a home that is valued at $275 000. They have a $35 000 down payment. The bank has offered them a 3.75% annual interest rate amortized over 25 years. Enter the missing values in the table below. Month 0 1 2 Monthly Interest Principal Unpaid Balance Owner's Equity Payment Payment
A person invested two amounts in a bank for a full year at a common interest rate.The total benefits on the two amounts is $ 220.If you know that the interest of the second amount, which equals $ 3,000 exceeds the interest of the first amount by $ 140.If you know that the first amount was invested for a period of 6 months, and the second amount was invested for a period of 9 months.What is the value of the first amount and what is the interest rate?
I am searching for the correct answer to this general accounting problem with proper accounting rules.
The problem describes a debt to be amortized. (Round your answers to the nearest cent.) A man buys a house for $350,000. He makes a $150,000 down payment and amortizes the rest of the purchase price with semiannual payments over the next 5 years. The interest rate on the debt is 10%, compounded semiannually. (a) Find the size of each payment. $ (b) Find the total amount paid for the purchase. $ (c) Find the total interest paid over the life of the loan. $
Marlin and Dory decide to start Message in a Bottle marketing business. Marlin cashes in a $15,000 savings deposit that was paying 6% interest per year. Dory sells a $20,000 bond that was paying 10% interest per year. They also borrow $30,000 from RBC Bank at 15% per year. What are the yearly implicit costs of financing the Message in a Bottle business? Select one: A. $7,400 B. $34,500 C. $2,900 D. $37,900 E. $72,400

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