Yola Corporation is required to include 15 items in their 10-K for the year ending 9/30/21. In which required item from the 10-K would this content be located? Emily Smith, Chief Product Officer Total non Equity Compensation $1,250,000 Question 28 options: a) Certain Relationships and Related Transactions b) Executive Compensation c) Business d) Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Yola Corporation is required to include 15 items in their 10-K for the year ending 9/30/21. In which required item from the 10-K would this content be located? Emily Smith, Chief Product Officer Total non Equity Compensation $1,250,000 Question 28 options: a) Certain Relationships and Related Transactions b) Executive Compensation c) Business d) Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

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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9
Prepare the statement of financial position as at 31 december 2020
Corporation XYZ Income Satement For the year that ends in December 31, 2022 Sales $ 660,000 Cost of goods sold $ (450,000) Gross income $ 210,000 Operating expenses (see note) $ (144,000) Interest expense $ (5,300) Unrealized loss on stock investments $ (500) Profit from sale of equipment $ 1,000 $ (148,800) Income before taxes $ 61,200 Tax expenses $ (18,360) NET INCOME $ 42,840 Partial information of the Comparative Statement of Financial Position (Excluding cash, all current asset accounts and current debts of the company are summarized here) 31/12/22 31/12/21 Difference Accounts Receivable $ 63,000 $ 72,000 $ Allowance for uncollectable accounts $ 1,000 $ 700 $ Inventory $ 114,000 $ 90,000 $ Accounts Payable $ 24,000 $ 42,000 $ Interest Payable $ 2,500 $ 1,000 $ Taxes payable $ 5,200 $ 4,000 $ Discount on bonds payable $ 2,000 $ 2,300 $ Other information 1. During the year, the corporation write-off $200 from the uncollectable accounts During the year, there we no emissions or…
Prepare the Statement of Changes in Equity of Camray Traders for the year ended 28 February 2021 using template provided The following must be taken into account:(a) The net profit according to the statement of comprehensive income amounted to R1 400 000 on 28 February2021.(b) The partnership agreement made provision for the following:¦ Interest on capital must be provided at 18% per annum on the balances in the capital accounts.Note: Camy increased her capital by R240 000 on 01 September 2020. Raymond decreased his capital byR120 000 on the same date. The capital changes have been recorded.¦ The partners are entitled to the following monthly salaries:Camy R26 000Raymond R25 000Note: The partners’ salaries were increased by 10% with effect from 01 December 2020.¦ Camy and Raymond share the remaining profits or losses equally.
Jacob Mills has provided you with the following information: 2019 2020 2021 Taxable capital gains on sale of qualified small business corporation shares . . . . . . . . . . . . . . . . . . . . . $75,000 - $300,000 Business investment loss (before ssec. 39(9) adjustment) - - 160,000 Interest income . . . . . . . . . . . . . . . . . . . . . . . . . . .. - $1,200 2,400 Grossed-up taxable dividends . . . . . . . . . . . . . . . . . .. - 240 - Net rental income (loss) . . . . . . . . . . . . . . . . . . . . . . . - (1300) (320) Carrying charges . . . . . . . . . . . . . . . . . . . . . . . . . . . . - 3,075 - The 2019 taxable capital gain was fully offset by a capital gains deduction in that year. —REQUIRED Determine Jacob’s capital gains deduction for 2021 supported by all the necessary calculations. Assume that there were no other capital transactions before 2019.
1. Marjorie corporations ”total” reasonable business needs for 2021 was $320,000. Marjorie corporation accumulated earnings and profits ( E & P) at the beginning of 2021 was $210,000 ( including consideration for the dividends listed below) Marjorie Corporation also had the following information for 2021. Taxable income $350000, federal income tax $119,000, dividends received ( less than 20& owned domestic corporation $ 100,000, Cash dividends paid in 2021 $ 40,000, dividends paid January 31 2021 $ 20,000, Consent dividends $ 10,000, Excess charitable contribution $ 16,000. Net capital loss adjustment $ 8000. The Accumulated taxable income for purpose of the Accumulated Earnings tax for Marjorie’s Corporation for the year of 2021 is 1.$97000 2.$90000 3.$110000 4.$100000 Answer is $97,000 please explain this how 2. Marjorie corporations ”total” reasonable business needs for 2021 was $320,000. Marjorie corporation’s Accumulated earnings and profits ( E & P) at the…
dear tutor, please assist me to solve this advanced financial accounting question
Rhodes Corporation: Income Statements for Year Ending December 31(Millions of Dollars) 2020 2019Sales $ 11,000 $ 10,000Operating costs excluding depreciation 9,618 8,730Depreciation and amortization 370 330 Earnings before interest and taxes $ 1,012 $ 940Less interest 280 200 Pre-tax income $ 732 $ 740Taxes (25%) 183 185Net income available to common stockholders $ 549 $ 555Common dividends $ 204 $ 200Rhodes Corporation: Balance Sheets as of December 31 (Millions of Dollars) 2020 2019AssetsCash $ 650 $ 600Short-term investments 230 200Accounts receivable 2,750 2,500Inventories 1,250 1,200 Total current assets $ 4,880 $ 4,500Net plant and equipment 3,750 3,500Total assets $ 8,630…
The financial statements of Company Permanent and its subsidiary Company Senior are shown below. Statement of Financial Position As at 31 December 2019: Permanent Senior $ $ Investment in Senior 450,000 - Other net assets 4,653,400 605,550 5,103,400 605,550 Share capital 2,350,000 300,000 Retained earnings 2,753,400 305,550 5,103,400 605,550 Income Statement and Partial Statement of Changes in Equity For the Year Ended 31 December 2019 Permanent Senior $ $ Sales 10,000,000 3,300,000 Cost of sales (9,000,000) (3,139,450) Dividend income from Senior 24,000 - Profit before tax 1,024,000 160,550 Tax (220,000) (35,000) Profit after tax 804,000 125,550 Retained earnings, 1 January 2019 2,050,000 210,000 Dividends declared (100,600)…
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The following is available for Golden Corporation for 2019: Sales 2,000,000 Average invested capital (assets) 500,000 Net income 300,000 Cost of capital 18% What is the residual income for Golden Corp.? P – 0 - P 200,000 P 210,000 P 246,000 Group of answer choices 1 2 3 4