Answer:
ROI = 0.4
Explanation:
To find the answer, we use the following formula:
Return on Investment = Profit / Investment
Now, we simply plug the amounts into the formula:
Return on Investment = $720,000 / $1,800,000
= 0.4
Explanation:
In this case, it is incorrect to wait until payment to record the expense, as organizational accounting is essential in an organization so that there is a record and control of organizational financial transactions so that companies can obtain information about the business and take reasoned decisions based on the current reality of the company.
Therefore, all income and expenses for the period must be recorded in accounting so that there is real information about an organization's movements in a period.
Answer:
C. $15,000
Explanation:
Given that
Finished goods inventory, January 1 $ 3,200
Finished goods inventory, December 31 4,000
Total cost of goods sold 14,200
So the cost of goods manufactured is
As we know that
Cost of goods sold = Opening balance of finished goods + Cost of goods manufactured - ending balance of finished goods
$14,200 = $3,200 + Cost of goods manufactured - $4,000
So, the cost of goods manufactured is $15,000
Answer:
The correct option is D,file quarterly and annual financial reports with the SEC
Explanation:
Accredited investor are high net worth businesses or individuals who trade in securities that are not registered with Securities and Exchange Commission,Ellison Fiber Optics does not require accredited investors as it is publicly traded company registered with SEC.
Insider dealing is an offence the world over,hence the company can be condoned by SEC for taking part in insider dealing.
Company like this are mandated to file returns quarterly and annually.
Answer:
A. = (15% X $2M) + (21% X $2M) = $720,000. Since there is no mechanism for mitigating double taxation, the branch profit will be taxed on the to tax rate of 15% and 21% which is $300,000 and $420,000.
B. The total tax for $2m branch profit if US corporations can remove foreign based profit from US taxation will be just the 15% x $2m = $300,000.
C.If they are allowed to take deductions for foreign income taxes, the total tax on the $2m branch profit will be (21% -15%) x $2m = $120,000.
Explanation:
D.1. If credit are allowed for foreign income tax paid, total tax will be ($2m - $300,000 been foreign tax paid) x 21% = $357,000
D.2.
If the charge foreign income taxes at 30% and US corporations can claim refundable credit for foreign income tax paid on foreign source income = ($2m - $300,000 been the foreign income tax paid) = $1 700,000 x 30% = $510,000
