Answer:
a. Taxpayers in the scenario:
There are three (3) taxpayers and these are:
- Mr. Josh Kenny
- JK Services
- JK Realty
b. Governments with jurisdiction:
- Mr. Josh Kenny falls under the State of Vermont where he is a resident.
- JK Services falls under the State of Vermont where it is incorporated and operates.
- JK Realty falls under the City of Boston where it is operates.
Answer: The use of promotional signage
Explanation:
A promotional signage is a method of advertisement where special offers are displayed at strategic points by a business to the public to attract customers to patronize the business. Manila in her is making use of promotional signage to draw the attention of potential buyers to her store.
Answer:
c. $57,556
Explanation:
Operating Cash flow = Net Income + Non cash Expenses + net Change in working capital
Operating Cash flow = 44,245 + 16,500 + (-12,500 + 9310)
Operating Cash flow = 57,555
$
Sales 361,820
Cost <u> (267,940) </u>
Gross Income 93,880
Depreciation <u> (16,500) </u>
Operating Income 77,380
Interest Expense <u>(9,310)</u>
Income before Tax 68,070
Tax 35% <u>(23,825)</u>
Net Income <u> 44,245 </u>
