A partnership does not pay income tax, however each partner pays tax on his/her income True False
Answers
True. In a partnership, the partnership itself does not pay income tax on its profits. Instead, the partners individually report their share of the partnership's income on their personal tax returns and pay taxes on that income at their individual tax rates.
The partnership files an informational tax return, such as Form 1065 in the United States, to report its income, deductions, and other relevant information to the tax authorities. This return helps determine each partner's share of the partnership's income or loss.
Each partner receives a Schedule K-1, which outlines their share of the partnership's income, deductions, and credits. The partners use this information to report their share of the partnership's income on their personal tax returns.
Therefore, while the partnership itself does not pay income tax, each partner is responsible for paying taxes on their share of the partnership's income. This is why partnerships are often referred to as pass-through entities, as the partnership's income "passes through" to the partners for taxation at their individual levels.
Learn more about income here
https://brainly.com/question/28390284
#SPJ11
Related Questions
Last year, Dr. Lopez quit his $100,000 job at the MegaMall Dental Clinic and opened his own dental practice. His revenue for the first year was $400,000. He paid $80,000 in rent for the dental office, $60,000 for his office manager’s salary, $25,000 for the dental hygienist, $150,000 for insurance, and $10,000 for other miscellaneous expenses. Based on this information, which of these statements is correct?
Answers
Answer: D) All of the above are correct.
Explanation:
Implicit costs are the opportunity costs which refers to the value of the next best alternative to the current decision path. As Dr. Lopez quit a job that was paying $100,000 in order to open this practice, that would be his implicit costs.
His accounting profit is;
= Revenue - expenses
= 400,000 - 80,000 - 60,000 - 25,000 - 150,000 - 10,000
= $75,000
His economic profit;
= Accounting profit - Implicit costs
= 75,000 - 100,000
= -$25,000
whether the economy is in a recession is illustrated in the ad/as model by how close the _____________________ is to the potential gdp line.
Answers
Answer:
The answer is equilibrium
Explanation:
Whether the economy is in a recession is illustrated in the ad/as model by how close the equilibrium is to the potential gdp line.
What price should safeblend charge bng in 2012 after hearing about aog’s proposed contract price and percentage of business secured?
Answers
Therefore, SafeBlend should charge BNG $40 per unit in 2012 after hearing about AOG's proposed contract price and the percentage of business secured.
In order to determine the price that SafeBlend should charge BNG in 2012, we need to consider AOG's proposed contract price and the percentage of business that is secured.
First, let's assume that AOG's proposed contract price is $10 per unit. Now, let's consider the percentage of business secured by AOG. If AOG has secured 80% of the business, it means that they will be purchasing 80% of the total units.
To calculate the price that SafeBlend should charge BNG, we can use the following steps:
1. Determine the total units needed by BNG: Let's assume BNG needs 1000 units in total.
2. Calculate the units that AOG will be purchasing: 80% of 1000 units is 800 units.
3. Calculate the revenue generated by AOG: Multiply the units purchased by AOG (800) by the proposed contract price ($10). The revenue generated by AOG is $8000.
4. Calculate the remaining units needed by BNG: Subtract the units purchased by AOG (800) from the total units needed (1000). The remaining units needed by BNG are 200 units.
5. Calculate the price for the remaining units: Divide the revenue generated by AOG ($8000) by the remaining units needed by BNG (200). The price for the remaining units is $40 per unit.
Please note that these calculations are based on the assumptions provided and may vary depending on the specific details of the situation. It is important for SafeBlend to consider other factors such as production costs, market competition, and negotiation with BNG to determine the final price.
to know more about pricing methods visit:
https://brainly.com/question/30165908
#SPJ11
What type of transactions should be recorded in the Payment, Fee, Withdrawal column
of your check register?
Answers
Quail Company builds snowboards. Quail Company has reported the following costs for the previous year. Assume no production inventories.
Cost of fiberglass (raw material) $ 85,000
Factory rent $ 59,000
Advertising $ 134,000
Utilities for factory $ 12,000
Wages of assembly workers $ 91,000
Production supervisor salary $ 44,000
Sales manager salary $ 42,000
Factory property taxes $ 15,000
Depreciation on production equipment $ 30,000
Cost of bindings (raw material) $ 34,000
Screws $ 1,200
Wages of snowboard painters $ 78,000
Wages for maintenance workers $ 37,000
a. Compute the direct material costs.
b. Compute the direct labor cost.
c. Compute the manufacturing overhead.
d. Compute the total manufacturing cost.
e. Compute the prime cost.
f. Compute the conversion cost.
g. Compute the total period cost.
Answers
a. Compute the direct material costs
Explanation:
a. Compute the direct material costs
Breton Woods Standards were found to be inadequate mainly because
Answers
Answer:
A key reason for Bretton Woods' collapse was the inflationary monetary policy that was inappropriate for the key currency country of the system.
Explanation:
The US decision to suspend gold convertibility ended a key aspect of the Bretton Woods system. The remaining part of the System, the adjustable peg disappeared by March 1973.
Select ALL the correct answers.
Which two of the following are factors of production?
a home mortgage loan
stock in a construction company
a newly built house
carpentry skills
planks of hardwood
Answers
Answer:
stock in a construction company
planks of hardwood
Among the key management skills, which do you think is the most important skill that a manager should possess?
Answers
Answer:
Good communication
Explanation:
Having good communication skills is probably the most important skill of all for managers to have. Unless you can properly communicate with those you supervise, the rest of the skills really won't matter.
Match the steps that marketing management performs to the scenarios that describe the steps
Answers
The steps that marketing management performs to the scenarios that describe the steps include the "Discovery Step --- Marketing management team are performing detailed research for the best target market for their products or services."
The other steps that marketing management performs to the scenarios that describe the steps include the following:
Strategy step -- the marketing management team determines the proper marketing channels for their product or services. Then, they formulate the messaging and finally plan the timing.Implementation step -- the marketing management team decides when and where to execute their targeted, cost-effective marketing campaigns and put them into action.Measurement step -- the marketing management team assesses the marketing campaign results to know the right methods or techniques before continuing with the marketing campaign.Hence, in this case, it is concluded that the Marketing management team plays a vital role in the product life cycle.
Learn more here: https://brainly.com/question/22555057
What needs to happen to the money supply to recession?
Answers
Answer:
In order for your money suppy to recession you need credit.
Explanation:
Your credit needs to be good.
Which of the following is example of monetary policy?
Answers
Answer: I believe it would be B. not positive :)
Explanation: Expansionary fiscal policy
It entails the government spending more money, lowering taxes or both. The goal of expansionary fiscal policy is to put more money in the hands of consumers so they spend more and stimulate the economy.
You took out a mortgage for $200,000. You need to pay $1,820.09every month for 15 years.What is the monthly interest rate?
Answers
You took out a mortgage for $200,000. You need to pay $1,820.09 every month for 15 years. The monthly interest rate is is approximately 0.556%.
To find the monthly interest rate for a $200,000 mortgage with monthly payments of $1,820.09 over a 15-year term, we will use the mortgage payment formula: P = L[(r(1+r)^n)/((1+r)^n-1)]
Where P represents the monthly payment, L is the loan amount, r is the monthly interest rate, and n is the total number of payments.
In this case, P = $1,820.09, L = $200,000, and n = 15 years * 12 months/year = 180 payments. We need to solve for r.
Rearranging the formula and plugging in the given values: r = (((P * ((1+r)^n-1)) / L)^(1/n)) - 1
By using a financial calculator or iterative method, we can find that the monthly interest rate (r) is approximately 0.00556, or 0.556%. So, the monthly interest rate for the $200,000 mortgage with a 15-year term and monthly payments of $1,820.09 is approximately 0.556%.
Learn more about mortgage at:
https://brainly.com/question/30281951
#SPJ11
2. Consider an individual with the utility function () = ()1/3. In other words, her utility equals the cubed root of her income. When healthy, her income is $8,000. There is a 25% chance that she will become sick and suffer a financial loss that decreases her income to $1,000.
a. Show or describe how to show that the utility function exhibits diminishing marginal utility in income.
b. What is the expected value of her income?
c. What is her expected utility without insurance?
Answers
a. To show that the utility function exhibits diminishing marginal utility in income, we need to examine the marginal utility of income.
b. The expected value of her income is $6,250.
a. Marginal utility measures the additional utility gained from each additional unit of income.
Given the utility function \(U(Y) = Y^{1/3}\)
where Y represents income, we can calculate the marginal utility of income by taking the derivative of the utility function with respect to income.
\(\frac{dU}{dY} = \frac{1}{3}Y^{-2/3}\)
The marginal utility of income, \(\frac{dU}{dY}\) , is inversely related to income Y. As income increases, the marginal utility of income decreases. This demonstrates diminishing marginal utility in income, as each additional unit of income provides less additional utility.
b. The expected value of her income can be calculated by considering the probabilities and outcomes associated with the different income levels.
When healthy, her income is $8,000 with a probability of 75% (1 - 0.25).
When sick, her income is $1,000 with a probability of 25% (0.25).
To calculate the expected value, we multiply each outcome by its corresponding probability and sum them up:
Expected value of income = (0.75 × $8,000) + (0.25 × $1,000)
= $6,000 + $250
= $6,250
Therefore, the expected value of her income is $6,250.
c. To calculate her expected utility without insurance, we need to calculate the utility for each income level and then weigh them by their corresponding probabilities.
When healthy, her income is $8,000, and the utility is U(8000) =
\((8000)^{1/3} = 20\)
When sick, her income is $1,000, and the utility is U(1000) =
\((1000)^{1/3} = 10\)
Using the probabilities:
The probability of being healthy is 75% (1 - 0.25).
The probability of being sick is 25% (0.25).
Expected utility without insurance = (0.75 × 20) + (0.25 × 10)
= 15 + 2.5
= 17.5
Therefore, her expected utility without insurance is 17.5.
To learn more about utility function, visit:
https://brainly.com/question/32914994
#SPJ11
how willing the firms in an alliance are to share necessary resources and make sacrifices in the name of long-term rewards is referred to as partner . multiple choice question.
Answers
Commitment willing the firms in an alliance to share necessary resources and make sacrifices in the name of long-term rewards is referred to as a partner.
An outstanding strategic alliance example is the partnership between Spotify and Uber. The strategic alliance between the 2 groups lets Uber customers connect to Spotify and move their preferred tune whilst on a ride. There are 3 varieties of strategic alliances: Joint task, equity Strategic Alliance, and Non-fairness Strategic Alliance.
International locations shape alliances for a ramification of reasons however typically for navy cooperation, mutual safety, and deterrence in opposition to foes. military alliances agree that after one party has been attacked, or faces an enemy, the others will mobilize their navy to guide the prevention.
Learn more about alliance here: https://brainly.com/question/9993618
#SPJ4
why capital market, organizational, and product market stakeholders so important for a company like mcdonalds?
Answers
Capital market, organizational, and product market stakeholders are crucial for a company like McDonald's because they contribute to its financial stability, operational efficiency, and market competitiveness.
Capital market stakeholders, such as investors and shareholders, provide the necessary financial resources for McDonald's to grow and expand. Their investments enable the company to fund new projects, open new locations, and invest in research and development. A strong relationship with capital market stakeholders ensures continued access to funds and a healthy stock price.
Organizational stakeholders, including employees, managers, and suppliers, play a vital role in McDonald's day-to-day operations. Employees and managers ensure efficient service delivery and maintain the company's reputation for quality. Suppliers provide the necessary ingredients and materials for McDonald's products. By maintaining strong relationships with these stakeholders, McDonald's can optimize its operations and foster a positive work environment.
Product market stakeholders, such as customers and competitors, influence McDonald's market position and drive innovation. Customers are the driving force behind the company's product offerings, and their feedback shapes menu development and marketing strategies. Competitors push McDonald's to continuously improve and adapt to changing market trends. Engaging with product market stakeholders helps McDonald's maintain its position as a market leader and ensures continued success in a competitive industry.
To know more about the Capital market, click here;
https://brainly.com/question/1209686
#SPJ11
Direct income transfers account for approximately what percentage of total government spending? a. 10 percent b. 50 percent c. 30 percent d. 60 percent.
Answers
The percentage of total government spending accounted for by direct income transfers is approximately 30 percent.
The answer to this question depends on the specific country and its government policies. Without the specific context or country mentioned, it is difficult to provide an accurate percentage. However, direct income transfers typically refer to programs such as social welfare, unemployment benefits, pensions, and other forms of financial assistance provided by the government to individuals or households. The percentage of total government spending allocated to these programs varies across countries and can be influenced by factors such as social policies, economic conditions, and political priorities. To obtain accurate information on the percentage of total government spending allocated to direct income transfers, it is recommended to refer to government budget reports or relevant statistical sources for a specific country.
To know more about government spending here: brainly.com/question/31871643
#SPJ11
The following information relates to the intangible assets of Lettuce Express: a. On January 1, 2021, Lettuce Express completed the purchase of Farmers Produce, Inc., for $1,510,000 in cash. The fair value of the identifiable net assets of Farmers Produce was $1,359,000 b. Included in the assets purchased from Farmers Produce was a patent for a method of processing lettuce valued at $41,400. The original legal life of the patent was 20 years. There are still17 years left on the patent, but Lettuce Express estimates the patent will be useful for only 9 more years. c Lettuce Express acquired a franchise on July 1, 2021, by paying an initial franchise fee of $201,600. The contractual life of the franchise is eight years.
Answers
The franchise's annual amortization expense is $25,200 ($201,600 / 8 years), and the patent's amortization expense for the current year is $4,600.
Lettuce Express has made some purchases related to intangible assets. They bought Farmers Produce, Inc., for $1,510,000 in cash on January 1, 2021.
The fair value of the identifiable net assets of Farmers Produce was $1,359,000.
Included in the assets purchased from Farmers Produce was a patent for a method of processing lettuce valued at $41,400.
On July 1, 2021,
Lettuce Express acquired a franchise by paying an initial franchise fee of $201,600. The contractual life of the franchise is eight years.
Lettuce Express estimates the patent will be useful for only 9 more years, although there are still 17 years remaining in its original legal life
An intangible asset is a nonphysical asset that has no intrinsic value but has value because of the rights granted to the owner or its beneficial characteristics. Patents, copyrights, franchises, and trademarks are examples of intangible assets.
The cost of these assets, including their initial purchase and subsequent additions, must be recorded in the asset account. The amortization or depreciation of intangible assets is a process of allocating their cost over their useful life to match the expense to the revenue generated by the asset.
The patent for the method of processing lettuce acquired from Farmers Produce is valued at $41,400. Although the legal life of the patent is 20 years, Lettuce Express estimates that it will be useful for only nine more years. Amortization is a process used to account for the cost of intangible assets, including patents.
To calculate the annual amortization expense of the patent, the cost of the asset must be divided by the asset's estimated useful life. The patent's estimated useful life is 9 years.
The amortization expense is computed as $41,400/9 years = $4,600.
Since the patent has been in existence for one year, the amortization expense for this year will be $4,600 x 1 year = $4,600.
In conclusion, Lettuce Express has acquired a franchise, and a patent, and must amortize them. The franchise has a contractual life of eight years, and the patent has an estimated useful life of nine years. The franchise's annual amortization expense is $25,200 ($201,600 / 8 years), and the patent's amortization expense for the current year is $4,600.
To know more about patent visit:
brainly.com/question/30405917
#SPJ11
Advertising, sales promotion, public relations, and buzz building activities are all ________. A) channels that should be integrated under the concept of integrated marketing communications B) channels focused more on interactive marketing than traditional marketing C) promotional tools used for push strategies but not pull strategies D) promotional tools used for pull strategies but not push strategies
Answers
Answer:
B
Explanation:
Hope it helped you1
Which of these is MOST LIKELY a result of a high unemployment rate in
the United States?
A) increased revenues
B) increased demand for consumer goods
C) increased production of capital goods
D) greater government expenditures for transfer payments
Answers
Answer:
D Greater Government Expenditures for Transfer payments
Explanation:
Explanation. All other answers would positively effect uneployment
ownership control risk can be defined as the risk of monetary losses resulting from inadequate or failed internal processes, people, and systems.
Answers
Ownership control risk refers to the risk of incurring financial losses due to deficiencies or failures in a company's internal processes, people, and systems. It is important for organizations to have effective controls in place to mitigate this risk and safeguard their assets.
Inadequate internal processes: When a company's internal processes, such as financial reporting or inventory management, are not properly designed or followed, it can lead to errors, fraud, or inefficiencies. These issues can result in financial losses for the company. Failed internal processes: If internal processes break down or fail to function as intended, it can also increase the risk of monetary losses. For example, if a company's billing system fails to generate accurate invoices, it may lead to revenue leakage or customer dissatisfaction.
Inadequate people: The risk of ownership control also includes the human element. When employees lack the necessary skills, knowledge, or integrity to perform their roles effectively, it can create vulnerabilities within the organization. For instance, an employee with access to financial records may engage in fraudulent activities that result in financial losses for the company. Failed people: Similarly, if key employees or management fail to fulfill their responsibilities or act in the best interests of the organization, it can increase the risk of ownership control. For example, if top executives manipulate financial statements to deceive investors, it can lead to significant financial harm.
To know more about Ownership visit:
https://brainly.com/question/32419745
#SPJ11
Locate the treasury bond in figure 8. 5 maturing in may 2038. Assume a par value of $10,000. Is this a premium or a discount bond? multiple choice premium bond discount bond a. What is its current yield? (do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e. G. , 32. 16. ) b. What is its yield to maturity? (do not round intermediate calculations and enter your answer as a percent rounded to 3 decimal places, e. G. , 32. 161. ) c. What is the bid-ask spread in dollars? (do not round intermediate calculations and round your answer to 2 decimal pla
Answers
premium bond as ytm is lower than coupon rate, 3.45% is the current yield, yield to maturity is the 2.59% and 6.25 is the bid-ask spread in dollars.
given data:
par value = $10,000
face value = 10000
coupon interest = 4.500%
bid price = 130.2656
asked price = 130.3281
YTM = 2.594%
current yield = coupon interest / asked price
= 4.5 / 130.3281
= 3.45%
Coupon rate refers to the annual interest rate paid on a fixed income security, such as a bond. It is the percentage of the bond's par value that the issuer agrees to pay to the bondholder annually, typically in two equal semi-annual payments. The coupon rate is determined by the issuer when the bond is first issued and remains fixed until maturity, regardless of changes in market interest rates. The coupon rate is used to calculate the bond's interest payments, which are based on the bond's face value or par value.
learn more about coupon rate here
https://brainly.com/question/16913107
#SPJ4
which of the following should not be included in PESTLE analysis
Answers
PESTLE analysis is an external analysis and is focused on identifying the external factors that could impact the organization. Internal factors such as organizational structure, company analysis, and internal policies, should not be included in a PESTLE analysis.
PESTLE analysis is a strategic tool that is used for evaluating the external environment surrounding an organization. PESTLE stands for Political, Economic, Sociological, Technological, Legal, and Environmental. These external factors can have a significant impact on the operations and success of the organization.
The purpose of PESTLE analysis is to identify the external forces that can have a direct impact on the organization, and the information collected through this process can be used to make better strategic decisions. While all of the six factors are important to consider in a PESTLE analysis, there is one factor that should not be included, and that is "internal factors."
PESTLE analysis is an external analysis and is focused on identifying the external factors that could impact the organization. Internal factors such as organizational structure, company culture, and internal policies, should not be included in a PESTLE analysis.
Instead, internal factors should be evaluated using a SWOT analysis, which is a tool that focuses on the internal strengths and weaknesses of an organization. SWOT analysis is often used in combination with PESTLE analysis to create a comprehensive view of an organization's external and internal environment.
For more such questions on organization
https://brainly.com/question/25922351
#SPJ8
please i need help with this !!
Answers
Answer:
Save
Measure
Notes
Services
Money
Barter
Swapped
Forms
How do I know when I need to start doing taxes?
Answers
Answer:
when you start working a regular job
Explanation:
Answer:
When you start working
Explanation:
Rogers Company reported net income of $35,000 for the year. During the year, accounts receivable increased by $7,000, accounts payable decreased by $3,000 and depreciation expense of $8,000 was recorded. Net cash provided by operating activities for the year is
Answers
As per the given question, the net cash provided by operating activities for the year is $33,000.
What is net income?Net Income refers to the sales minus cost of goods sold and other operating expenses.
The net cash provided by operating activities for the year is $33,000 (35,000+8,000-7,000-3,000).
Therefore, Net cash provided by operating activities for the year is $33,000.
Learn more about Net income here:
https://brainly.com/question/15570931
#SPJ1
Why might someone want to file a tax return even if they dont meet the minimum income requirement
Answers
A taxpayer might want to file a tax return because they want to ensure they pay necessary tax as when due.
What is a filing of tax return?A tax return basically means the forms filed with the tax authority by a taxpayer that entails his/her income, expenses, tax information etc.
The filing of tax return allow the taxpayers to:
calculate their tax liabilityschedule tax paymentsrequest refunds etcHowever, a taxpayer might want to file a tax return even if they dont meet the minimum income requirement because they want to ensure they pay necessary tax as when due.
Read more about tax return
brainly.com/question/25783927
what are the main characteristics of a competitive market?
Answers
A competitive market is one where many producers and consumers exchange similar goods and services. The market determines the prices and amounts of goods or services that are produced or demanded. It is important to identify the main characteristics of a competitive market in order to study and compare it with other market structures.
The following are the main characteristics of a competitive market:
Many buyers and sellers: A competitive market has a large number of buyers and sellers who are engaged in buying and selling similar products.
None of them have the ability to control the market and can only take decisions based on the market forces of supply and demand.
Homogeneous products: The products sold in a competitive market are similar or identical to each other in terms of quality, features, and price. Each seller is considered a price taker as there is no differentiation between the products sold.
No barriers to entry or exit: New firms can enter the market at any time without any restrictions or government regulations, and existing firms can exit the market at any time as well.
Perfect information: Buyers and sellers in a competitive market have access to all information about the price, quality, quantity, and features of the products sold in the market.
They can make rational decisions based on this information.
No externalities: The costs and benefits of production and consumption are borne by the producers and consumers respectively.
The government does not intervene in the market to regulate prices, supply or demand.
These characteristics help to define a competitive market and allow for producers and consumers to interact in a way that benefits all parties involved.
Learn more about competitive market here,
https://brainly.com/question/7024827
#SPJ11
Select the correct answer.
Which equation is the correct fundamental accounting equation?
OA owner's equity = liabilities -assets
OB.
assets liabilities - owner's equity
=
OC. assets = liabilities + owner's equity
O D.
assets + liabilities = owner's equity
Answers
Answer:
Assets=liabilities+owner's equity
Because susans standard deduction is greater than the amount she made, it turns out that Susan never owed taxes. How large of a refund should she expect from the Federal
government if she follows through on filing her 1040 form
Answers
Note that if Susan's standard deduction is greater than the amount she made, it means her taxable income is zero. If she had any taxes withheld from her paychecks throughout the year, she would be eligible for a full refund of those taxes.
What is the rationale for the above response?Assuming Susan is a single taxpayer under the age of 65 and not claimed as a dependent on anyone else's tax return, her standard deduction for tax year 2022 (filing in 2023) would be $12,950.
If Susan's total income for the year is less than or equal to $12,950, she would owe no federal income tax and would be eligible for a full refund of any federal income tax withheld from her paychecks or estimated tax payments she made throughout the year.
The exact amount of her refund would depend on how much federal income tax was withheld from her paychecks or paid in estimated tax payments throughout the year. Susan can determine the amount of her refund by completing her tax return using Form 1040 and any other applicable forms and schedules.
Learn more about deductions:
https://brainly.com/question/3158031
#SPJ1
Which of the following is an advantage of diversity in the workforce?
OA. Discrimination is increased.
B. Communication is easy.
OC. Teams are more productive.
D. Wages are always fair.
Answers
One advantage of diversity in the workforce is C. Teams are more productive.
What good thing does diversity at work bring?As a result of diversity in the workplace, there will be a flow of different ideas from various perspectives on how to handle things.
This would lead to more productivity as the best formulas from different cultures are applied to production to make it better.
In conclusion, an advantage of diversity in the workforce is teams are more productive.
Find out more on the benefits of diversity at https://brainly.com/question/1330957
#SPJ1