An S corporation earns $6.00 per share before taxes. The corporate tax rate is 35%, the personal tax rate on dividends is 20%, and the personal tax rate on non-dividend income is 39%
What is the total amount of taxes paid if the company pays a $2.00 dividend?
A) $1.87
B) $2.81
C) $3.28
D) $2.34
Answer: D
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On January 1, Biden, Inc's Work-in-Process Inventory account had a balance of $31,900
During the year, $58,500 of direct materials was placed into production. Manufacturing wages incurred amounted to $85,000, of which $64,500 were for direct labor. Manufacturing overhead is allocated on the basis of 120% of direct labor cost. Actual manufacturing overhead was $90,300. Jobs costing $220,800 were completed during the year. What is the December 31 balance of Work-in-Process Inventory? A) $154,900 B) $31,900 C) $232,300 D) $11,500
Which of the following is a process that describes the homework that must be done by a salesperson before he or she contacts a prospect?
a. pre-sales dialogue b. prospect customerization c. sale profiling procedure d. preapproach