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Savatey
6 days ago
9

Candlewood LLC started business on August 1, and it adopted a calendar tax year. During the year, Candlewood incurred $10,950 in

legal fees for drafting the LLC's operating agreement and $5,475 in accounting fees for tax advice of an organizational nature, for a total of $16,425 of organizational costs. Candlewood also incurred $22,000 of preopening advertising expenses and $31,000 of salaries and training costs for new employees before opening for business, for a total of $53,000 of startup costs. The LLC wants to take the largest deduction available for these costs. If required, round any division to six decimal places and use in subsequent computations. Round your final answers to the nearest dollar. How much can Candlewood deduct as organizational expenses
Business
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Julie is a sales associate for ABC Realty. She sold a house that was listed in the MLS from XYZ REALTORS®. The list price was $3
harina [3808]

Response:

Julie obtuvo $5,087.25 en comisión por esta venta.

Clarificación:

Precio de venta del inmueble = Precio listado * Porcentaje de venta = $340,000 * 95% = $323,000

La comisión sobre las ventas del inmueble = Precio de venta * Tasa de comisión = $323,000 * 7% = $22,610

Monto de la comisión para el corredor de Julie = Comisión sobre la venta * Porcentaje de la comisión destinado al corredor de Julie = $22,610 * 45% = $10,174.50

Dado que Julie y su corredor dividen la comisión de manera equitativa, tenemos:

La comisión ganada por Julie en la venta de la propiedad = Monto de la comisión para el corredor de Julie / 2 = $10,174.50 / 2 = $5,087.25

Por lo tanto, Julie ganó $5,087.25 en esta venta.

4 0
1 month ago
Colgate reported Diluted EPS of $2.38 in accordance with GAAP. How much higher would EPS be if Colgate ignored the impact of res
Katen [3525]

Answer:

The EPS will exceed $2.38

Explanation:

Earnings per share represent the funds available to shareholders after all expenses and taxes have been deducted. Restructuring costs are one-off expenses and are classified as other operating expenses in the Income Statement. Including these restructuring and similar charges in the Income Statement leads to reduced Earnings before Tax and eventually lower net profit. Exclusion of these costs will result in increased earnings, consequently raising the company's EPS.

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2 months ago
The cost constraint suggests that, even when the cost of providing accounting information exceeds its benefit, the financial acc
Nady [3600]

Answer:

False

Explanation:

According to GAAP, if the costs associated with providing accounting information surpass the benefits of obtaining such data, then it should not be reported.

For instance, there might be minimal discrepancies in particular accounts that prevent a balance sheet from being accurate. If the accounting mistake is negligible, such as a few hundred dollars, it isn't practical to have an entire audit team re-examine all financial statements to find the source of the error. An adjusting entry could be utilized to balance the accounts.

Consider a scenario where you, as an auditor, need to verify the physical inventory at a factory, but some supply boxes have been misplaced. Counting all supplies and materials again could take an entire day; however, is it truly worth that time? If the items are highly valuable, then yes, otherwise, if they consist of low-cost components, likely not.

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2 months ago
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