A corporation earns $8.30 per share before taxes. The corporate tax rate is 39%, the personal tax rate on dividends is 15%, and the personal tax rate on non-dividend income is 36%. What is the total amount of taxes paid per share if the company has a payout ratio of 45%?   Answer to two decimals (dollars and cents) A corporation earns $8.30 per share before taxes. The corporate tax rate is 39%, the personal tax rate on dividends is 15%, and the personal tax rate on non-dividend income is 36%. What is the total amount of taxes paid per share if the company has a payout ratio of 45%? Answer to two decimals (dollars and cents) ASAP

Q: The balance in Accounts Receivable at the beginning of the year was $520,000. The balance in…

A: Credit sales is a term in which the goods is transferred to the customer on a credit basis. In which…

Q: If there were 40000 pounds of direct materials on hand on January 1, 120000 pounds are desired for…

A: Raw Material Purchase Budget: When developing a production budget, it is necessary to determine how…

Q: Swifty has a standard of 1.2 pounds of materials per unit, at $4 per pound. In producing 3000 units,…

A: Materials Variance :— Variance analysis direct material price variance is the difference between the…

Q: How to do the post-adjustment trial balance of Fling Incorporated for the financial year ended 31…

A: A financial statement represents the financial position and performance of the business entity…

Q: Kramer’s Company gathered the following reconciling information in preparing its October bank…

A: Bank reconciliation: It is a statement drawn up by the business to verify the cash book balance with…

Q: Rusty, Inc. is the sole distributor of a computer product that sells for $50 per unit, and has a…

A: Marginal Costing - Marginal Costing is good method used to calculate cost of each additional unit…

Q: On September 1, 2021, Howell Company purchased 600 of the P1,000 face value, 9% bonds of Ramsey,…

A: The bonds purchased for non trading are recorded as investment in the balance sheet. The difference…

Q: Financial Accounting Project: 1. The owner, Josef Miguel, invested Php250,000 cash in the business.…

A: Income Statement The purpose of preparing the income statement is to know the net income which are…

Q: L, E, and A are partners with capital balances of P787,500, P945,000, and P315,000, respectively.…

A: Introduction: Partnership is a form of business in which two or more person joins together to carry…

Q: On July 1, 2021, Tremen Corporation acquired 40% of the shares of Delany Company. Tremen paid…

A: The share and security acquired by the business entity are classified as assets. The ending balance…

Q: Blue Whale Moving and Storage recently purchased a warehouse building in Santiago. The manager has…

A:

Q: Li Company uses a sales journal, purchases journal, cash receipts journal, cash payments journal,…

A: The cash receipts journal follows the basic rule of accounting, which states that you should debit…

Q: Diane's Designs has two classes of stock authorized 8%, $10 par value preferred and $1 par value…

A: Journal entries are reported it the books to keep a record of the financial transactions of the…

Q: 3. Carol Stoy invested $1000 at 5% annually for three months. How much interest did she received? 4.…

A: • February month of a leap year consists of 29 days.   • Under simple interest, Amount = Interest +…

Q: On October 1, 2021, Best Company purchased as debt investments at fair value through profit or loss,…

A:

Q: On March 31, Bob Company paid for a one-year insurance policy that begins April 1. Bob's journal…

A: Prepaid expenses are those expenses which are being paid in advance for future period of time. This…

Q: The shareholders' equity section of the statement of financial position of ABC Co. contains the…

A:

Q: nsaction cash in ement of bility tion ash nt of le adju mies of asinis si obuloni atom 5249qxa…

A: Adjustment entries can be made at the end of year, at the end of month or end of quarter according…

Q: The Gourmand Cooking School runs short cooking courses at its small campus. Management has…

A: The flexible budget performance report is prepared to evaluate the difference between actual…

Q: The ABC Corporation received subscription for 9,000 ordinary shares at P40/share, where P35 is the…

A: Here discuss about the details of the details of the receivable from the highest bidder which are…

Q: Operational auditing has grown in importance over the last few decades.   a. Define operational…

A: Introduction: An operational audit is a process for analyzing a company's daily and larger operating…

Q: On May 30, Cecil Company purchased merchandise on account from Ricci Company as follows - List…

A: Journal entries are the basic method for recording financial transactions in the books of accounts.…

Q: Question 5 of 20: Select the best answer for the question. 5. The term used to designate that the…

A: At the time of purchases or sales, various terms are recorded in the invoice including purchase…

Q: Is there a balance sheet for Aunt Ibby's Styling Salon?

A: Given that, Net income = $13,710 Ending capital = $4,475 Drawings= $12,000  Styling supplies = $50…

Q: On December 1, Macy Company sold merchandise with a selling price of $10,000 on account to Mrs.…

A: Gross Method :— Under this method, sales and purchases are recorded at gross price or full price…

Q: Marigold Corp. has 30000 units in beginning finished goods. If sales are expected to be 110000 units…

A: Production Budget: The production budget is formed from a combination of the sales forecast and the…

Q: What is the value of the inventory on August 20 if the last in first out method of evaluation is…

A: Last in First Out (LIFO) is one of the method of valuation of inventory. Under this method, Closing…

Q: Santana Rey, owner of Business Solutions, decides to prepare a sta data. BUSINESS SOLUTIONS Income…

A: The cash flow statement is prepared to record the cash flow from various activities during the…

Q: ompute the ending balance of the Work-in-Process Inventory account for July.           Job X14…

A: Ending inventory in WIP represents that the inventory remained at the end of the period in the…

Q: On December 31, 2021, Empoy Company has overdue notes payable of P5,000,000 with accrued interest of…

A:

Q: Luis sold a rental house he had owned for several years

A: As per Internal Revenue Service [IRS] USA , a rental property can be…

Q: Required information [The following information applies to the questions displayed below.] Ramirez…

A: Beginning Cost of the machine: $85,400 Useful life: 20 years Salvage value: $5,000 Machine's second…

Q: In the account below, calculate the balance for September 16, 20-. Then perform the forwarding…

A: Posting balances into Ledger account is one of an important process of accounting cycle in which…

Q: How much is the defined benefit cost for 2022?

A: As per IAS 19 the entity should recognize the expenses to be paid to employee in future due to the…

Q: What

A:

Q: In the Sunland Company, indirect labor is budgeted for $59400 and factory supervision is budgeted…

A: Flexible budget Cost :— It is multiplication of variable cost per unit & Actual unit produced…

Q: The treasurer is solely responsible for the petty cash fund. A) True B) False

A: Petty cash funds are those funds which are established for small petty expenses of the business.…

Q: The H2 Corp has the following classes of share capital outstanding as of Dec 31, 2021. Ordinary…

A: Ordinary Shares: 20,000 Shares  Par Value of Ordinary Shares: P20 Preference Shares: 2,000 shares…

Q: 6. Find the future value on an investment of $12,000 for seven years at 6% annual interest…

A: Future value is value of the investment on a future date based on a interest rate  Given PV= 12000…

Q: In a government’s comprehensive annual financial report, proprietary fund types are included in…

A: A set of related companies' activities are compiled into a single document via the combined…

Q: Required: 3. Calculate the internal rate of return for each product. 4. Calculate the…

A: Internal Rate of return is that Rate of Return upon which Present Value of Cash Inflows is Equal to…

Q: ABC Corporation has P10 par, 5,000,000 shares outstanding as of October 31, 2022. On November 15,…

A: Dividend means the share of profits which is being divided to the shareholders. It can be in the…

Q: On June 30, 2021, Omara Co. had outstanding 8%, P3,000,000 face amount, 15-year bonds maturing on…

A: Carrying Amount :— It refers to face value plus unamortized premiums less unamortized discount.…

Q: Forever Young Corporation had 50,000 ordinary shares of P100 par value and 25,000 preference shares…

A: Cumulative and participating Preference Share :—  Cumulative preference share means preferred…

Q: On July 1, 2022, Mocha Corporation issued P5M of its 10%, 7-year bonds with one detachable share…

A: The question has asked about the issue price of the share warrants outstanding. Definition of some…

Q: Eddy Co. is indebted to Cole under a P400,000, 12%, three-year note dated December 31, 2019. Because…

A: Lets understand the basics. When there is financial difficulties arise to borrower and borrower is…

Q: journalise the transaction

A: Promissory notes are instruments designed where the maker of the note (payer) makes a promise to pay…

Q: Diane's Designs has two classes of stock authorized: 7%, $10 par value preferred and $1 par value…

A: Introduction: A journal entry is used to document a business transaction in the accounting records…

Q: DEF Co. reported taxable income of P8M in its income tax return for the 1st year of operations. The…

A: Introduction           Deferred tax refers to the difference between tax computed as per the…

Q: On July 1, 2021, Matiyaga Company purchased  1,000 shares of Masipag  Corp. P100 par ordinary shares…

A: In the context of the given question, we are required to compute the carrying value of Matiyaga's…

Fringe Benefit Tax

Fringe benefits are in addition to the compensation that companies give to their employees. It is an additional benefit above the stated salary. It helps to keep the employees of the firm motivated as sometimes the only salary is not enough to retain the quality employees of the firm. There are different types of fringe benefits. Fringe benefits are given in both private as well as public enterprises.