A firm's operating income is 500,000 the depreciation on equipment over the last year is 50,000 and the firm's tax rate is 30% fixed assets on the balance sheet increased by 100,000 over the last year. Operating capital has not changed over the last year. What was the capital spending over the last year?

Luna Health Corp just announced the dividend for next year will be $3.45. The dividend is expected to grow at 3.8% for the sustainable future and the expected return is 11.15%. The value of Luna is closest to:

Select an answer and submit. For keyboard navigation, use the up/down arrow keys to select an answer.

a

$46.94.

b

$48.72.

c

$30.94.

The following balances have been extracted from the books of XYZ Company for the year to
31/12/2019

Dr Cr
US$ US$

Cash at bank and in hand 10,000
Plant and equipment:
At cost 70,000
Accumulated depreciation (at 31.12.19) 25,000
Retained earnings (at 1.2.2020) 15,000
Profit for the financial year (to 31.12.19) 20,000
Share capital (issued and fully paid) 50,000
Inventory (at 31.12.19) 27,000
Trade payables 17,000
Trade receivables 20,000

127,000 127,000

Additional information:
1 Corporation tax owing at 31 December 2019 is estimated to be $3000.
3 A dividend of 10p per share is proposed but not paid as of 31.12.2019
Prepare XYZ (1) statement of profit or loss and (2) statement of retained earnings, and (3)
a statement of financial position for the year to 31 December 2019.

The cost of goods sold during the year was $281200. Inventory increased by $9000 during the year and accounts payable decreased by $14100 during the year. Using the direct method of reporting cash flows from operating activities, cash payments for inventory total

$295300.

$304300.

Please help clarify the steps to calculate corporate taxable income for the year based on the following financial information (book versus tax income). If any information is needed please ask before shutting down the question as incomplete.

Apex Corporation was incorporated on January 1, 2017. Here is the income & balance sheet statement for Apex Corp. for December 31, 2017.

Here are some other data:

1. The total compensation of officers is $2,500,000; other wages and salaries is $5,000,000.
2. Apex actually wrote off $27,000 of its accounts receivable as uncollectible.
3. Charitable contributions, $500,000, were all cash contributions.
4. Tax depreciation was $1,900,000.
5. Apex wrote off $30,000 of goodwill as impaired.
6. Apex’s dividends received deduction is $130,000
7. Apex made $480,000 in estimated tax payments.
8. Apex’s taxable interest income is $8,000.
9. Apex’s other deductions are 166,600.

A client earned in first year of business, in 2015 $50,000 in cash however was told that the money earned did not have to be claimed however you learned that the client actually earned $190,000 in 2015 in cash.

Is it correct that if you earned all cash it does not have to be reported?

Is the cash that the client made taxable? If so how much?

.What will you tell the client?

What laws govern this situation? (Source)

What penalties are possible? (source for the information)

The records of the Dodge Corporation show the following results for the most recent year:

Given these data, the unit contribution margin was:

$4

$5

$19

$9

Personal Budget

At the beginning of the school year, Craig Kovar decided to prepare a cash budget for the months of September, October, November, and December. The budget must plan for enough cash on December 31 to pay the spring semester tuition, which is the same as the fall tuition. The following information relates to the budget:

a. Prepare a cash budget for September, October, November, and December. Use the minus sign to indicate cash outflows, a decrease in cash or cash payments.

Feedback

b. Are the four monthly budgets that are presented prepared as static budgets or flexible budgets?

Static

c. What are the budget implications for Craig Kovar?

Craig can see that his present plan will not provide  sufficient cash. If Craig did not budget but went ahead with the original plan, he would be $ ________ short  at the end of December, with no time left to adjust.

The net income reported on the income statement for the current year was $121,900. Depreciation recorded on store equipment for the year amounted to $20,100. Balances of the current asset and current liability accounts at the beginning and end of the year are as follows:

a. Prepare the “Cash flows from operating activities” section of the statement of cash flows, using the indirect method. Use the minus sign to indicate cash outflows, cash payments, decreases in cash, or any negative adjustments.

b. Cash flows from operating activities differs from net income because it does not use the   of accounting. For example revenues are recorded on the income statement when