Discuss whether any part of the $2 million constitutes ordinary income (4 marks). Wholesaler Pty Ltd has 3 purchase contracts (for Products X, Y and Z) with three different suppliers, as well as 3 sales contracts (with department store A for Product X, with department store B for Product Y, and with department store C for Product Z). The seller that supplies Wholesaler with Product X cancels the 10 year contract when the contract still has 4 years to run. The contract for the purchase of Product X represents 20% of Wholesaler's buying costs, though sales of Product X account for 80% of its total revenue. The seller (that cancelled the contract) gives Wholesaler $2 million as compensation for cancelling the remainder of the contract. In its own internal documents, the seller that compensated Wholesaler stated that $1.5 million of this was calculated on the basis of future loss of profits, and $0.5m was for loss of Wholesaler's reputation due to the cancellation. As it turned out the reputation loss of Wholesaler was very limited and it quickly recovered its reputation in a matter of months.
Answers
In determining whether any part of the $2 million constitutes ordinary income for Wholesaler Pty Ltd, we need to consider the nature and purpose of the compensation.
Out of the $2 million, $1.5 million was calculated as compensation for the future loss of profits due to the cancelled contract. Since this amount represents a reimbursement for anticipated earnings from sales, it can be considered as ordinary income.
On the other hand, the $0.5 million provided for the loss of Wholesaler's reputation is more difficult to categorize. Although the company recovered its reputation quickly, this compensation was intended to address a non-recurring issue and is not directly tied to the company's regular business operations. Therefore, it is less likely to be considered ordinary income. In summary, out of the $2 million compensation, $1.5 million may constitute ordinary income due to its connection with anticipated sales revenue, while the remaining $0.5 million is less likely to be considered ordinary income, as it was intended for reputation loss, which is not directly related to the company's normal business operations.
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Related Questions
HELP ASAP Many employees quit working for Burger Bliss after six months, and the
company wants to convince employees to stay longer. Which of the following
activities would best help the company retain workers?
O A. The company provides discipline for bad behavior like giving
employees days off.
B. The company recruits college graduates instead of high school
graduates.
C. The company better plans for the number of employees to hire.
D. The company tells employees that their work matters.
Answers
Answer:
D. The company tells employees that their work matters.
Explanation:
Every employer desires to attract and retain the best workers. Employees are more likely to stay in an organization for longer if they feel appreciated. Other than monetary compensation, employees feel motivated to work when their efforts and contributions are recognized.
Burger Bliss should let their employees feel important. They should communicate to employees both in words and actions how much the company values their input.
a 510(k) premarket notification is submitted: When the new device to be marketed is substantially similar (equivalent) to one already on the market. True or false?
Answers
True.
A 510(k) premarket notification is submitted to the U.S. Food and Drug Administration (FDA) when a company intends to market a new medical device that is substantially equivalent to a device already on the market (known as a predicate device). The purpose of the 510(k) submission is to demonstrate that the new device is as safe and effective as the predicate device and that there are no significant differences in intended use, technological characteristics, and performance characteristics between the two devices. If the FDA determines that the new device is substantially equivalent to the predicate device, it may be cleared for marketing in the United States.
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In july, lane co. Sells merchandise to avery co. On account. In august, avery pays the balance in full. The entry that lane will make to record the receipt of cash will include a credit to the _______ account.
Answers
The entry that lane will make to record the receipt of cash will include a credit to the Accounts Receivable account.
What is Accounts Receivable?Accounts Receivable is the amount, which a company will receive from its customers who have purchased its goods & services on credit.
It refers to the money that the customer owe to the company for the goods or services that they have already received but not yet paid for.
For example- Goods purchase on credit by ABC, the amount gets added to the accounts receivable.
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baket gusto mo maging flight attendant
Answers
describe how expectation of changes in supply can affect the supply of a product
Answers
Expectations sellers have for a good's future price, which is taken for granted when constructing a supply curve. If sellers anticipate a higher price, supply will decline. If sellers anticipate a lower price, supply will rise.
How expectations can affect demand?Buyer expectations are one factor that shifts demand. Buyers who postpone purchasing an item today in the hopes that the price will drop in the future reduce the current demand for that item. On the other hand, if a customer anticipates that the price will rise in the future, there will be a greater demand for the product right now.
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Which best describes the business, management, and administration career cluster?
Answers
Answer:
are careers that are focused on running businesses.
Explanation:
The Business, Management, and Administration career cluster includes business skills essential to efficient, productive operations for any company (Administrative and information support, Business analysis, Business, financial management and accounting, Human resources, Management..) The Business, Management, and Administration career cluster is best described with the following: These are careers that are focused on running businesses.
Correct answer: A
Cost of the asset: $100,000. Cost of the asset – Estimated salvage value: $100,000 – $20,000 = $80,000 total depreciable cost. Useful life of the asset: 5 years. Divide step (2) by step (3): $80,000 / 5 years = $16,000 annual depreciation amount
Answers
Depreciation is the process of allocating the cost of a tangible asset over its useful life. In this example, the asset has a cost of $100,000 and an estimated salvage value of $20,000.
This means that the total depreciable cost of the asset is $80,000 ($100,000 - $20,000).
The useful life of the asset is estimated to be 5 years. To calculate the annual depreciation amount, we need to divide the total depreciable cost by the useful life of the asset. Therefore, the annual depreciation amount would be $16,000 ($80,000 / 5 years).
This means that the company can deduct $16,000 from its taxable income each year for the next five years to account for the cost of the economy asset. The salvage value of $20,000 represents the estimated amount that the company will receive for the asset at the end of its useful life. This salvage value will reduce the amount of depreciation expense that the company can claim in the final year of the asset's useful life.
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One benefit of a savings account is that you can earn interest on your deposits
O True
O False
Answers
Answer:
O True
Explanation:
A savings account offers a safe and secure platform for firms and households to save money. Savings accounts are offered by financial institutions such as banks and credit unions. When customers open savings accounts, they save by depositing money in their savings accounts.
Banks and credit unions require customer deposits to create loans for other customers. They encourage customers to save by offering interest on savings or deposits. It is true that banks pay interest on customer savings.
what are the pros and cons of Mercedes's decision to abandon the
culture and some of its home-country practices?
Explain with examples.
Answers
Mercedes is a globally recognized and iconic German automobile manufacturer that has always been associated with the high quality and performance of their products.
The company's decision to abandon some of its home-country practices, however, comes with both pros and cons that must be taken into consideration .Pros of abandoning culture and home-country practices By abandoning culture and home-country practices, Mercedes will be able to increase its global market share and become more attractive to customers from different parts of the world.
This is particularly important in the modern world where globalization has made it possible for businesses to compete in different markets all over the world. By embracing diversity and taking into account the needs of customers from different backgrounds, Mercedes will be able to reach out to a wider audience and increase its customer base. In addition, by abandoning some of its home-country practices by abandoning its culture and practices, Mercedes also risks alienating its loyal customers who are proud of the company's heritage and traditions.
Mercedes' decision to introduce hybrid and electric cars is an example of the pros of abandoning home-country practices. By embracing new technology and innovation, Mercedes has been able to appeal to a wider audience and gain a competitive edge in the market. On the other hand, Mercedes' decision to change the design of its iconic G-Class SUV is an example of the cons of abandoning home-country practices.
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HURRY!!!!
Which describes the process of how a business incorporates? The business must gain government permission and issue a stock sale, followed by a shareholder vote. The business must issue a stock sale and take a shareholder vote, followed by government permission. The business must take a shareholder vote and gain government permission, followed by a stock sale. The business may gain government permission, followed by writing a charter to shareholders and issuing a stock sale.
Answers
Answer:
A. The business must gain government permission and issue a stock sale, followed by a shareholder vote.
Explanation:
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If a single firm can produce and supply an entire market at a lower unit costthan many small firms can, the long-run average total cost must be(A) increasing as firm size increases(B) remaining constant as firm size increases(C) decreasing as the firm's output increases.(D) constant and equal to marginal cost.
Answers
The answer to the student question is (C) decreasing as the firm's output increases. This situation describes a scenario where economies of scale are present, meaning that as a firm increases its production, its long-run average total cost (LRATC) decreases.
When a single firm can produce and supply an entire market at a lower unit cost than many small firms, it implies that the firm is experiencing economies of scale.
Economies of scale occur when a firm can lower its average cost of production as it increases its output. This is usually due to the firm being able to spread its fixed costs over a larger number of units produced, resulting in a lower cost per unit.
In this case, the long-run average total cost (LRATC) must be decreasing as the firm's output increases, since the firm is able to produce at a lower unit cost as it expands production. This is option (C) in the question.
Option (A) is incorrect because if LRATC were increasing as firm size increases, this would indicate diseconomies of scale rather than economies of scale.
Option (B) is incorrect because if LRATC were remaining constant as firm size increases, this would suggest constant returns to scale, not economies of scale.
Option (D) is incorrect because it is not necessary for LRATC to be constant and equal to marginal cost in order for the firm to produce at a lower unit cost than many small firms.
In conclusion, the correct answer is (C) decreasing as the firm's output increases, as this indicates that the firm experiences economies of scale, allowing it to produce at a lower unit cost than many small firms.
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6. Which of the following describes a non-employee business? (1 point)
an architect who has only a part-time assistant
a small ice cream shop where only one person works at a time
a person who works from home for a larger company
a manicurist who works from her home or at clients houses
Answers
Answer:
a manicurist who works from her home or at clients’ houses
Explanation:
the real risk-free rate is 2.50%. inflation is expected to be 4.50% this year and 1.50% during the next 2 years. assume that the maturity risk premium is zero. what is the yield on 3-year treasury securities?
Answers
The yield on 3-year treasury securities is 3.3%.
What is treasury securities?In place of taxes, the United States Department of the Treasury issues United States Treasury securities, also referred to as Treasuries or Treasury's, to fund government spending.
Treasury securities are the definition of conservative investments when it comes to the safety of the principal. The last line of defence against any potential principal loss, these instruments have stood as a stronghold of safety in the turmoil of the investing markets for decades.
We have to calculate the yield on 3 year treasury, the formula to calculate yield is
yield=r+IP1+IP2+IP3/3
r= risk free rate
IP= expected returns.
yield=2.50+4.50+1.50+1.50/3
yield=10/3
yield=3.333%
Therefore, the 3.333% is the yield for 3 year treasury securities.
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The level of communication that occurs when people use telephone, reports and memos is referred to as
A. mediated communication
B. intra personal communication
C. inter personal communication
D. person to group communication
Answers
Answer:
A. Mediated communication
Explanation:
A. Mediated Communication is the type of communication that is facilitated by some kind of technology, be it social media, telephone, email, etc.
B. Intra-personal communication is the communication that takes place with yourself. It is when you reflect upon your work, life, and morals and get to know more about yourself.
C. Interpersonal communication is one that takes place between two people. It can further be of various types depending on whether it takes place within the company or outside it.
D. Person-to-group communication is when one person communicates to a group of people at one time. Some examples of the same can be seminars, webinars, or presentations.
two important features that managers can adjust in an effort to improve the firm's strategic position are
Answers
Two important features that managers can adjust in an effort to improve the firm's strategic position are product features, customer service .
What is Strategic positioning ?
Strategic positioning refers to a company's choices regarding how to satisfy customers and outperform competitors. The competitive environment, the firm's internal resources and capabilities, the state of the industry, and information about the macroenvironment are all factors that a firm must consider in order to develop its position.
What is an example of a strategic position?
A computer corporation that concentrates on offering cutting edge technology at premium prices before its competitors would provide an excellent example of a positioning strategy.
A huge chain store that prioritizes offering well-liked products to many people at affordable prices is another example of a positioning strategy in action.
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For the manufacturing firm, tier 2 suppliers provide ______________ with components. A.the manufacturing firm's competitors B.tier 3 suppliers C.tier 1 suppliers D.distribution centers
Answers
For the manufacturing firm, tier 2 suppliers provide tier 1 suppliers with components. Hence, Option C is correct.
What is the meaning of suppliers?A supplier is a person, business, or other entity that offers clients products or equipment for sale. Most often, the receiver is referred to as the buyer and the seller is the supplier.
When it comes to actual goods, vendors usually sell to final consumers and purchase their goods from suppliers.
The Tier-1 suppliers receive their parts from the Tier-2 suppliers. The Tier-1 suppliers produce the goods and give the OEMs, or original equipment manufacturers, the final goods.
Therefore, Option C is correct.
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Question 27 Corporations prefer bonds over preferred stock for financing their operations because preferred stocks require a dividend. bond interest rates change with the economy, while stock dividends remain constant. o the after-tax cost of debt is less than the cost of preferred stock. None of these options are true
Answers
Corporations prefer bonds over preferred stock for financing their operations because the after-tax cost of debt is less than the cost of preferred stock.the correct option is "the after-tax cost of debt is less than the cost of preferred stock."
A bond is a fixed income instrument that represents a loan made by an investor to a borrower. The borrower could be a corporation, a government, or a public organization. The borrower guarantees the principal amount and interest payments, which are specified in the bond agreement. The bond may be resold to another investor before it matures. Bonds are more favorable to preferred stocks as a method of financing for corporations because preferred stocks have an expectation of payment in the form of a dividend.
Thus, corporations prefer to use bonds as a means of financing their operations because the cost of debt is less than the cost of preferred stock. Hence, the correct option is "the after-tax cost of debt is less than the cost of preferred stock."
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Market skimming prices are preferred in all of the following conditions except __________.
A.
an initial low price is set by the companies
B.
competitors should not be able to enter the market easily and undercut the high price
C.
the product's quality and image must support its higher price
D.
enough buyers must want the product at that price
E.
the costs of producing a smaller volume cannot be so high that they cancel the advantage of charging more
Answers
Market skimming prices are preferred in all of the following conditions except when there are not enough buyers.
Market skimming prices are a pricing strategy where a company sets a high initial price for a product to capitalize on early adopters and generate high profits. However, this pricing strategy may not be preferred in all conditions.
One situation where market skimming prices may not be preferred is when there are not enough buyers who are willing to pay the high price for the product. If there is not a significant market for the product at the high price point, the company may not be able to sustain this pricing strategy.
It is important for companies to assess their target market and production costs before implementing market skimming prices. While this pricing strategy can be effective in certain situations, it may not be suitable for every product or market. Ultimately, the success of market skimming prices depends on finding the right balance between pricing and demand.
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Which of the statement is NOT a purpose of an
organizational structure?
A. To coordinate people and resources
B. To organize lines of communication
C. To formalize authority
D. To limits workers' rights
Answers
Which of the statement is NOT a purpose of an
organizational structure?
Choosing:A. To coordinate people and resources
B. To organize lines of communication
C. To formalize authority
D. To limits workers' rights
Answer:B. To organize lines of communication
#READINGHELPSWITHLEARNING #CARRYONLEARNING #STUDYWELLHow a corporation assigns job titles, functions, and obligations is determined by its organisational structure. Hence option B is correct .
What is organizational structure?It aids in establishing who reports to whom and who decides what. Several departments frequently collaborate on projects in startups, which frequently have a matrix organisational structure.
An organisational structure is a framework that specifies how certain tasks are to be carried out in order to meet the objectives of an organisation. Rules, roles, and obligations may be a part of these activities.
How information is transferred across layers of the organisation is likewise governed by its organisational structure. A centralised structure, for instance, makes choices from the top down, whereas a decentralised structure distributes decision-making authority among different organisational levels.
Companies may stay effective and focused by using an organisational structure.Organizational structures are widely used by businesses of all types and sizes. They specify a certain organisational hierarchy.
Each employee's role is described in a good organisational structure, along with how it fits into the larger system. Simply put, the organisational structure establishes who is responsible for what so the business can achieve its goals.
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Harriet Marcus is concerned about the financing of a home. She saw a srfall cottage that sells for $48,000. Assuming that she puts 20% down, what will be her monthly payment and the total cost of interest over the cost of the loan for each assumption? (Use the Table 15.1a) and Table 15.30.)(Round intermediate calculations to 2 decimal places. Round your final answers to the nearest cent.) Monthly payment Total cost of Interest a. 25 Years, 11.5% b. 25 Years, 12.5% c. 25 Years, 13.5% d. 25 Years, 15% e. What is the savings in Interest cost between 11.5% and 15%? (Round intermediate calculations to 2 decimal places. Round your answer to the nearest dollar amount.)
Answers
The savings in interest cost between 11.5% and 15% is $43,661.42.
Assuming she puts 20% down on the $48,000 cottage, she will need to finance $38,400. Using Table 15.1a and Table 15.30, we can calculate her monthly payment and total cost of interest for each assumption:
a. 25 Years, 11.5%:
- Monthly payment: $396.20
- Total cost of interest: $87,859.54
b. 25 Years, 12.5%:
- Monthly payment: $429.08
- Total cost of interest: $98,723.94
c. 25 Years, 13.5%:
- Monthly payment: $463.25
- Total cost of interest: $110,392.74
d. 25 Years, 15%:
- Monthly payment: $511.34
- Total cost of interest: $131,520.96
To calculate the savings in interest cost between 11.5% and 15%, we can subtract the total cost of interest for option a from the total cost of interest for option d:
$131,520.96 - $87,859.54 = $43,661.42
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Insurance is _____________ when the possible loss is relatively large compared to the amount of the premium.
Answers
Using economic understanding, insurance is "Economically feasible" when the possible loss is relatively large compared to the premium amount.
This is because when an individual insured on a premium account loses huge properties that are considerably large compared to the premium paid, this is economically feasible to such an individual.
For example, if an individual has his vehicle worth $1 million on damaged but has only paid less than $100,000 as insurance fee, such individual would have his car replaced by the insurance firm, despite only paying 10 percent of the car price as insurance fee.
Thus, this situation is considered economically feasible.
Hence, in this case, it is concluded that the correct answer is "Economically feasible."
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: The SLM Co. is planning on investing in a new project. This will involve the purchase of some new machinery costing $350,000. The project is expected to generate cash inflows of $125,450 each year for 4 years. If the appropriate discount rate is 15.00%, what is the Internal Rate of Return (IRR) for this project? 24.30% O 21.00% O 13.45% 16.15% O 15.00%
Answers
The Internal Rate of Return (IRR) for this project is 24.30%.
To calculate the internal rate of return (IRR) for the project, we need to find the discount rate that makes the present value of the cash inflows equal to the initial investment.
Initial investment (Cost of machinery) = $350,000
Cash inflows per year = $125,450 for 4 years
Discount rate = 15.00% (0.15)
To calculate the IRR, we set up the following equation:
$350,000 = $125,450 / (1 + IRR)^1 + $125,450 / (1 + IRR)^2 + $125,450 / (1 + IRR)^3 + $125,450 / (1 + IRR)^4
We then solve this equation to find the IRR.
Using a numerical method or financial software, we find that the IRR for this project is approximately 24.30%.
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a plan pays 75 percent of the provider's usual charge and requires the copayment of $15 to be applied toward the provider's payment. calculate what the plan pays the provider when the usual charge is $380?
Answers
The provider's payment. calculate what the plan pays the provider when the usual charge is $270
What is provider's payment?
Provider Payment is any amount of money that our third-party service provider transports on your behalf to an before debiting your Payment Account to reimburse itself. Our third-party service provider makes each Provider Payment, not us (your bank), and your responsibility to reimburse only those Provider Payments is incurred and owed straight to the third-party provider (not to us). "Provider Payment" also includes any reimbursing checking account by the provider that could be reversed later. means paying providers inside a way that creates incentive schemes for efficiency in the delivery of high-quality, easily accessible health-care services through a standardised reimbursement strategy;
--The provider is paid $270 (380 x .75) - 15 = $270) by the plan
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A surface, such as a prep table, that touches food or from which food could drip or drain onto surfaces that touch food is
called a "food-splash surface."
True
False
Answers
Answer:
False
Explanation:
Food contact surface is what it is called
When the actual price in some market is above the equilibrium price, the resulting market condition is known as
Answers
When the actual price in some market is above the equilibrium price, the resulting market condition is known as Excess Supply.
What is an Excess Supply?An excess supply is a condition where there is a surplus of goods in the market. In this condition, the price would have tiled above the equilibrium curve.
Excess supply can also be known as surplus. When the actual price of a good is above the equilibrium price, there tends to be a condition called excess supply.
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an exchange rate system in which the government or central bank has agreed to convert its currency into another at a fixed rate is called a:
Answers
An exchange rate system in which the government or central bank has agreed to convert its currency into another at a fixed rate is called a fixed exchange rate system.
Currency refers to the system of money used as a medium of exchange in a particular country or region. It represents the units of value that are accepted as payment for goods, services, and debts. Currencies can take the form of physical objects, such as coins and banknotes, or they can be digital representations used for electronic transactions. Each currency typically has a unique code or symbol, such as USD for United States dollar or EUR for euro. Currencies are regulated by central banks and governments, which oversee their issuance, circulation, and monetary policies.
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Pilar Perez makes time and a half for hours over 40. How much additional pay
would she earn if she worked 65 hours?
Answers
Based on the amount that Pilar Perez makes in 40 hours, the additional pay she would earn if she worked 65 hours is $1,367.88.
How much would Pilar Perez earn?The amount that Pilar Perez earns per hour for 40 hours is:
= 17.65 x 40
= $706
Every hour over 40 hours is a time and a half so Pilar Perez makes:
= (65 - 40) x (17.65 x 1.5)
= 25 x 26.475
= $661.88
Total amount Pilar Perez makes is:
= 661.88 + 706
= $1,367.88
First part of the question is:
Pilar Perez is a truck driver. she earns $17.65 per hour
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Explain the importance of office for an organization long answer
Answers
Answer:
The answer to this question is given below in this explanation section.
Explanation:
" importance of office for an organization"
An office is the center point of organization.It is a place to perform different activities of a business organization.The office is the brain of the whole organization.The office performs a critical function such as information collection,collection,recording analyzing distribution of information and executive function such as planning,organization,policies formulation,decision making etc.
It is used by management for the purpose of planning,organizing,staffing,directing,and controlling.Office not only keep record of information but also pay the role of reliable channel of communication the information.It is required for smooth functioning of the organization.
Proper organisation facilities the intensive use of human capital.Organization stimulates creativity.By providing well defined areas of work and ensuring delegation of authority,Organization provides sufficient freedom to the managers and encourages their initiative,independent thinking and creativity.
which situation is an example of skimming?
a) pop-up windows on a computer asking for you pin
b) a retailer scanning your credit card to steal its number
c) bank statements stolen from your garbage
d) a phone call from someone pretending to be a bank employee
Answers
Answer:
B.) a retailer scanning your credit card to steal its number
Explanation:
On april 1, jiro nozomi created a new travel agency, adventure travel. The following transactions occurred during the company’s first month. On April 1 Jiro Nozomi created a new travel agency, Adventure Travel. The following transactions occurred during the company's first month. A. April 1 Nozomi invested $30,000 cash and computer equipment worth $20,000 in the company. Received common stock (50,000 shares at $1 par).
b. April 2 The company rented furnished office space by paying $1,800 cash for the first & last month's rent.
c. April 3 The company purchased $1,000 of office supplies for cash
Answers
These journal entries would then be posted to the appropriate accounts in the general ledger.Here are the journal entries for each of the transactions:
a. April 1:
Cash 30,000
Computer equipment 20,000
Common stock 50,000
To record investment of cash and equipment in exchange for common stock.
b. April 2:
Prepaid rent 1,800
Cash 1,800
To record payment of rent for the first and last month.
c. April 3:
Office supplies 1,000
Cash 1,000
To record purchase of office supplies for cash.
These journal entries would then be posted to the appropriate accounts in the general ledger.
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