Which of the following is a tax deductible expense?
A) Repayment of the principle portion of a loan
B) Dividends
C) The purchase of inventory
D) Depreciation
A
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Cleary, Wasser, and Nolan formed a partnership on January 1, 2017, and made capital contributions of $100,000 (Cleary), $150,000 (Wasser), and $200,000 (Nolan), respectively. With respect to the division of income, they agreed to the following: (1) interest of an amount equal to 10% of the that partner's beginning capital balance for the year; (2) annual compensation of $10,000 to Wasser; and (3) the remainder of the income or loss to be split among the partners in the following percentages: (a) 20% for Cleary; (b) 40% for Wasser; and (c) 40% for Nolan. Net income was $150,000 in 2017 and $180,000 in 2018. Each partner withdrew $1,000 for personal use every month during 2017 and 2018.What was Cleary's total share of net income for 2017?
A. $58,000. B. $63,000. C. $29,000. D. $53,000. E. $51,000.
A study by the American Institute of Plant Engineers showed that there was no correlation between an increase in the commitment to safety by managers and a decrease in accidents.
Answer the following statement true (T) or false (F)
Rewards should be based upon _____ to encourage the desired behavior.
a. seniority b. results c. attitude d. morale
Criner Inc. reported the following results from last year's operations:?Sales$16,100,000 ?Variable expenses12,330,000?Contribution margin3,770,000?Fixed expenses3,126,000?Net operating income$644,000 ?Average operating assets$7,000,000 At the beginning of this year, the company has a $1,800,000 investment opportunity with the following characteristics:?Sales$1,980,000 ???Contribution margin ratio30%of sales?Fixed expenses$475,200?Required:1. What was last year's return on investment (ROI)? (Round to the nearest 0.1%.)2. If the company pursues the investment opportunity and otherwise performs the same as last year, what will be the overall ROI will this year? (Round to the nearest 0.1%.)
What will be an ideal response?