Help needed on where to apply something in a formula.
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Please see attached file, very confused. Here are incomplete financial statements for Brandon, Inc. BRANDON, INC. Balance Sheet Assets Liabilities and Stockholders' Equity Cash $5,000 Liabilities Inventory 10,000 Accounts payable $5,000 Building 45,000 Stockholders' Equity Total assets $60,000
I need assistance in solving the two problems below: 1. Assume that a corporation has $100,000 of taxable income from operations plus $5,000 of interest income and $10,000 of dividend income. What is the company's tax liability? 2. Assume that you are in the 25% percent marginal tax bracket and that you have $5,000 to in
Why is the critical path not the shortest path through a network, as some people tend to believe?
Maggie Sharrer, a recent graduate of Rolling's accounting program, evaluated the operating performance of Poway Company's six divisions. Maggie made the following presentation to Poway's Board of Directors and suggested the Erie Division be eliminated. "If the Erie Division is eliminated," she said, "our total profits would inc
Bill is the sole shareholder of Rich Co., a regular corporation. The corporation has $2,050,000 of income prior to making any payments to Bill.
16. Identify the tax issue or issues suggested by the following situation. State each issue in the form of a question. Bill is the sole shareholder of Rich Co., a regular corporation. The corporation has $2,050,000 of income prior to making any payments to Bill.
3 Flo Choi owns a small business and manages its accounting. Her company just finished a year in which a large amount of borrowed funds was invested in a new building addition as well as in equipment and fixture additions. Choi's banker requires her to submit semiannual financial statements so he can monitor the financial he
Growth of Funds. If you earn 8 percent per year on your bank account, how long will it take an account with $100 to double to $200?
Myers Implements is attempting to develop and market a new garden tractor. Fixed costs to develop and produce the new tractor are estimated to be $10,000,000 per year. The variable cost to make each tractor has been estimated at $1,800.00. The marketing research department has recommended a price of $4,000.00 per tractor. (
1-1 What are some problems involved in the use of profit maximization as the goal of the firm? How does the goal of maximization of shareholder wealth deal with those problems? 1-7 Using the following criteria, specify the legal form of business that is favored: A-organizational requirements and costs. B-liability of the ow
1 - What is the accounting equation? What does it tell you? Why does it have to balance? What happens if the equation does not balance? 2 - What are debits and credits? How do debits and credits affect the accounting equation? Are debits always increases? Are credits always decreases? Why or why not?
Interest is compounded quarterly on a $12,000 note payable for 1 year at 12%. Calculate total interest on the note.
Please see the attached file. 1. Interest is compounded quarterly on a $12,000 note payable for 1 year at 12%. Calculate total interest on the note. a. $1,338. b. $1,286. c. $1,440. d. $1,506 2. Interest revenue for 120 days on a 6%, 180-day note receivable with a face value of $20,000 is a. $1,800. b.
Please, see attached and help me if possible. Thank you. ? Questions: 1-4 What are the three roles that management accountants perform? 1-10 What are three guidelines help management accountants provide the most value to managers? 2-3 Why do managers consider direct cost to be more accurate than indirect costs? 2-
1. Genera Corporation reported federal taxable income of $1,000,000. During the year it received $15,000 of interest income on Federal bonds, and paid $105,000 of state income taxes. Under the general definitions used in the text, what is Genera's state taxable income? Please list your reference page. Thanks.
If you are looking at tax issues relating to a liquidation, is it better to be an S corporation or a C corporation? Describe the pros and cons of each. Please include the reference pages. Many thanks.
Please help me to understand how to complete the following: Assuming that I am in the highest tax bracket of 39 percent. I know that this basically means that a taxpayer will pay 39 percent of his/her income to the government. An amount will be paid based on the portion of his/her income in each tax bracket up to total income
Please see the attachment. When a company recognizes depreciation on manufacturing equipment: a. Total assets increase. b. Total assets, equity, and net income decrease. c. Total assets, equity, and net income are not affected. d. None of the above. Western Company purchased direct materials on
Would you please explain how the following should be recorded? A building used for the primary work establishment which has a recurring payment as well as an additional interest payment? Vehicles used for business purposes which have recurring payments as well as an additional interest payment?
A company regularly sells TVs for $200. The following data per TV is based on full capacity of 12,00 TVs produced each period: Direct materials: $75 Direct labor: $55 Manufacturing overhead (76% variable and 25% unavoidable fixed): $48 The company received an order for a sale of 2,500 TVs to an overseas customer. The o
Athena Ltd is an engineering business sdoing work for its customers to their particular requirements and specifications
Please answer the attached question.
A comparation of the difference in total income tax for Georgia if her business was an S corporation as opposed to a C corporation with dividends/distributions.
I2-50 Computation of Tax. Georgia, a single taxpayer, operates a business that produces $100,000 of income before any amounts are paid to her. She has no dependents and no other income. She has itemized deductions of $18,000. Compute the total income tax that would be paid assuming the following additional facts. Ignore pa
For the following four cases, use the accounting equation to compute the missing quantity. Assets Liabilities Owners' Equity Case A $10,000 $ 4,000 A Case B 8,000 B $3,500 Case C C 5,500 7,000 Case D 13,000 15,000 D Using the following information, compute total current assets. Land $ 9,000
Hillside Company has an annual plant capacity of 3,000 units. Data concerning this product are given below: Annual sales at regular selling prices............ 2,500 units Manufacturing costs: Variable............................................... $20 per unit Fixed (annual)....................................... $75,
For my assignment I was asked to complete a journal for the Portand After School Program. I have completed it, but I know I did something wrong because when I try to do the second part which is a trial balance it is not balancing out right. Can some one please help me correct my mistakes? (a) July 1, 20XX? Received unrestr
EBIT-EPS and capital structure Data-Check is considering two capital structures. The key information is shown in the following table. Assume a 40% tax rate. Source of capital Structure A Structure B Long-term debt $100,000 at 16% coupon rate $200,000
Does operating in different states with different unitary definitions affect tax planning? How?
I have to do a paper for class and I need help finding two credible sources on the topic of plagiarism.
1. For tax purposes, what is the best form of business entity to have? Why? 2. Is a budget always necessary in business? Why or why not? 3. Is a budget always necessary in personal money management? Why or why not? 4. Should individuals be taxed the same as business entities? Why or why not?
Midwest Distributing Company completed these merchandising transactions in the month of April. At the beginning of April, the ledger of Midwest showed Cash of $9,000 and Common Stock of $9,000. Apr. 2 Purchased merchandise on account from Kane Supply Co. $6,300, terms 2/10, n/30 Apr. 4 Sold merchandise on account for $5,00
21. Employees at B Corporation are paid $5,000 cash every Friday for working Monday through Friday. The calendar year accounting period ends on Wednesday, December 31. How much salary expense should be recorded two days later on January 2? a. $5,000 b. $3,000 c. None, matching requires the weekly salary to be accrued on Decem