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    A corporation's board of directors has unilateral power ...

    Absent a specific provision in its articles of incorporation, a corporations board of directors has the unilateral power to do all of the following, except: a) repeal the bylaws b) declare dividends c) fix compensation of directors d) amend the articles of incorporation

    On dissolution of a general partnership, distributions ...

    On dissolution of a general partnership, distributions will be made on account of I) Partners Capital Accounts II) Amounts Owed Partners with respect to profits III) Amounts Owed Partners for loans to the partnership in the following order a) III, I, and II b) I, II, and III c) II, III, and I d) III, II, I

    Comprehensive Accounting Problem

    Miller Design Studio's July 31, 2011 trial balance is presented here: Miller Design Studio Post-Closing Trial Balance July 31, 2011 Cash $22,480 Accounts Receivable

    Corporate taxes Tantor Supply, Inc.

    Corporate taxes Tantor Supply, Inc., is a small corporation acting as the exclusive distributor of a major line of sporting goods. CORPORATE TAX RATE SCHEDULE $0 - $30,000 15% $30,000 - $50,000 25% $50,000 - $75,000 34% $75,000 - $100,000 39% Over $100,000 34% Tantor Supply, Inc., is a small corporation acting as the e

    Taxes on Capital Gains

    An investor is in the 33 percent tax bracket and pays long-term capital gains taxes of 15 percent. What are the taxes owed (or saved in the cases of losses) in the cur- rent tax year for each of the following situations? 1. a) Net short-term capital gains of $3,000; net long-term capital gains of $4,000 2. b) Net short-ter

    EPS: stockholder's equity section of Tkachuk Corporation

    E5-11 The stockholder's equity section of Tkachuk Corporation appears below as of December 31, 2008. 8% preferred stock, $50 par value, authorized 100,000 shares, outstanding 90,000 shares $4,500,000 Common stock, $1.00 par, authorized and issued 10 million shares

    Units of Each Product to Achieve Required Income After-Tax

    Received the following Information: Company. sells 4 different products in a mix of 9:5:4:2 respectively. The sales prices, respectively, are $13, $17, $10 and $12. Product A has variable costs of $8 and product B of $12. The contribution margin percentage for C is 40% and for D 25%. Fixed costs are $460,000. In the coming ye

    Commercial Paper Article Of The UCC

    Under the commercial paper article of the ucc, which of the following circumstances would prevent a promissory note from being negotiable a) an extension clause that allows the maker to elect to extend the time for payment to a date specified in the note b) an acceleration clause that allows the holder to move up the matur

    Buffet's requirement to be capital efficient

    The best investor of all time, Warren Buffet, talks about investing in "capital efficient" businesses. Coca Cola falls into this category since it generates great sums of cash with minimal investment in capital. It also pays dividends. The story goes Buffet purchased a "gazillion" shares of coke in the crash of '87 and despite s

    The Interest Tax Shield

    Why is it important to calculate the value of the interest tax shield if a firm adjusts its debt annually to a target level?

    ROI Improves Division but Not Overall Corporation

    Describe the specific actions that division managers might have taken to cause the ROI to increase in each division but decline for the corporation. Illustrate your explanation with appropriate examples.

    Features common to gift tax formula and the estate tax formula

    1. Identify the features common to the gift tax formula and the estate tax formula. 2. What is the lifetime gift tax exemption in tax year 2012? What is that exemption amount in 2013? 3. What is gift tax? Identify two types of transfers (for inadequate consideration) that are specifically excluded from imposition of the gift

    Golden Gate Construction Associates

    Golden Gate Construction Associates, a real estate developer and building contractor in San Francisco, has two sources of long-term capital: debt and equity. The cost to Golden Gate of issuing debt is the after-tax cost of the interest payments on the debt, taking into account the fact that the interest payments are tax deducti

    Suburban Lifestyles ROI residual income

    Suburban Lifestyles, Inc. has manufactured prefabricated houses for over 20 years. The houses are constructed in sections to be assembled on customers' lots. Suburban Lifestyles expanded into the precut housing market when it acquired Fairmont Company, one of its suppliers. In this market, various types of lumber are precut into

    division's ROI

    Explain three ways a Division manager could improve the division's ROI. Use numbers to illustrate these possibilities.

    This post addresses Closet Inc. and passive activity losses.

    Scenario: Let's say for example, Closet, Inc. was a closely held C corporation involved in the real estate rental business in 2010. The company had $3.5 million in passive activity losses. In 2011, Closet, Inc. elected to be taxed as an S corporation, and the company sold a number of rental properties. Can Closet, Inc. c

    Sarah Goldberg

    Sarah Goldberg, the company's CEO, has been concerned about the consistent losses with their newest location and is considering elminating it. Should Big Kahuna elminate the Park Lane location? Why or why not? Answer A. The Park Lane location should be kept open because its unavoidable expenses would cause the company to e

    Common sizing horizontal vertical analysis: questions

    QUESTIONS ____Which of the categories shows the largest percentage increase from the base period to 2011? ____Which of the categories shows the smallest percentage increase from the base period to 2011? ____What overall assessment can be made from the trend analysis regarding Gleason Company? ____If the current trend conti

    Price variance

    The Elm Institute makes portable tents for hikers. Their tents have a standard materials usage of 4 yards of cloth per tent at $7.00 per yard. During the month, 2,400 yards of cloth were purchased at $7.30 per yard. Production for the month produced 550 tents and used 2,100 yards of cloth. Please compute the materials price vari

    Profit

    Laurie Kahala just received an opportunity to lease and install a self-photo booth at a local mall. The booth would allow people to sit down, swipe their credit cards and take a set of ten high quality photos in one sitting. The combined lease (some payable to the mall, and the rest to company that owns the photo booth) would b

    What is the target price per unit?

    Travis Corporation sells a product for $100 per unit. Its market share is 32 percent. The market share can be increased to 40 percent with a reduction in price to $87. The product is currently earning a profit of $23 per unit. The president of Travis Corporation feels that the company needs to maintain the same profit level per

    Units Currently Sold: Travis Corporation

    Travis Corporation sells a product for $100 per unit. Its market share is 32 percent. The market share can be increased to 40 percent with a reduction in price to $87. The product is currently earning a profit of $23 per unit. The president of Travis Corporation feels that the company needs to maintain the same profit level per

    Legality of Oral Agreements

    I need some help with the following scenario: Gray Fabricating Co. and Pine Corp agreed orally that Pine would custom manufature a processor for Gray at a price of $80,000. After Pine completed the work at a cost of $60,000, Gray notified Pine that the processor was no longer needed. Pine is holding the processor and has req

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