Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
1. To qualify as an S corporation there is no limit to the number of shareholders.2. A corporation with more than 50 shareholders will not qualify for the S election.3. Ace Trucking Co., Inc. is chartered in Michigan. It has 100 shares of common stock and 200 shares of preferred stock outstanding which are held by three individuals who also live in Michigan. The corporation owns no subsidiaries.This corporation qualifies for the S election.4. A corporation with two classes of stock cannot qualify under Subchapter S for the election not to be taxed.5. If a corporation fails to make a timely S election, an extension of time to make the election may be granted.6. A calendar year corporation that meets certain requirements and wishes not to be taxed as a corporation for 2013 must make an S election 7. An S corporation cannot be subject to an income tax.8. An electing S corporation is entitled to the dividends received deduction.9. A shareholder's stock basis in an S corporation is increased by his or her share of the corporation's separately stated and non-separately computed items of income.10. If a shareholder of an S corporation has a tax year different from that of the corporation, he or she must report any distributions of current year's taxable income in the year he or she actually receives the distribution.11. Any incorporated business can elect to be taxed as an S corporation.12. Since S corporations are corporations, they are subject to the accumulated earnings tax, personal holding company tax, and alternative minimum tax.13. A corporation cannot elect S status if it has as a shareholder a corporation or partnership.14. A corporation that wants to elect and retain S corporation status can at no time have 100 shareholders.15. All members of the same family are treated as one shareholder in an S corporation.16. A corporation cannot qualify as an S corporation if it has more than one class of stock.17. A corporation eligible to be an S corporation is automatically treated as such by the IRS.18. A corporation's S status can only be terminated by having all shareholders revoke the S election.19. Once filed, an S corporation cannot rescind a revocation.
An asset used in a four-year project falls in the five-year MACRS class for tax purposes. The asset has an acquisition cost of $6,020,000 and will be sold for $1,220,000 at the end of the project. If the tax rate is 35 percent, what is the afterta..
The project is estimated to generate $2,010,000 in annual sales, with costs of $705,000. If the tax rate is 34 percent, what is the OCF for this project?
What method did you use to make your estimates in "a" and "b" above? Are there any other possible methods that can be used? If so, state the advantages of each.
On April 30, 2010, one year before maturity, Red Products, Inc. retired $150,000 of 8% bonds payable at 103. The book value of the bonds on April 30 was $144,600. Bond interest was last paid on April 30, 2010. What is the gain or loss on the retir..
What are unique risks associated with foreign investments? How might an investor protect his/her portfolio against these risks? Is it possible to protect a portfolio from all types of risk? Explain your answer.
Describe the specialization or research interest you desire to pursue if accepted. What are your personal and professional goals?
Mario's tireland makes a product that sells for $65 per unit and has $50 per unit in variable costs. Annual fixed costs are $24,000. If Rambles sells 10 units less than breakeven, how much loss would the company recognize on its income statement?
What is the company cost of capital? What is the after-tax WACC, assuming that the company pays tax at a 35% rate?
Upon reviewing total debt/equity ratios, company betas, profitability ratios, company revenue, assets, and liabilities, and the nature of the operations of the companies including the nature of their customers and products.
A Corporation stock is selling for $78. The next annual dividend is expected to be 2.70. The growth rate is 9 percent. The flotation cost is 5.00.
Using the free cash flow method of valuation, an analyst determines the value of Company A's stock to be $10 and the value of Company B's stock to be $14. Based on this information, which of the following statements is most accurate?
Williams Oil Company had a return on stockholders' equity of 18 percent during 2010. Its total asset turnover was 1.0 times, and its equity multiplier was 2.0 times. Calculate the company's net profit margin.
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd