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An intersting point to not is that there is a difference in the tax treatment of income from Limitied Liability Companies (LLCs) and Corporations. What is this difference and what is the double taxation issue with corporation profits?
Prepare a report on the History of International Accounting Standard
for each of the following ratios provide a definition a calculation and a discussion of how the ratio is used in
Nancy gave her grandson, Sean, twenty acres of land. Her tax basis in the land was $25,000. Nancy's marginal tax rate for the current year is 45%; her grandson's is 25%.Its fair market value was $575,000 at the date of the transfer.
on january 1 2009 pink company finished consultation services and accepted in exchange a promissory note with a face
(b)Assume that the conditions are met for the transfer of receivables with recourse to be accounted for as a sale. Prepare the journal entry on August 15, 2014, for Beyoncé to record the sale of receivables, assuming the recourse liability has ..
the management of rockos pizzeria is considering a special promotion for the last two weeks of october which is
The owner's equity in a business amounted to $56,000 at the beginning of the year and $100,000 at the end of the year. The owner had made no additional investments and had withdrawn $19,000 during the year. The net income for the year amounted to ..
Presented below are a number of accounting procedures and practices in Sanchez Corp. For each of such items, list the assumption, information characteristic, principle, or modifying convention that is violated.
Market conditions are such that sales made internally or externally will not affect market or transfer prices. Intermediate markets will always be available for Bayside, Cole, and Diamond to purchase their manufacturing needs or sell their product..
After selling the assets and paying the liabilities, the partnership has cash of $92,000. How much cash will each partner receive in the final liquidation?
during september 2012 the business completed the following transactionsa. issued common stock and received cash of
How much gross profit is recognized using percentage of completion method in 2012 and 2013
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