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Bottle-Up, Inc., was organized on January 8, 2003, and made its S election on January 24, 2003. The necessary consents to the election were filed in a timely manner. Its address isXXXXX City, ST 33333. Bottle-Up uses the calendar year as its tax year, the accrual method of accounting, and the first-in, first-out (FIFO) inventory method. Bottle-Up manufactures ornamental glass bottles. It made no changes to its inventory costing methods this year. It uses the specific identification method for bad debts for book and tax purposes. Herman Hiebert and Melvin Jones own 500 shares each. Both individuals materially participate in Bottle-Up's single activity. Herman Hiebert is the tax matters person. Financial statements for Bottle-Up for the current year are shown in Tables C: 11-2 through C: 11-4. Assume that Bottle-Up's business qualifies as a U.S. production activity and that its qualified production activities income is $90,000. The S corporation uses the small business simplified overall method for reporting these activities (see discussion for Line 12d of Schedules K and K-1 in the Form 1120S instructions). Prepare a 2012 S corporation tax return for Bottle-Up, showing yourself as the paid preparer.
you obtained the following ratios for abc co for 2013abc coratiosindustrycurrent ratio2.1x2.7xinventory
Johnny's Pizza owes $40,000 to one of its suppliers. The supplier has offered a trade discount of 2/10 net 30. Johnny's can borrow the funds from one of two lenders. Lender 1 will fund for 20 days at a cost of 400$; Lender 2 offers a discount for ..
Use the information given below and consider portfolio weights of .60 in stocks and .40 in bonds. Determine the rate of return on the portfolio in each scenario?
Is there any conflict between the two capital budgeting techniques? What are, in general, the reasons for such a conflict?
a. If T-Bills currently offer a 5% yield, find the expected rate of return on this stick if the market views the stock as fairly priced.
What swap arrangement will convert the firm's borrowings to a synthetic fixed-rate loan? What interest rate will it pay on that synthetic fixed-rate loan?
Image Storage Corporation has #1,000,000 shares outstanding. It wishes to issue 500,000 new shares using rights issue. If the current stock price is $50 and the subscription price is $47/share, calculate the value of a right? a. 0.40/right b. 5.00..
After 11 years, the mine will be abandoned. Abandonment costs will be $114,000 at the end of year 11.
Find the financial statements for a publicly traded company, and calculate the company's z-score. Identify (approximately 100 words) whether you think the company is at risk for financial failure, based upon its z-score and other factors that you ..
While the period of analysis is 5 years, the alternative only provides benefits for the last 3 years. Calculate the uniform annual cost.
What financial basics should be considered when determining the most appropriate amount of short term borrowing
Calculate the duration of the following security: 1.25-year floating coupon paying float + 50 bps semiannually. You know that last quarter the semiannual rate was 6.4%.
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