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Robin Corporation would like to transfer excess cash to its sole shareholder, Adam, who is also an employee. Adam is in the 28% tax bracket, and Robin is in the 34% bracket. Because Adam's contribution to the business is substantial, Robin believes that a $25,000 bonus in the current year is reasonable compensation and should be deductible by the corporation. However, Robin is considering paying Adam a $25,000 dividend because the tax rate on dividends is lower than the tax rate on compensation. Is Robin correct in believing that a dividend is the better choice? Why or why not?
Based on this information, do you believe ABC's increase in operating income in 2014 is consistent with the strategy you identified in part a
linus inc. has budgeted overhead for august of 260000 for variable costs and 435000 for fixed costs. actual costs for
Is it ethical to choose a transfer price for tax purposes that is different from the transfer price used to evaluate a business unit's performance?
Compare copper and aluminum as the materials for ordinary utility conductors to be used in construction and all types of machinery. Use the cost data for metals from today's wall street journal, where the price of copper is given in $/lb and the pric..
The following transactions relate to the stockholders' equity transactions of Wagner Corporation for its initial year of existence. Feb. 28 40,000 shares of common stock are issued for $14 per share.
identifying which variable is believed to be the best selection for a cost driver and how such cost driver is
Wheeler Corporation produces and sells special eyeglass straps for sporting enthusiasts. For the year, the company budgeted for production and sales of 1,200 straps. However, the company produced and sold just 1,100 straps.
Did the bookkeeper correctly record the client’s deposit? What would you do as controller for the firm? Do you have a responsibility to do anything to correct the books? Explain your answer.
Which of the following formulas should be used to allocate variable costs from service departments to user departments? The phrase "cost allocation" refers to the allocation of total department costs to, If a department identifies more than one cost ..
Calculate diluted earnings per share for 2012, assuming the same facts as above, except that $1,000,000 of 6% convertible preferred stock was issued instead of the bonds. Each $100 preferred share is convertible into 5 shares of Lindsey common sto..
Calculate cost per equivalent unit for each cost category, and assign total costs to units completed and transferred out (including normal spoilage), to abnormal spoilage , and to units in ending work in process
This step in the audit process seeks to ascertain that control policies and procedures are operating effectively. What specific tests of controls might auditor have performed in evaluating this payroll system?
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