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Evon would like to organize SHO as either an LLC or as a C corporation generating a 9 percent annual before-tax return on a $200,000 investment. Assume individual and corporate tax rates are 35 percent and individual capital gains and dividend tax rates are 15 percent. SHO will pay out its after-tax earnings every year as a dividend if it is formed as a corporation. Assume Evon is the sole owner of the entity and ignore self-employment taxes. a. How much would Evon keep after taxes if SHO is organized as either a C corporation or an LLC?
Explain how much gross profit should be reported for 2011? Make the journal entry to record the revenue and gross profit for 2011.
What level of sales dollars is needed for a monthly profit of $60,000? For the month of July, the marina anticipates sales of $1,000,000. Illustrate what is the expected level of profit?
Multiple choice questions on budgetary control system - The cash budget is usually prepared before the production budget.
The applicable corporate tax rate is 40%, and the firm’s WACC is 12%. Yje old machine has been fully depreciated and has no salvage value. Should old riveting machine be replaced by the new one?
What is the net present value of the investment? Round to the nearest dollar. and Should the robot be acquired by the firm? Explain.
The amount of the gift was $30,000. Gift taxes of $10,000 were paid. Evaluate Emma's adjusted basis in the necklace?
Good accounting systems help in managing cash and controlling who has access to it. Illustrate what items are included in the category of cash?
Decision making as to process further or sale out - Should MSB and CBL be processed further or sold immediately after initial milling
Accounting for bond related transaction through journal entries and Purpose the journal entries to record the conversion, amortization, and interest in connection with the bonds as of the following dates.
Investigate how the concepts of dividend policy, cost of capital, and other aspects of corporate financial management theory learned in this course affect the financial profile of the firm your group has selected.
What amount should appear in the allowance for doubtful accounts in the December 31, balance sheet for the current year and How are the direct write-off method and the allowance method applied in accounting for uncollectible accounts receivables?
federal unemployment compensation taxes are $5,250. at the federal rate of 0.8% and state rate of 5.4%. Create the journal entry to record the payroll tax expense for the period.
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