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Problem - Village Corp., a calendar year corporation, began business in year 1. Village made a valid S corporation election on December 5, year 4, with the unanimous consent of its shareholders. The eligibility requirements for S status continued to be met throughout year 5. On what date did Village's S status become effective?
a. January 1, year 4
b. January 1, year 5
c. December 5, year 4
d. December 5, year 5
Why is it important to disclose non-cash transaction? Explain.
fixed asset records of palmettos ltd. and of dec. 31 2013carrying value euro105000 selling
The federal budget deficit in 2015-16 was $39.4 billion, which was 2.4% GDP. Is this expansionary or contractionary fiscal policy
Preferred Stock, $1,500; Common Stock, $1,300; Additional Paid-in Capital, $17,800; Prepare the stockholders equity section of the balance sheet
What were total current assets? What were total current liabilities? What were total assets and total stockholder's equity (deficit)?
Question - Preparing an income statement, retained earnings statement, and balance sheet for the following in excel
The popular response encouraged him to create a website and start a mail-order business. He outsources some of the printing responsibilities, and hired someone part time to help him ship out his work to website-based customers.
The marketing manager wants to set a profit target of $10,000,000. How many wallets must they sell to wholesalers to achieve this target
It expects to consume the equipments future economic benefits evenly over the useful life. The company has a December 31 year
If I can reduce my costs by $40,000 during this last quarter, my division will show a profit that is 10% above the planned level, and I will receive a bonus of $10,000.
Suppose next year the Baldwin Company generates $44,200 in net profit, pays $12,000 in dividends, total assets increase by $55,000, and total liabilities remain unchanged. What will ending Baldwins balance in Common Stock be next year
He has 22,000 units of finished goods on hand and wishes to have an ending inventory of 24,000 units. How many units must he budget for production this period
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