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Ruby is the owner of all shares of an S corporation. Ruby is considering receiving a salary of $80,000 from the business. She will pay 7.65% FICA taxes on the salary, and the S corporation will pay the same amount of FICA tax. If Ruby reduces her salary to $40,000, and takes an additional $40,000 as a distribution, how much total tax could be saved?
There were no other transactions between the two companies. Ignoring income taxes, Mets' statement of income for the year ended December 31, 2011, should include "Income From Investment in Pirates Corporation Stock" in the amount of:
What are the eight steps in the accounting cycle and how do they affect the financial statements? What happens if one is missing?
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Determine the amount of retained earnings as of 12-31-2013 - create an accounting equation and record the beginning account balances under the appropriate elements.
How could a tax cut achieve the same result? Would the tax cut have to be larger than the increase in government purchases? Why or why not?
manner corporation is trying to determine how long it takes for one product to pass through the production process.
why are expenses paid for in advance reported as assets? what happens to this asset as time passes and what are the
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