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Kaycee Corporation's revenues for the year ended December 31, 2008, were as follows: Consolidated Revenue per the Income Statement: $1,200,000 Upstream Inter-segment Sales: $180,000 Downstream Inter-segment Sales: $60,000 For purposes of the Revenue Test, what amount will be used as the benchmark for determining whether a segment is reportable?
One way to avoid part of this: Use an S corporation, and don't pay yourself too much. Maybe pay yourself $50,000, and take the other $40,000 as a pass-through profit from your S corp. It will not be subject to the FICA tax, saving 15.3% of the tax..
Prepare the required journal entries for the following unrelated items. A 5% stock dividend is declared and distributed at a time when the market value of the shares is $39 per share.
Illustrate what is the price of this stock today given a required return of 12 percent? Your tax rate is 31 percent and your required return on this project is 11 percent. What bid price per stamp should you submit?
It is virtually certain that material costs will be incurred but the amount of resultant costs cannot be adequately predicted.
Only one asset was sold during the year and Donna does not ahve any capital loss carryovers. Illustrate what is the amount of Donna's tax liability? What is thea mount of Donna's tax liability if the stock is held for 11 months?
a firm that sells a single product had a beginning inventory of 4000 units with a total cost of 28,000. early in the year, 10000 units were purchased at $9 each, using FIFO what is the value of the ending inventory of 3000 units?
Cash flows from operating activities and Net income will be increased or adjusted upward and Net income will be decreased or adjusted downward.
Is the $18,000 expenditure deductible or nondeductible? Including proper citations to relevant authority.
Due to an error, no depreciation was taken on this machine in 2010. Doe discovered the error in 2011. Illustrate what amount should Doe record as depreciation expense for 2011? The tax rate is 40%.
Make a reconcilliation of Master Budget Operation Income, Flexible Budget Operating,and Actual Operating Income. Your reconcilliation should be properly headed and presented
Create he journal entry to record the purchase of treasury stock by the cost method. 5,000 shares of treasury stock are reissued at $33 per share. Prepare the journal entry to record the reissuance by the cost method.
John thinks the losses were particulary large because his company has too much fixed assets. Expand on johns thoughts. Explain how the large bosses related to fixed costs? identify a way that john can turn potential fixed costs into variable costs
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