User Account

All Pages

What is blue inc excess net passive income

Assignment Help Accounting Basics
Reference no: EM133168974

Question - Blue, Inc. is an S Corporation that has earnings and profits from prior years when it was a C corporation. In the current year, Blue, Inc. has $200,000 of sales, $150,000 of cost of goods sold, $60,000 of interest income, and $40,000 of dividends. What is Blue, Inc.'s excess net passive income?

A. $0

B. $25,000

C. $75,000

D. $100,000

Reference no: EM133168974

Questions Cloud

Controlled by the system administrator : What settings should you allow users to change, and what settings should be controlled by the system administrator? What are the advantages and disadvantages?
Determine the zippy chip taxable income : Zippy Chip has a $10,000 long-term capital gain and a $17,000 short-term capital loss. Determine the Zippy Chip's taxable income
Cybersecurity software : During job interviews, employers often ask if you are familiar with cybersecurity software. Describe the process to install, set up, and configure the tool you
Differences between direct and indirect costs : Explain the differences between direct and indirect costs. In addition, discuss why these costs are important to determine the return on assets
What is blue inc excess net passive income : Blue, Inc. is an S Corporation that has earnings and profits from prior years when it was a C corporation. What is Blue Inc excess net passive income
What is the additional operating income : Company B offers to buy an additional 19,000 toys but is only willing to pay $8 per toy. What is the additional operating income (loss) of accepting the offer
What is the impact of the identified errors : Show the impact of the analysis you have performed within task 3 on the materiality. What is the impact of the identified errors
What is the internal rate of return on the investment : Burgundy is contemplating what for the company is an average-risk investment costing $38 million. What is the internal rate of return on the investment
Relationship between CIRT plan and risk management : Discuss the relationship between a CIRT plan and risk management. Describe the purpose and primary elements of a CIRT plan.

Reviews

Write a Review

Accounting Basics Questions & Answers

  What are the joint hypotheses being tested

For many of the EMH tests, it is really a test of a "joint hypothesis'. Discuss what is meant by this concept. What are the joint hypotheses being tested

  Matter of accountability

Classify the controls that you just identified above as either preventive, detective, or corrective controls. How does the matter of accountability (tracing transactions to specific agencies) affect the problem?

  Compare job-order and process costing systems

Compare and contrast job-order and process costing systems. How can events in a job-order costing system affect financial statements

  Prepare the journal entry for Arctic to record the sale

Assume the note indicates that Seneca is to pay Arctic the $39,600 due on the note on December 31, 2021. Prepare the journal entry for Arctic

  Find how is the iability allocated

Find How is the $300,000 liability allocated? The equal AB partnership's only asset is Building #1, which has a fair market value of $800,000

  Calculate the first year net income

In its first year of operations, Harden Con. earned $39,000 in revenues and received $33,000 cash from these customers. The company incurred expenses of $22,500 but had not paid $2,250 of them at year-end. The company also prepaid $3,750 cash for ..

  Prepare a general ledger for frostburg company

The equipment was exchanged for new machinery having a fair value of $35,000. The transaction has commercial substance. Prepare a general ledger

  Determine the contribution margin per machine hour

Xcelerate Productions Limited manufactures and sells three different products of different qualities. Determine the contribution margin per machine hour

  Journal entries for issuance-first years interest payments

Calculate the issue price of a $1,500,000 bond issue and prepare the journal entries for the issuance and first years' interest payments (use the effective interest method). Assume the bonds are paid semiannually (June 30 and December 31).

  What is the present value of this annuity

The term of this annuity is ten years and the interest rate is 9,65% per year, compounded monthly. What is the present value of this annuity

  Characteristics to the most profitable customers

Northwest Airlines applied mathematical models to determine which customers in its database were currently responsible for most of its profitability and which customers were not currently profitable but had similar characteristics to the most prof..

  Describe actions that managers might take to show

concerned with the productivity of some employees the board of directors of a large multinational corporation has

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd