What is the due date of the election

Assignment Help Accounting Basics
Reference no: EM133094964

Question - Genesis Corporation was formed in June of the current year and commenced operations on June 22. If Genesis wishes to make an S corporation election effective for its first taxable year, what is the due date of the election?

a. March 15 of the current year

b. September 5 of the current year

c. October 15 of the current year

d. March 15 of the next year

Reference no: EM133094964

Questions Cloud

Identify and describe the issues or challenges in the case : Identify and describe the issues or challenges presented in the case and Describe how these three (3) noted principles/concepts are linked to each other
Describe system conversion : Describe TQM, Six Sigma and CMM (CMMI). Describe System Conversion. What are Service-Oriented Architectures? Describe how Systems are Distributed.
Should Irvine close its Wallpaper department : The space vacated by the Wallpaper department can be remodeled at a cost of $12,400. Should Irvine close its Wallpaper department
Various attacks from hackers : Databases are subject to various attacks from hackers. One of the most dangerous is SQL Injection.
What is the due date of the election : If Genesis wishes to make an S corporation election effective for its first taxable year, what is the due date of the election
Explore how ethical roots in organizational culture affect : Explores how ethical roots in organizational culture affect the behaviour of accountants. The study also examined the impact of personal attitudes on accountant
What the entry or entries that Ferguson must make on July : The selling price of the merchandise is $500 and the cost of the merchandise returned is $350. What the entry or entries that Ferguson must make on July 5
Compute depreciation for each year : Compute depreciation for each year (and total depreciation of all years combined) for the machine under each depreciation method
Determine the change in the company NOI : If Kingcade Corporation eliminates the entire B17 product line to increase unit sales of A23s by 1,600 units per year, determine the change in the company's NOI

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

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!

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