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Question - A corporation's retained earnings are the portion of profits not distributed to shareholders as dividends. Over time, these retained earnings can accumulate. The IRS permits a corporation to retain excess earnings only for expansion or other necessary business reasons; however, if the corporation allows earnings to accumulate beyond reasonable business needs, it will be subject to an accumulated earnings tax (AET) penalty. According to the course text, this accumulated earnings tax is designed to encourage a corporation to distribute any excess profits so that shareholders will incur tax liabilities for dividends. Consider the following questions: What is the impact of accumulated earnings tax on corporations? Should the government change its policies on excess retained earnings?
Yowell Company began operations on January 1, Year 1. Paid rent expense for $16,000. What is Yowell's net income for Year 1
What method for depreciation does WAG use and is this method generally accepted? Calculate the amount of 2011 depreciation expense that WAG recorded on the old computer equipment and on the new computer equipment. Which aspect(s) of WAG's accounting ..
What are some of the groups that need accounting information? What kind of accounting information do they need? Why?
Discuss the variety of ways medical insurance plans process claims and its implications.
Justin and Tiffany form the equal TJ Partnership, Justin contributes cash of $20,000 and land (fair market value of $80,000, adjusted basis of $65,000), and Tiffany contributes the assets of her sole proprietorship (value of $100,000, adjusted bas..
1. when a companys activities involve production through natural growth or aging of biological assets plant or living
What is accrual accounting? Explain "adjusting entries". Why are "adjusting entries" necessary? Give some examples of adjusting entries
For each of these, indicate whether the activity is investing (I) or financing (F) and the direction of the effect on cash flows
To better evaluate the solvency of a company, an analyst would most likely add to total liabilities A. the present value of future capital lease payments.
1. Sandra Pilsden, the Vice-President for Human Resources in Learning, Inc. was concerned about a recent memo she had recently received from the CEO's office regarding the possibility of outsourcing the payroll function to Salary Experts, a growin..
Which pair of accounts follows the rules of debit and credit, in relation to increases and decreases, in the same manner?
What should be the adjusted balance of Allowance for Doubtful Accounts at December 31, 2012
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