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Question - In 2019, a single person operates a business as a sole proprietorship. The business sells hammers on the internet. The business has revenues of $550,000 and expenses of 350,000, which includes $90,000 of wages. The individual also has a part-time job and earns $20,000. The individuals average tax rate is 24%, and the corporate tax rate is 21%. business operates as a C corporation, what is the 2019 tax liability?
A. $48,000
B. $42,000
C. $46,200
D. $40,000
Prepare a perpetual inventory record for the merchandise inventory using the FIFO inventory costing method
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Forchen, Inc., provided the following information for two of its divisions for last year: Calculate residual income for the Small Appliances Division. Calculate residual income for the Cleaning Products Division
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