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Question - Quality Coffee S.A., is a corporation organized in Mexico. It is not a bank and is not engaged in a U.S. trade or business.
Major Banco S.A., is a corporation organized in Brazil. It is a bank that conducts all forms of normal banking business, but is not engaged in a U.S. trade or business.
Major Banco made a 10-year loan of $5 million Quality Coffee. Major Banco does not own any equity interest in Quality Coffee. What is the U.S. tax consequence to Major Banco on $200,000 of interest income received from the loan made to Quality Coffee?
a) The $200,000 of interest income is subject to U.S. net income tax
b) The $200,000 of interest income is subject to gross U.S. withholding tax at 30%
c) No U.S. tax because the interest is paid by a non-U.S. corporation
d) No U.S .tax because paying U.S. tax is voluntary
Which method, FIFO or LIFO, produced the larger amount of assets on the balance sheet?
Show calculations to determine the break even revenues for 2020, if variable costs are at 70% and 60% of revenues as per options 1 and 2
Prepare an incremental analysis for the life of the machines showing whether the company should replace the equipment
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Selling price is $90/unit, VC are $63/unit, fixed costs are $540,000. You are currently selling 26,000 units, what is your margin of safety in sales dollars
How thw Financial ratios are used:- By taxation auihorities to determine the amount of tax payable, By management for planning and control
Construct the company's direct labor budget for the upcoming fiscal year, assuming that the direct labor workforce is adjusted each quarter to match the number of hours required to produce the forecasted number of units produced.
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Are these added to the initial cost? Likewise, the item has annual operating revenue of 2M but also incurs 400K in operating expenses, annual fee of 5K for environmental impact.
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