Gator inc. reported taxable income of $900,000 this year and paid federal income taxes of $189,000. included in the company’s computation of taxable income is gain from the sale of a depreciable asset of $50,500. the income tax basis of the asset was $101,000. the e& p basis of the asset using the alternative depreciation system was $186,500. compute the company’s current e& p. (negative amounts should be indicated with a minus sign.)

Aquatic marine stores company manufactures special metallic materials and decorative fittings for luxury yachts that require highly skilled labor. aquatic uses standard costs to prepare its flexible budget. for the first quarter of the year, direct materials and direct labor standards for one of their popular products were as follows: direct materials: 3 pounds per unit; $ 6 per pound direct labor: 4 hours per unit; $ 19 per hour during the first quarter, aquatic produced 5 comma 000 units of this product. actual direct materials and direct labor costs were $ 65 comma 000 and $ 330 comma 000, respectively. for the purpose of preparing the flexible budget, calculate the total standard direct materials cost at a production volume of 5 comma 000 units.

The sec has historically raised questions regarding the independence of firms that derive a significant portion of their total revenues from one audit client or group of clients because the sec staff believes this situation causes cpa firms to

Why is efficiency an important economic goal?