Business, 20.12.2019 03:31 shantejahtierr3754
Volunteer corporation reported taxable income of $500,000 from operations for 2010. the company paid federal incometaxes of $170,000 on this taxable income. during the year, the company made a distribution of land to its sole shareholder, rocky topp. the landâs fair market value was $75,000 and its tax and e& p basis to volunteer was $25,000. rocky assumeda mortgage attached to the land of $15,000. any gain from the distribution will be taxed at 34 percent the company hadaccumulated e843 of $750,000 at the beginning of the year. a. compute volunteerâs total taxable income and federal income tax paid as a result of the distribution. b. compute volunteerâs current e& p for 2010.c. compute volunteerâs accumulated e& p at the beginning of 2011.d. what amount of dividend income does rocky report as a result of the distribution? e. what is rocky's income tax basis in the land received from volunteer?
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Business, 22.06.2019 09:30
An object that is clicked on and takes the presentation to a new targeted file is done through a
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Business, 22.06.2019 10:00
Your father offers you a choice of $120,000 in 11 years or $48,500 today. use appendix b as an approximate answer, but calculate your final answer using the formula and financial calculator methods. a-1. if money is discounted at 11 percent, what is the present value of the $120,000?
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Business, 22.06.2019 11:10
Use the information below to answer the following question. the boxwood company sells blankets for $60 each. the following was taken from the inventory records during may. the company had no beginning inventory on may 1. date blankets units cost may 3 purchase 5 $20 10 sale 3 17 purchase 10 $24 20 sale 6 23 sale 3 30 purchase 10 $30 assuming that the company uses the perpetual inventory system, determine the gross profit for the month of may using the lifo cost method.
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Business, 22.06.2019 19:40
Banana computers has decided to procure processing chips required for its laptops from external suppliers instead of manufacturing them in their own facilities. how will this decision affect the firm? a. the firm will be protected against the principal-agent problem. b. the firm's administrative costs will be low because of necessary bureaucracy. c. the firm will have more flexibility in purchasing and comparing prices of goods and services. d. the firm will have high-powered incentives, such as hourly wages and salaries.
Answers: 3
Volunteer corporation reported taxable income of $500,000 from operations for 2010. the company paid...
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