On January 1, 2018, equity account balances are as follows: Preferred Stock $ 500,000 Common Stock 1,000,000 Paid-In Capital in Excess of Par - Preferred 200,000 Paid-In Capital in Excess of Par - Common 500,000 Paid-In Capital From Treasury Stock 20,000 Retained Earnings 1,500,000 Treasury Stock (25,000 shares purchased 3/15/17) 762,500 On January 15, 2018, 10,000 shares of treasury stock are sold at $15 per share. The entry to record this transaction includes a Select one: a. debit to Paid-In Capital From Treasury Stock of $155,000 b. debit to Retained Earnings of $135,000 c. debit to Paid-In Capital From Treasury Stock of $150,000 d. debit to Retained Earnings of $155,000 e. debit to Paid-In Capital From Treasury Stock of $135,000

Jacob is a member of wcc (an llc taxed as a partnership). jacob was allocated $155,000 of business income from wcc for the year. jacob’s marginal income tax rate is 37 percent. the business allocation is subject to 2.9 percent of self-employment tax and 0.9 percent additional medicare tax. (round your intermediate calculations to the nearest whole dollar a) what is the amount of tax jacob will owe on the income allocation if the income is not qualified business income? b) what is the amount of tax jacob will owe on the income allocation if the income is qualified business income (qbi) and jacob qualifies for the full qbi duduction?

Magic realm, inc., has developed a new fantasy board game. the company sold 15,000 games last year at a selling price of $20 per game. fixed expenses associated with the game total $182,000 per year, and variable expenses are $6 per game. production of the game is entrusted to a printing contractor. variable expenses consist mostly of payments to this contractor.required: 1-a. prepare a contribution format income statement for the game last year.1-b. compute the degree of operating leverage.2. management is confident that the company can sell 58,880 games next year (an increase of 12,880 games, or 28%, over last year). given this assumption: a. what is the expected percentage increase in net operating income for next year? b. what is the expected amount of net operating income for next year? (do not prepare an income statement; use the degree of operating leverage to compute your answer.)

Paying attention to the purpose of her speech, which questions can she eliminate? a. 1 and 2 b. 3 c. 2 and 4 d. 1-4