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Dec 29 Susquehanna equipment rentals was named, along with mission land scaping and collier construction ,as a co defendant in 25000 law suit filed on behalf of kevin davenport. Mission landscaping hadleft the rented backhoe in a fenced construction site owned bycolllier construction. After working hours on december 26, Daven porthad climbed the fence to play on parked construction equipment. While playing on the backhoe , he fell and broke his arms. The extent of the company legal and financial responsibility for this accident, if any, cannot be determined at this time. (Note: this event does not required a journal entrty at this time , butmay require disclosue in notes accompanying the statment).
Calculate the after-tax cost of each payment assuming she has a 25 percent marginal tax rate. $800 to reimburse the cost of meals incurred by employees while travelling for the business $1,200 for football tickets to entertain out-of-town clients ..
Cole is to receive a bonus of 20% of net income (after the bonus) and that the remaining net income is to be divided equally. If the partnership income before the bonus for Year 2006 is $57,600, Cole's share of the pre-bonus income is?
Assume that the County of Katerah maintains its books and records in a manner that facilitates preparation of the fund financial statements. Prepare the necessary entries for the current fiscal year.
What is the normal due date for the tax return of calendar-year taxpayers? What happens to the due date if it falls on a Saturday, Sunday, or holiday?
USACo adjusted basis in the equipment is $10,000 on the date of sale. what is the source of the $340,000 gain on the sale of the equipment?
In manufacturing its products for the month of September 2008, El Dorado Corporation incurred normal spoilage of $7,000 and abnormal spoilage of $3,000. How much spoilage cost should El Dorado charge as inventoriable for the month of September 200..
A company had stock outstanding as follows during each of its first three years of operations: 2,500 shares of $10, $100 par, cumulative preferred stock and 50,000 shares of $10 par common stock. The amounts distributed as dividends are present..
Prepare Journal Entries for the government based on the production of fund-based financial statements. Than prepare JE entries in anticipation of preparing governement-wide financial statements. Before each JE state which fund the JE is recorded i..
the "Dual Track" approach is a method of accounting used in government for the purposes of simplified reporting. What does it mean to run your accounts on the ‘Dual Track' approach?
What is the purpose of having both a partner-in-charge and a consulting partner on each audit engagement? should the partners be rotated among thier clients periodically? why or why not? (short question answer)
The partnership paid office expenses of $100,000. In addition, KKM distributed $10,000 each to partners Kaylyn and Kristie, and the partnership paid partner Megan $20,000 for administrative services. Kaylyn reports the following income from KKM du..
You are given the following facts about a one-shareholder S corporation, and you are asked to prepare the shareholder's ending stock basis.
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