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Sue and Bill plan to open an accounting firm and expect to work full time in the firm. They expect to incur a small loss during their first year of operation and expect to be profitable after the first year. What are the tax law requirements for structuring the business as a partnership or an S corporation? Which would you recommend and why?
Bob and Dave plan to start a business. Bob will contribute land and Dave will contribute services. Would you recommend this business be formed as a partnership or as an S corporation? Why?
What are separately stated items on a K-1? Why is it necessary to separate these items from ordinary income?
What is the difference between a distribution and a distributive share? How do these affect the owner's K-1 and individual taxes?
use the following information to prepare a multiple-step income statement.nbspnbspthe income tax rate on all items is
Compute (a) basic earnings per share, and (b) diluted earnings per share.
identify a cost driver for costs for each of the followinga. machine maintenanceb. machine setupc. utilitiesd. quality
the net income reported on the income statement for the current year was 225000. depreciation recorded on plant assets
doughboy bakery would like to buy a new machine for putting icing and other toppings on pastries. these are now put on
british productions performs london shows. the avg. show sells 1200 tickets at 50ticket. there are 120 shows a year.
Prepare, in general journal form, the workpaper entries relating to the intercompany sale of equipment that are necessary in the December 31, 2012 consolidated financial statements workpapers.
firm a makes and sells motorcycle. the total cost of each cycle is the sum of the cost of frames assembly and engine.
assertions are expressed or implied representations by management that are reflected in the financial statement
Footings for a structure are to be built beneath a basement slab
In the United States, a public company's financial statements must be according to Generally Accepted Accounting Principles (GAAP). These principles are cost, revenue recognition, and matching principles. Examine the financial statement and notes..
karen makes the following purchases and sales of stocktransaction date number of shares company price per sharepurchase
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