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1. To qualify as an S corporation there is no limit to the number of shareholders.2. A corporation with more than 50 shareholders will not qualify for the S election.3. Ace Trucking Co., Inc. is chartered in Michigan. It has 100 shares of common stock and 200 shares of preferred stock outstanding which are held by three individuals who also live in Michigan. The corporation owns no subsidiaries.This corporation qualifies for the S election.4. A corporation with two classes of stock cannot qualify under Subchapter S for the election not to be taxed.5. If a corporation fails to make a timely S election, an extension of time to make the election may be granted.6. A calendar year corporation that meets certain requirements and wishes not to be taxed as a corporation for 2013 must make an S election 7. An S corporation cannot be subject to an income tax.8. An electing S corporation is entitled to the dividends received deduction.9. A shareholder's stock basis in an S corporation is increased by his or her share of the corporation's separately stated and non-separately computed items of income.10. If a shareholder of an S corporation has a tax year different from that of the corporation, he or she must report any distributions of current year's taxable income in the year he or she actually receives the distribution.11. Any incorporated business can elect to be taxed as an S corporation.12. Since S corporations are corporations, they are subject to the accumulated earnings tax, personal holding company tax, and alternative minimum tax.13. A corporation cannot elect S status if it has as a shareholder a corporation or partnership.14. A corporation that wants to elect and retain S corporation status can at no time have 100 shareholders.15. All members of the same family are treated as one shareholder in an S corporation.16. A corporation cannot qualify as an S corporation if it has more than one class of stock.17. A corporation eligible to be an S corporation is automatically treated as such by the IRS.18. A corporation's S status can only be terminated by having all shareholders revoke the S election.19. Once filed, an S corporation cannot rescind a revocation.
ABC company bonds have 4 years left to maturity. Interest is paid annually, and the bonds have a $1,000 par value and a coupon rate of 9%. What is the yield to maturity at a current market price of (1) $829 and (2) $1,104?
Find some problem areas in the cost of capital analysis and do these problems invalidate the cost of capital procedures we are discussing in this unit?
Prepare a schedule which shows expected cash receipts from sales for the month of May.
your finance text book sold 49000 copies in its first year. the publishing company expects the sales to grow at a rate
Differentiate between direct and indirect methods of intervention. Address the tools used by governments to impact exchange rates and how political factors impact these decisions.
Based on financial and opportunity costs, determine which of the following do you believe would be the wiser purchase?
Determine the future value of $1,000, placed in a saving account for four years if the account pays 8 percent, compounded quarterly?
What is the annual amount that Louis can spend while on his world tour if he will have no money left in the bank when he dies? This is assuming that Louis has a remaining life of 25 years and earns 9% on his savings.
Reflect on the key course objectives including the financial, legal, alternative health care models, reinforced by your knowledge of strategic planning and capital budgeting in preparing your response.
If a borrower promises to pay you $1,900 9 years from now in return for a loan of $1,000 today, what effective annual interest rate is being offered? A. 5.26% B. 7.39% C. 9.00% D. 10.00%
The 6-month, 12-month, 18-month, and 24-month zero rates are 3.00%, 3.50%, 4.00%, and 4.50% with semi-annual compounding.
hyatt has 20 employees at age 45 who will retire when they become pension eligible at age 65.nbsp at this point they
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