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Question - Omega Investments, Inc., was formed in 1999 by 10 unrelated individual investors. It operates a chain of electronics stores. The corporation suffered losses in its early years but has become profitable in recent years. The corporation elected S corporation status in 1999. Over the years, the original shareholders have gifted shares to their children and transferred them to trusts for their grandchildren. At the end of last year, there were 70 shareholders. Additional gifts made in the current year have increased the number of shareholders to 90. The company needs more cash and would like to sell additional shares. Please advise a memo advising the investors of the tax implications of issuing additional shares of stock.
ACC03032- Contemporary issues in accounting. Define critical accounting theory; Assess the neutrality and objectivity of financial reports from a critical perspective of accounting; Assess research based on Positive Accounting and Legitimacy Theories..
On January 2, 2006, Lela Peterson established Acadia Realty, which completed the following transactions during the month.
Define and explain the differences between a cloud based accounting system and a traditional accounting system. Identify potential risks or limitations in adopting a cloud based accounting system
aretha has an agi of less than 100000 and a 25 percent marginal tax rate. during the year she reports a 36000 loss from
The following transactions occurred during March 2013 for the Wainwright Corporation.
Determine and analyze other methods to decide when to ship goods and their implication on the business.
Company sells a single product at $20 per unit. Sales- 100,000, variable costs $800,000, fixed costs $400,000 If a $4 drop in selling price will boost unit sales by 20% the company will experience:
Which value of the land is appropriate for measuring Morris's capital-book value or current market value and give the partnership's journal entry to record Morris's investment in the business.
What are the pros and cons of using reversing entries? Why are reversing entries optional?
on april 1 bear inc. paid 2400 for an insurance premium on a three-year insurance policy. at the end of december bears
Suggest at least two advantages and two disadvantages of companies accumulating cash hoards. Provide a rationale for your suggestion.
The Allowance for Bad Debts account had a balance of $5,300 at the beginning of the year and $6,100 at the end of the year.
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