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Burt is the custodian at Quaker Inn, an S corporation that has paid him bonuses over the years in the form of shares in the corporation. Burt now holds 276 shares in Quaker Inn. While listening to a television debate about a national health care plan, Burt decides that the company's health coverage is unfair. He is concerned about this because his wife, Dora, is seriously ill. During the second week in December, Burt informs Quaker's president that he would like a Christmas bonus of $75,000 cash; otherwise, he will sell 10 shares of his stock to one of his relatives, a nonresident alien. The resulting loss of the S election would trigger about $135,000 in Federal corporate income taxes for the current year alone. Can you defend Burt's position? Explain.
what is eusociality? what characteristics of hymenopterans favor the evolution and maintenance of eusocial behavior?no
Expensens accrued and still unpaid were $6,000 as at December 31, 2007, and $9,000 as at December 31, 2008. Can you show the computation of expenses on the accrual basis for the year 2008?
on 1st april 2010 johny purchased five machines for 60000 each. depreciation 10 p.a. on initial cost has been charged
Under the indirect method on preparing the statement of cashflows, increases in current assets are __________ net income in thecash flows from operating activities section.
Kendra, Cogley, and Mei share income and loss in a 3:2:1 ratio. The partners have decided to liquidate their partnership. On the day of liquidation their balance sheet appears as follows Prepare journal entries for
Compute the profit margin ratio and gross profit rate. Caltor Company's assets at the beginning of the year were $770,000 ,and were $830,000 at the end of the year. To qualify for full credit, you must state the formula you are using, show your co..
ti co a manufacturer of stero started its production as retailer in oct 08 for 3 years then decided to turn it to stero
Which of the following is recorded under Long Term Liabilities section of the Balance Sheet?
Strative costs would not be incurred. What is Salisbury's minimum price in order for them to accept the offer from the new customer (instead of Gilbert Company)?
section1. which of the following is ordinarily considered an extended procedure in external auditors independent audits
russell preston delivers parts for several local auto parts stores. he charges clients 0.78 per mile driven. russell
Nearly a week before Hurricane Katrina reached New Orleans, Wal-Mart began moving trucks and supplies into position, as specified in the company's ________ plan.
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