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Questions -
Q1) Compute how much tax is owed if a business you own earns $710,034 dollars pretax (and pays out all the net income to yourself); show the computation under 3 different forms of organizations: proprietorship, limited liability company, and corporation (assuming your personal income tax rate is 37% and the corporate income tax rate is 21%).
Q2) Compute how much you personally owe if a business you own goes bankrupt with $30,034 more in liabilities/debts than the company has in assets; show the amount under 3 different forms of organization: proprietorship, limited liability company, and corporation.
Financial Statement Analysis and Preparation
Describe the ways that a person can become a shareholder of a company. Why Wal-Mart would split its stock?
An understanding of financial and accounting principles can be a valuable tool for managers. While not all managers will find themselves calculating financial ratios or preparing annual financial data.
Prepare a Statement of Cash Flow using the Direct Method and Prepare the Operations section of the Statement of Cash Flow using the Indirect Method.
This assignment has one case study and two question apart from case study. Questions related to document Liquidation question and Company financial statements question - Torquay Limited
Prepare general journal entries for Goela Ltd
Prepare the journal entry to record the acquisition of the assets.
Prepare general journal entries to record the transactions, assuming use of the periodic inventory system
Compare the view espoused by the economist Milton Friedman about the social responsibilities of business with the views express by Stigler.
Explain the IASB Conceptual Framework's perspective of users and their decisions.
T he focus of the report is to determine the extent to which you are comfortable relying on the financial statements as presented by management .
Computation of Free Cash Flow
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