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Is there any tax advantage to a 100 percent shareholder-employee of an S corporation compared to a shareholder-employee of a C corporation under the following circumstances: shareholder- employee salary is $75,000; the corporate income before the $75,000 salary and any related employment expense is $100,000? The corporation also distributes $15,000 to the shareholder. The shareholder is single, has no dependents, and uses the standard deduction. Yes or No?
calculation of cash break-even quantity and financial break-even quantity.in each of the following cases find the
Understand the concepts of income, explain the conceptual guidelines for reporting income, and define the elements of an income statement.
Product Y sales were $40,000 and its variable expenses were $9,850. The company's fixed expenses were $48,310. What is the company's overall break-even point?
Pretty Pillows, Mfg., manufactures silk throw pillows. Last month the company produced 3,890 pillows. Using job order costing, determine the product unit cost for one pillow based on the following costs: production facility utilities, $1,600; depreci..
Show the ending balances in Accounts Receivable, Allowance for Uncollectible Accounts, and Net Accounts Receivable at October 31. How much does the store expect to collect?
Jane Wilson has prepared personal financial statements in which her assets are valued at her historical cost, less appropriate depreciation. Is this presentation in conformity with generally accepted accounting principles? Can a public accounting fir..
Finished goods inventory at the end of 2013 was 10,000 units. On average, 25% of the futons to be sold in the next month are produced and kept as ending balance in finished goods inventory. The planned selling price is $150 per unit. What would be th..
Find the difference between positive and normative economics? Which is more prevalent in today's economics? Why?
Jojo Photography reported net income of $100,000 for 2014. Calculate net cash provided by operating activities for Jojo Photography.
Compute the Present value of the Minimum Lease payments
Total partnership net assets will logically be revalued to $1,080,000 on the basis of the price paid by Mary Ann. Total capital of the new partnership will be $840,000 considering no revaluation.
Evaluate the variable cost per unit and Estimate the net fixed cost per month.
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