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58 Nicole, a calendar year individual, owns 30%of Creole Cravings,inc,. a C corporation that was formed on February 1,2011. She receives a $5000 monthly salary from the corporation, and Creole cravings generates $200000 of taxable income (after accounting for payments to Nicole) for its tax year ending January 31,2012
a. How do these activities affect Nicole's 2011 adjusted gross income?
b. Assume, instead that Creole cravings is a partnership (January 31 year-end) and that it classifies Nicole's salary as a guaranteed payment. How do these activities affect Nicole's 2011 and 2012 adjusted gross income?
Candi purchased a 10 percent limited partnership interest in rental property for $30,000. The partnership has a $1,300,000 mortgage that is secured by the building.
In its statement of cash flows, Peridot should report net cash outflows from investing activities of:
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Ronald and Roy formed an equal partnership, R&R Partnership, a general partnership, on January 1, 2012. Ronald contributed $100,000 in exchange for his one-half interest in R&R partnership.
Assuming that total dividends declared in 2003 were $88,000, and that the preferred stock is not cumulative but is fully participating, each common share should receive 2003 dividends of what amount?
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As of December 31, 2010, Stand Still Industries had $2,500 of raw materials inventory. At the beginning of 2010, there was $2,000 of materials on hand. During the year, the company purchased $305,000 of materials;
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Reorder point under conditions of uncertainty given. Find out the low-cost reorder point under conditions of uncertainty given the following information:
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