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Shamu Corp. began operations in 2013, and switched from using the weighted-average inventory assumption to using FIFO in 2014. 2014 ending inventory has already been calculated to be $85,000 using FIFO (but cost of goods sold for 2014 may still need adjustment). Had Shamu used FIFO in 2012, cost of good sold would have been $60,000 instead of $63,000. Ignoring income taxes, what journal entry is needed to adjust the 2014 books to reflect this change? Assume that the 2014 closing entries have not yet been made.
Compute the combined tax liability of the two corporations. Be sure to show your work in order to get full credit. Scenarios:
What you will do, what you can do, and how to proceed. Do you complete the financials, and are you able to prepare the tax returns?
their taxable income for the current year excluding the loss from tornadao is $250,000. Evaluate the amount of Olaf and Anna's loss and the year in which they should take the loss
The Sanding Department of Richards Furniture Company has the subsequent production and manufacturing cost data for March 2014, the first month of operation.
What is the price of each bond today and if interest rates remain unchanged, what do you expect the price of these bonds to be 1 year from now?
total 2008 gift of life insurance policy is 72000. annual exclusions are 24000 2 domes at 1200. present taxable gifts
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your business tax client mimi charpentier operates a successful sole proprietorship which sells cupcakes to retail
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