Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Problem - Hank, a calendar-year taxpayer, uses the cash method of accounting for his sole proprietorship. In late December, he performed $33,000 of legal services for a client. Hank typically requires his clients to pay his bills immediately upon receipt. Assume his marginal tax rate is 32 percent this year and will be 37 percent next year, and that he can earn an after-tax rate of return of 7 percent on his investments.
Required -
a. What is the after-tax income if Hank sends his client the bill in December?
b. What is the after-tax income if Hank sends his client the bill in January?
c. Based on requirement a and b, should Hank send his client the bill in December or January?
Compute the following ratios for 2014. (Weighted-average common shares in 2014 were 60,000.) Earnings per share and Return on common stockholders' equity.
On May 5, 2013, Dan purchased and placed in service a 7-year class asset costing $720,000. Compute the maximum deductions that Dan can claim with respect to this asset in 2013 and 2014.
Boyne Inc. had beginning inventory of $15,800 at cost and $28,600 at retail. Net purchases were $117,119 at cost and $178,900 at retail. Net markups were $10,400; net markdowns were $8,700; and sales revenue was $147,600. Ending inventory using the ..
Prepare a Lease Amortization schedule for the entire lease. Prepare the journal entry to record the exercise of the Bargain Purchase Option at the end of the lease term.
In 2016, Long Construction Corporation began construction work under a three-year contract. The contract price is $2,100,000. Long recognizes revenue over time according to percentage of completion for financial reporting purposes. What was the cost ..
Prepare a deferred tax worksheet to calculate the amounts for deferred tax assets and deferred tax liabilities for the reporting period 30 June 2018
Provide the details on all legislated payments on termination of employment required for each jurisdiction.- In addition to the required payments on termination, include any employer costs related to the employees' statutory deductions.
Describe the role religion played in the political system of the two cultures you have chosen. When responding to classmates, provide additional
General Hospital is planning to add a new diagnostic machine which should improve its quality of certain blood tests. The machine under consideration has a cost of $61,044 and is expected to save the hospital $7,610 each year. The machine has an expe..
What is the margin of safety in sales dollars-What amount of sales dollars is required to earn an annual profit.
Analyzing and Interpreting Pension Disclosure-Expenses and Returns Stanley Black & Decker, INC. discloses the following pension footnote in its 10-K report. Explain, in general, how expected return on plan assets affects reported pension expense. How..
simon lost 5000 betting this year on a trip to las vegas. in addition he paid 2000 to his broker for managing his
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd