What is the tax year can xyz elect

Assignment Help Accounting Basics
Reference no: EM133167265

Question - Zee Corp is a March 31 fiscal year C corp. It owns 70% of XYZ partnership. Leah a calendar year individual owns the other 30% of XYZ.

1) What's the tax year can XYZ elect?

2) Ten unrelated C corporation each with a fiscal year ended 4/30 each own 4.6% of the BCD partnership. Another ten unrelated C Corp with a fiscal year ended 6/30 also each own 4.6% of BCD. Another unrelated C Corp with an 8/31 fiscal year end own the remaining $8. What tax year must BCD elect?

3) Would the answer to the previous question change and if so how if the remaining 8% was owned 4% each by two additional unrelated C corps. (Hint: this answer may be a concept. You don't need to figure out the exact year?

Reference no: EM133167265

Questions Cloud

What was the ending cash balance : A firm reported ($ in millions) net cash inflows (outflows) as follows: operating $65, Investing ($206), What was the ending cash balance
Discuss measures that may be used to assess the quality : A firm's accounting earnings and its true economic income is the quality of earnings assessment. Discuss measures that may be used to assess the quality
Ensuring the prevention of problem gamblers : With the future of Gambling going online. How will Casino that utilizes an online and virtual platform ensure they are following and ensuring the prevention of
Describe the type of international business of sushiro : Identify and describe the type of international business of Sushiro.
What is the tax year can xyz elect : Zee Corp is a March 31 fiscal year C corp. It owns 70% of XYZ partnership. What is the tax year can XYZ elect
Distribution of exam scores of stat2607 : Suppose that the distribution of exam scores of STAT2607 is Normally distributed with mean 65 and standard deviation 20. If your exam score is at 80th percentil
Identify the stakeholders : Identify the Stakeholders (of intel compmany) Who are the main individuals, groups, or departments affected by the information system?
How much is the correct profit : The unadjusted balances of retained earnings are P3,700,000 and P6,000,000 as of December 31, 2022 and 2023, How much is the correct profit in 2022
What were the three phases in the life of the iasc : What were the three phases in the life of the IASC? What are the different ways in which IFRS might be used or adopted within a country

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

Free Assignment Quote

Assured A++ Grade

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!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd