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A portion of company profits allocated by an employer, in good years, to an employee's trust.Contributions on behalf of every employee are expressed as a percentage of salary with 5% being common practice. If the profit-sharing plan is a qualified plan according to the IRS, employer contributions are tax deductible as a business expense. These contributions are not presently taxable to the employee; advantages are taxed at the time of distribution.
How are gains from the sale of § 1244 stock treated? Gains on the sale of § 1244 stock is treated as
norman co borrows $15,000 with a 8%interest 38,000 account receivable paid $26,000 salary
1. Under the FIFO Cost Flow Assumption during a period of inflation, which of the following is false? WHICH OF THE FOLLOWING IS NOT TRUE a. Income tax expenses will be hig
Q. Equity segment of a corporate balance sheet? The stockholders' equity segment of a corporate balance sheet can become more complex as you will see later in the text. But the
basic methods for calculating depreciation
State about the Trade discounts Percentage reduction from list price of the merchandise. These aren't recorded in the accounting records of the seller or buyer. Buyer always
On January 1, 2012, Magnus Corporation had 60,000 shares of $1 par value common stock issued and outstanding. During the year, the following transactions occurred: Mar. 1
If my company sells 4000 shares of common stock for $86,400, how do I record this in the Journal?
application/realization in history of accounting
Q. Explain about Trial balance? Trial balance -- at the close of an accounting period, transactions posted in the ledger areadded up. A trial or test balance sheet is prepared
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