What would be the consequences to zorn, inc.?, Financial Accounting

Assignment Help:

zorn conducted his professional practice through zorn, inc. the corporation uses a fiscal year ending september 30 even though the business purpose test for a fiscal year cannot be satisfied. For the year ending September 30, 2013, the corporation paid Zorn a salary of $180,000 and during the period January through September 2013, the corporation paid him a salary of $150,000.
a. how much salary should Zorn receive during the period October 1 through December 31, 2013?
b. Assume that Zorn received only $24,000 salary during the period October 1 through December 31, 2013. What would be the consequences to Zorn, Inc.?


Related Discussions:- What would be the consequences to zorn, inc.?

Communication and leadership, hi could you please help me in my assignment ...

hi could you please help me in my assignment i need it by 11/1/2017

Debtor management, what is the process to complete my debtor management pro...

what is the process to complete my debtor management project.

What do you mean by re - organization, Q. What do you mean by Re - organiza...

Q. What do you mean by Re - organization? Reorganization - This is a change in businesses capital arrangements. If for a CORPORATION there are 7 statutory options for reorganiz

Cost recovery deduction, On May 15, 2010, Your Corporation acquired an airp...

On May 15, 2010, Your Corporation acquired an airplane (5 year recovery period, 6 year class life) for $1,450,000. Its qualified business use is 54%. Determine the maximum cost rec

Describe about trade test, Q. Describe about Trade Test? With a view of...

Q. Describe about Trade Test? With a view of perform the work in a trade an artisan staff should have the skill required for the trade and for this Railway workers classificati

Revenue recognition, Revenue recognition is a joint project of financial ac...

Revenue recognition is a joint project of financial accounting standard board and international accounting standard board.1.identify the roles and objectives of FASB and IASB?.2. W

Group retained profits-group accounts, Group retained profits Retained pr...

Group retained profits Retained profits ideally should be the amounts that can be distributed as dividends. Therefore,  in arriving at group retained profits, careful attention s

Complete the cash flow spreadsheet, This lab assignment will correspond to ...

This lab assignment will correspond to developing a cash flow budget with an operating loan. There is on lab exercise listed below. Additionally, there are two assignment questions

Binary coded decimal, Binary Coded Decimal BCD stands for Binary Coded ...

Binary Coded Decimal BCD stands for Binary Coded Decimal. The information given to the computer is stored temporarily before it is processed.  Consider a number 827. The bin

Write Your Message!

Captcha
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