21-2 - What are the eligibility requirements that a corporation must meet in order to qualify under Subchapter S? In order to qualify under subchapter S‚ a corporation must be a small business corporation‚ and additionally‚ must be a domestic corporation with less than 100 shareholders‚ must include only eligible shareholders‚ must have only one class of stock‚ and must not be an ineligible corporation. 21-13 - What limits are placed on the selection of a tax year of an S corporation? How do
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ACCT553: FINAL EXAM STUDY GUIDELINES The Final Exam will be administered during Week 8. It consists of 16 multiple-choice questions (five points each) totaling 80 points and 10 essay questions (17 points each) totaling 170 points for a grand total of 250 points. It is a 3.5-hour exam. There are some basic calculations involved‚ so a simple calculator may be useful. Showing your work will count towards your overall points‚ so make sure that your answer consists of more than just numbers. The
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AC 555 Assignment Week- 7 Problem 18-18 a. (2) b. (2) c. (2) Problem 18-21 a. 1. Both (test of authorization is a test of control) 2. Test of control 3. Substantive test of control 4. Test of control 5. Substantive test of transactions 6. Both (accounting for sequence is a test of control) 7. Substantive test of transactions b. 1. a) To determine that the amount recorded in the acquisitions journal is correct (accuracy)
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There are many ways that a company can motivate its employees. Consider the different types of pay and benefits described on pp. 420–423 of the text. What type of incentive do you think is most effective for creating a motivating work environment? Why? Creating a motivating work environment can be a difficult task. Employers need to consider the needs of employees and the average pay rates for the work required when determining salaries and benefits. To keep employees motivated‚ it is important
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COM/156 - UNIVERSITY COMPOSITION AND COMMUNICATION II Week 7 Discussion Questions Discussion Question 1 Ch. 9‚ Section 4 of Writing for Success explains the role an effective introduction should have in a paper. What aspect of writing an introduction do you anticipate may be a challenge for you? Why? An effective introduction should point out what information will be covered in the essay and in what order. Your introduction is your first (and maybe the last) chance to lure your reader into
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1 Question 1 0 out of 1 points 1 1 1 1 The return on a commercial bill for a holder at its maturity is the difference between its discounted purchase price and the face value of the bill. 1 1 Selected Answer: 2 True 3 Correct Answer: 4 False 2 Question 2 1 out of 1 points 1 1 1 1 With regard to a rollover bill financing facility: 1 1 Selected Answer: 2 none of the given answers are correct. 3 Correct Answer: 4 none of the given answers are correct
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ACCT553 Week 3 Homework – ANDRE SILVA _________________________________________________________ Please provide your answer to each question in the space provided below. When finished‚ submit to the DropBox. Chapter 7 1. In your "own" words‚ please describe what a "Suspended Loss" is‚ how it is generated and when it is becomes deductible. (5 pts) Suspended losses occur when losses from passive activities exceed income from passive activities in a tax year. The excess
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* Use a spreadsheet to develop a point-scoring matrix and determine which system Mark should select. Software | | | Weighted Score | weighted score | weighted score | Fulfillment of business needs | 100 | | 600 | 800 | 900 | Acceptance in marketplace | 30 | | 180 | 180 | 180 | Quality of documentation | 50 | | 350 | 450 | 400 | Quality of warranty | 50 | | 200 | 400 | 350 | Ease of use | 80 | | 560 | 480 | 400 | Control features | 50 | | 450 | 350 | 450 | Flexibility
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A. 1. Net Operating Profit after Taxes (Operating Income x (1-Tax Rate) NOPAT for 2011 = 108.6 (1-.40) =$65.16 2. Net Operating Working Capital for 2011 is calculated through Taking your Current Assets less – Non-Interest Bearing Current Liabilities NOWC for 2011 = ($5.6 + $56.2 + $112.4) – ($11.2 + $28.1) = $134.9 million. 3. Net Capital for 2011 is calculated the sum of NOWC (already shown as) 134.9 million + Net Fixed Assets (2011 Projected PP&E) of 397.5 = Net Capital for 2011 of = $134
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Homework Assignment #1 3-31 Tom and Linda are married taxpayers who file a joint return. They have itemized deductions of $11‚950 and four exemptions. Assuming an adjusted gross income of $40‚000.00 what is their taxable income for 2012? Adjusted Gross Income = $40‚000.00 Less: Itemized Deductions of $12‚250.00 Less: Personal Exemptions of $ 4($3‚700.00) =$14‚800.00 Taxable Income = $12‚950.00 3-32 Compute Marie’s taxable income for 2012‚ assuming she is single and claims two dependent
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