profit margin on sales for 2013. Net income/net sales. receivables turnover ratio net sales/average A/R inventory turnover ratio for 2013. COGs/average inventory asset turnover ratio for 2013.Net sales/average total sales average collection period for 2013.365/receive turnover ratio. average days in inventory for 2013.365 / inventory turnover ratio decimal place. return on assets for 2013. Profit margin*assets turnover. return on stockholders’ equity for 2013. Net income/ average stockholder’s On December
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capital gain and taxable income of $35‚000. If taxpayer collects the entire $10‚000 during the current year‚ $8‚000 needs to be included in gross income. True False 4. A cash basis taxpayer must include as income the proceeds from the sale of an account receivable to a collection agency. True False 5. If an account receivable written off during a prior year is subsequently collected during the current year‚ the amount collected must be included in the gross income of the current year
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the assets have merely been transferred to a corporation that is controlled by the transferors. Section 351 also prevents the recognition of losses on transfers of property that has declined in value. Question 14-20 According to Publication 538: S Corporations‚ all Partnerships‚ Limited Liability Companies/Partnerships are required to use a calendar year. These pass-through entities can make an election to file on a fiscal year if they meet certain requirements. In almost cases‚ these entities
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December 20. The bank sent her a statement indicating that it had paid the charge on January 3. P may deduct the expense in which cases? a. 1 b. 1 and 2 c. 1 and 3 d. 1‚ 3‚ and 4 e. 1‚ 2‚ 3‚ and 4 2. The crucial reason for determining whether an item is deductible as an expense under § 162 or under § 212 is that a. production of income expenses are not deductible. b. § 162 business expenses usually are deductions for A.G.I.‚ while § 212 production of income expenses usually are miscellaneous
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Checks and Balances Andrea Metz POS300 Arizona/Federal Government December 14‚ 2009 This essay will discuss the Constitutional principle of Checks and Balances. It will explain the concept and effectiveness of the separation of power. As an example‚ the case of Brown v. The Board of Education will be used to explain the concept and effectiveness of the separation of power. Brown v. The Board of Education is a famous case that ended segregation in schools in 1954 during the Civil Rights Movement
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6-2 NETWORK ACCESS REQUIREMENTS The steps required to gain access to the FCKY Network are as follows: If you have had an account with another post‚ talk to the automations specialists before completing any of these steps. Register at https://atc.us.army.mil. Register with your AKO email. Once registered‚ log back in IOT associate CAC with username. Ensure you answer the three questions that follow. If you fail to do this‚ you will be unable to apply for an account. Go to https://ia
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NATIONAL INCOME Definition: According to Alfred Marshall‚ National Income is the labour and Capital of a country‚ acting on its natural resources‚ produced annually a certain net aggregate of commodities and in materials including services of all kinds. This is the net annual income or revenue of the country or the true national dividend. According to A.C.Pigou “ The national income dividend is that part of the objective income of the community‚ including‚ the income derived from aboard
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the trouble was difficult. (2) 100-Mbps or Fast Ethernet(Fast Ethernet is sometimes referred to as 100BASE-X where X is a placeholder for the FX and TX variants)‚ The 100 in the media type designation refers to the transmission speed of 100 Mbit/s. The "BASE" refers to baseband signalling. The TX‚ FX and T4 refer to the physical medium that carries the signal 100BASE-TX is the predominant form of Fast Ethernet‚ and runs over two wire-pairs inside a category 5 or above cable. Like 10BASE-T
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Consolidated Statement of Income Operating Revenues Revenue from services Sales revenue Less: Credit Card Discount Less: Sales Discount Less: Sales Returns & Allowances Total revenues Operating Expenses Cost of goods sold Salaries expense Rent expense Advertising expense General and administrative expenses Depreciation expense Other operating expenses Total expenses Operating Income Other Items Investment income Interest expense Loss on PPE sold Income before Income Taxes Income tax
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_ Tran Nam Quan: Blue Bui Minh Tri Quy : Task 1: Which of the following items are income: Rent from a residential rental property rented by a young family? yes‚ ordinary income under sec. 6-5 A birthday gift ? No A dividend from BP? Yes‚ Statutory income under sec.44(1) ITAA 1936 Wages and Salaries from your employer? Yes. Ordinary income under sec 6-5 Bank Interest Received? Yes‚ Ordinary income under sec 6-5(2) Your boss takes you out to dinner? No An allowance paid for your
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