“Unreasonable Compensation” Please respond to the following: According to Levitt (2013) challenges of unreasonable compensation deductions by the IRS are increasing as a result of the tax rate increases and new taxes under the American Taxpayer Relief Act of 2012 (ATRA). In Mulcahy, Pauritsch, Salvador & Co., Ltd. v. Commissioner, 680 F.3d 867 (7th Cir. 2012), aff’g, T.C. Memo 2011-74 (2011), the IRS challenged deductions taken […]
Parent Corporation paid $105,000 to acquire 75% of the common shares of Subsidiary Inc. on December 31, 2017. At that date, Parent Corporation also had an outstanding note payable to Subsidiary Inc. in the amount of $20,000. Assume that Parent Corporation and Subsidiary Inc. had the following account balances at December 31, 2017 (immediately after the investment): Assets: Parent Subsidiary Corporation Inc. Cash $ 35,000 $ 15,000 Note receivable […]
Hi if you could answer the following question that would be greatly appreciated thanks. Please only do 1 out of the 2 for the following. Unless you could explain both, then that would be great. |Question 3. Currency Option Pricing with Binomial Model (10 marks) {in January 11, the spot exchange rate for the U.S. dollar is $fl.?fl per Canadian dollar. Inone year’s time, the […]
1. To guide cost allocation decisions, the cause-and-effect criterionmay allocate corporate salaries to divisions based on profits.is used less frequently than the other criteria.is the primary criterion used in activity-based costing.is a difficult criterion on which to obtain agreement.2. Which cost-allocation criterion is MOST likely to subsidize poor performers at the expense of the best performers? Cause-and-effect criterionAbility-to-bear criterionFairness-or-equity criterionBenefits-received criterion3.The MOST likely reason for […]
Handy-Man Services is a repair-service company specializing in small household jobs. Each client pays a fixed monthly service fee based on the number of rooms in the house. Records are kept on the time and material costs used for each repair. The following profitability data apply to five customers.Customer Costs$22530575110220Question 1: Compute the operating income for each of the five customers. Question 2: What options […]
You work for a wholesale manufacturer of jewelry and plan on making a large purchase of silver in August to start production of jewelry for the holiday season. You are worried that the price of silver may increase and want to use the futures market to hedge the risk of a price increase. ( 10 points each) a) Should you take a short or long […]
The mallory corp has two different bonds currently outstanding. Bond M has a face value of $20,000 and matures in 20 years. The bond makes no payments for the first six years, then pays $1,200 every six months over the subsequent eight years, and finally pays $1500 every six months over the last six years. Bond N also has a face value of $20,000 and […]
Read the Product Report for Alikay Naturals Moisturizing Black Soap Shampoo. The Product Report contains important information that will help you to identify where the product stands in the Product Life Cycle and give you clues about what changes customers might like to see. Respond to Rochelle and her team at Alikay Naturals based on the information in the Product Report. Identify where Moisturizing Black […]
CZ is merchandising company engaged in the purchasing and selling of electrical appliances. You as a management accountant have been asked to prepare a complete master budget for your store for June,July and August, so you gather the following data as of may 31,2005: Cash 21,000 Inventory 300,000 Accounts receivable 261,000 Net furniture and fixtures 120,000 Total assets 702,000 Accounts payable 340,000 Owners equity 362,000 […]
The most recent balance sheet of infinity information Systems (IIS) shows that the company has $35 million of common equity and 7 million shares of common stock outstanding. The company’s common stock has a market value equal to $8 per share. IIS’ net income was $14 million. What are IIS’ (a) P/E ratio and (b) M/B ratio? Horatio’s Hot Dogs current assets equal $260,000. The […]
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