In the current year, Azure Company has $350,000 of net operating income before deducting any compensation or other payment to its sole owner, Sasha. In addition, Azure has interest on municipal bonds of $25,000. Sasha has significant income from other sources and is in the 37% marginal tax bracket.Based on this information, determine the income tax consequences to Azure Company and to Sasha during the year for each of the following independent situations. (Ignore the deduction for qualified business income and the 3.8% Medicare surtax on net investment income.)The rates on qualified dividends are 0%, 15% and 20%.If an amount is zero, enter "0".

Answer:

the question is incomplete:

a. Azure is a C corporation and pays no dividends or salary to Sasha.

Azure Company, as a C corporation, has taxable income of $350,000 and corporate income tax of $73,500 (21% of net income). Sasha has taxable income of $0 from Azure.

b. Azure is a C corporation and distributes $75,000 of dividends to Sasha.

Azure Company has taxable income of $350,000 and corporate income tax of $73,500 (21% of net income). Sasha incurs income tax of $15,000 (20% tax rate) with respect to the dividends.

c. Azure is a C corporation and pays $75,000 of salary to Sasha. (Ignore payroll taxes.)

The salary paid to Sasha is deductible by Azure Company resulting in taxable income of $275,000 and corporate income tax of $57,750 (21% of net income). Sasha incurs income tax of $27,750 (37% marginal tax rate) with respect to the salary she received during the year.

d. Azure is a sole proprietorship, and Sasha withdraws $0. (Ignore self-employment taxes.)

There is no Federal income tax applicable to businesses formed as sole proprietorships. Sasha incurs income tax of  $129,500 (37% of $350,000) with respect to Azure Company.

e. Azure is a sole proprietorship, and Sasha withdraws $75,000. (Ignore self-employment taxes.)

There is no Federal income tax applicable to businesses formed as sole proprietorships. Sasha will pay tax on the income of Azure Company, regardless of the amount she withdraws. Applicable taxes are the same a in (d).

Acme Inc. has 200 total employees, 150 of which are nonexcludable employees. Ten employees are highly compensated. Seven of the 10 highly compensated and 100 of the 140 nonhighly compensated employees are covered under Acme's qualified plan. The average accrued benefits for the highly compensated is 3% and the average accrued benefit for the nonhighly compensated is 1.5%. Which of the following statements is true regarding coverage? The Plan Passes the ratio percentage test. The plan passes the average benefits test. a. Both 1 and 2. b. 1 only. c. Neither 1 nor 2. d. 2 only.

How do you choose the brainliest answer?

Blogging on a regular basis represents an enormous opportunity for growth and a far-reaching presence.

How do organizations utilize blogs?

a. To make job offers
b. To create engagement
c. To develop relationships
d. To improve customer relations Internal communications.

When wishing to acquire information from customers who use your products, which method would yield the best results?

a. Wiki
b. Blog
c. Podcast

Companies can use blogs to share late-breaking news of tidbits of interest to employees. This is an example of____________ Blogs take the same care and attention as other business writing.

Why the companies need to extend their product life cycle?

Crane Company purchased land as a factory site for $1300000. Crane paid $110000 to tear down two buildings on the land. Salvage was sold for $8000. Legal fees of $5000 were paid for title investigation and making the purchase. Architect's fees were $46000. Title insurance cost $3500, and liability insurance during construction cost $3800. Excavation cost $15000. The contractor was paid $4200000. An assessment made by the city for pavement was $9500. Interest costs during construction were $250000.

Required:
a. The cost of the land that should be recorded by Wilson Co. is:________
b. The cost of the building should be recorded by Wilson Co. is:_________

Chance Company had two operating divisions, one manufacturing farm equipment and the other office supplies. Both divisions are considered separate components as defined by generally accepted accounting principles. The farm equipment component had been unprofitable, and on September 1, 2016, the company adopted a plan to sell the assets of the division. The actual sale was completed on December 15, 2016, at a price of $640,000. The book value of the division’s assets was $1,090,000, resulting in a before-tax loss of $450,000 on the sale. The division incurred a before-tax operating loss from operations of $120,000 from the beginning of the year through December 15. The income tax rate is 30%. Chance’s after-tax income from its continuing operations is $440,000.Required:Prepare an income statement for 2016 beginning with income from continuing operations. Include appropriate EPS disclosures assuming that 100,000 shares of common stock were outstanding throughout the year. (Amounts to be deducted should be indicated with a minus sign. Round EPS answers to 2 decimal places.)

At December 31, 2017, Novak Corporation reported the following plant assets. Land $ 3,198,000 Buildings $26,610,000 Less: Accumulated depreciation—buildings 12,712,050 13,897,950 Equipment 42,640,000 Less: Accumulated depreciation—equipment 5,330,000 37,310,000 Total plant assets $54,405,950 During 2018, the following selected cash transactions occurred. Apr. 1 Purchased land for $2,345,200. May 1 Sold equipment that cost $639,600 when purchased on January 1, 2011. The equipment was sold for $181,220. June 1 Sold land for $1,705,600. The land cost $1,066,000. July 1 Purchased equipment for $1,172,600. Dec. 31 Retired equipment that cost $746,200 when purchased on December 31, 2008. No salvage value was received.Prepare the plant assets section of Novak’s balance sheet at December 31, 2018.

Gilberto Company currently manufactures 74,000 units per year of one of its crucial parts. Variable costs are $2.40 per unit, fixed costs related to making this part are $84,000 per year, and allocated fixed costs are $71,000 per year. Allocated fixed costs are unavoidable whether the company makes or buys the part. Gilberto is considering buying the part from a supplier for a quoted price of $3.65 per unit guaranteed for a three-year period. Calculate the total incremental cost of making 74,000 and buying 74,000 units. Should the company continue to manufacture the part, or should it buy the part from the outside supplier?

The Hampton Inn in Stow, Ohio, has two sets of employees, the front desk staff and the housekeeping staff. There is always one front desk clerk on duty at all times, 24/7, and all of the front desk clerks make $8.00 an hour.The housekeeping staff is also paid $8.00 an hour, but they are paid for the number of hours that it takes them to clean the rooms in the hotel. Each room takes 30 minutes to clean, but if a room has not been used the night before, it does not have to be cleaned, so the housekeeping staff work fewer hours on days when the hotel is not as full.The hotel calculates its profitability on a per-room basis, since they have some costs that vary with the number of rooms that are occupied on a particular night. Right now, their costs other than staff wages are marketing expenses of $5,400 per month, management salaries of $60,000 per month, and general overhead (costs like utilities and insurance) of $30,000 per month.The hotel has 50 rooms, all of which rent for the same price per night.Assuming a 30-day month, what are the hotel’s total fixed costs per day? (Be careful, read all of the cost information carefully and think before you answer this question.)What is the hotel’s variable cost per room?If the hotel fills all of its rooms for the night, what price should they charge to break even?What price should they charge to break even with only 70% of the hotel’s rooms sold for the night?What price should they charge to earn a profit margin of 25% when 70% of the hotel’s rooms are sold for the night?

Assume that Gorilla Corporation's capital loss carryforward is $27,000 and that Gorilla will be able to use $11,000 of the carryover to offset capital gains in 2021 and the remaining $16,000 to offset capital gains in 2022.

Required:
Determine the tax savings of the $105,000 long-term capital loss recognized in 2020.

Assume a discount rate of 5%. The present value factors at 5% are as follows:

1.000 for 2017-2020;
0.9524 for 2021
0.9070 for 2022.

Gorilla Corporation's marginal income tax rate is 34% for all tax years prior to 2018. In present value terms, the tax savings of the $105,000 long-term capital loss recognized in 2020 is $________ .

If you can buy a pack of candy bars 5.99 or a 2 pack 3.49,what is the unit cost for a bar in each case?

4. Ellen contracts to buy six cases of vintage Fertile Valley wine from Grapes & Vines Winery for $1,200. The contract states that delivery is to be made at Ellen’s residence "on or before May 1, to be used for daughter's wedding reception on May 2." On May 1, Grapes & Vines delivery van is involved in an accident, no wine is delivered that day, and no one from Grapes & Vines tells Ellen. On the morning of May 2, Ellen buys the wine from Happy Hill Winery. That afternoon, just before the reception, Grapes & Vines tenders delivery of the wine at Ellen’s residence. She refuses tender\delivery. Grapes & Vines sues her for breach of contract. How is the court most likely to rule

You decide to invest $100,000 in cryptocurrencies and you use that amount to buy bitcoin. Your bitcoin appreciate by 30% in one month, at which point you liquidate half your position for cash, which you do not reinvest. Bitcoin appreciates by another 25% during the second month and you sell an additional 40% of your holdings. The cryptocurrency then falls by 60% in the third month, at which point you liquidate your entire position for cash.
What is your dollar weighted monthly return?

g The Dynatech Brewing Company is a small craft brewer that produces five standard varieties of beer. The beers sell for $6 per six-pack, and the company currently sells 7,000 six-packs per month. The company is considering producing a seasonal beer that will be sold in October, November, and December. The company estimates that at $6 per six-pack, the company will sell 1,400 six-packs. At $7 per six-pack, sales will be 700 six-packs. The company also estimates that sales of the seasonal beer will eat into sales of its standard items. Specifically, for every 700 six-packs of the seasonal beer that are sold, 210 six-packs of the standard varieties will not be sold. The variable production costs of all beers is $1.70 per six-pack. Calculate the incremental profit associated with the two selling prices under consideration for the seasonal beer (i.e., $6 and $7 per six-pack). (Enter loss using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) $6 per six-pack $7 per six-pack Incremental profit/(loss) $enter a dollar amount $enter a dollar amount eTextbook and Media Should Dynatech Brewing produce the beer

What is one argument in favor of the Fed using aggressive expansionary monetary policy during an economic crisis?

On September 30, 2021, the San Fillipo Corporation issued 8% stated rate bonds with a face amount of $180 million. The bonds mature on September 30, 2041 (20 years). The market rate of interest for similar bonds was 10%. Interest is paid semiannually on March 31 and September 30.

Required:
Determine the price of the bonds on September 30, 2021.

Baillie Power leased high-tech electronic equipment from Courtney Leasing on January 1, 2021. Courtney purchased the equipment from Doane Machines at a cost of $255,000, its fair value.

Related Information:

Lease term 2 years (8 quarterly periods)
Quarterly lease payments $20,000 at Jan. 1, 2021, and at Mar. 31, June 30, Sept. 30, and Dec. 31 thereafter
Economic life of asset 5 years
Interest rate charged by the lessor 12%

Required:
Prepare a lease amortization schedule and appropriate entries for Baillie Power from the beginning of the lease through December 31, 2021.

Devon, the CEO believes that his staff just needs a little push by giving them an understanding of the importance of each of their positions to the company while allowing them to also see each of their own direct impact. Each position, from product development to sales plays a crucial role in Change It Pharmaceuticals. Devon feels that giving timely information regarding their job performance and letting them know the importance of their roles to the company will improve work performance.

Required:
Devon has focused on which two characteristics of the job characteristic model?

C. Describe how organizational structure can impact the effectiveness of the business in the scenario by doing the following: 1. Describe how the organizational structure chosen in part A1 can impact the effectiveness of the business in the scenario, using the goal-attainment approach to measuring organizational effectiveness. 2. Explain the advantages or disadvantages of using an organizational structure from the list in part A1 that is different from the structure already chosen for the business, using the goal-attainment approach to measuring organizational effectiveness.

babysits on the weekends for extra money. Suppose that three neighbors with children are interested in paying Elizabeth to babysit their children. In​ particular, Mr. and Dr. Brown would be willing to pay ​$31 to have Elizabeth babysit their​ children, Mr. Smith would be willing to pay ​$28 for Elizabeth​'s babysitting​ services, and Professor Jones and Mr. Jones would be willing to pay ​$22 to have her watch their children. If Elizabeth offers to babysit each set of children for an evening for ​$22​, what will be consumer​ surplus, considering the three sets of children​ combined? ​$nothing. ​(Enter your response using an integer.​)

Sam’s Long Life 75-watt light bulbs are designed to have a life of 1,130 hours with tolerances of ±200 hours. The process that makes light bulbs has a mean of 1,010 hours, with a standard deviation of 54 hours. Compute the process capability ratio and the process.

Causwell Company began 2021 with 12,000 units of inventory on hand. The cost of each unit was $5.00. During 2021 an additional 32,000 units were purchased at a single unit cost, and 22,000 units remained on hand at the end of 2021 (22,000 units therefore were sold during 2021). Causwell uses a periodic inventory system. Cost of goods sold for 2021, applying the average cost method, is $118,800. The company is interested in determining what cost of goods sold would have been if the FIFO or LIFO methods were used.

Required:
a. Determine the cost of goods sold for 2018 using the FIFO method.
b. Determine the cost of goods sold for 2018 using the LIFO method.

Hofstra Plastics’ selected data for October 2013 are presented here (in millions):

Direct materials inventory, 10/1/2013 $85
Direct materials purchased 370
Direct materials used 355
Total manufacturing overhead costs 470
Variable manufacturing overhead costs 240
Total manufacturing costs incurred during October 2013 1,630
Work-in-process inventory, 10/1/2013 220
Cost of goods manufactured 1,630
Finished goods inventory, 10/1/2013 140
Cost of goods sold 1,740

Requirements:
Calculate the following costs:

a. Direct materials inventory, 10/31/
b. Fixed manufacturing overhead costs for October.
c. Direct manufacturing labor costs for October.
d. Work-in-process inventory, 10/31/
e. Cost of finished goods available for sale in October 6.Finished goods inventory, 10/31

Identify the correct statement regarding the Occupational Safety and Health Act (OSH Act). Select one:

a. In a closing conference, all the findings of the inspection are kept confidential with the concerned officers.
b. OSHA compliance officers do not entertain any kind of input or complaints from employees during the inspection.
c. OSHA compliance officers notify employers a month in advance before the inspection.
d. The OSHA compliance officer will seek a restraining order from the U.S. District Court, even if the inspection reveals that the problem is minor.
e. If an OSH Act violation results in citations, an employer must post each citation in a prominent place near the location of the violation.

Why does supply decrease when the price
of resources increases?

A tax rate that is higher for people with higher incomes is a

A. progressive tax
B. deductive tax
C. regressive tax
D. dependent tax​

The statement, "All basketball players are tall" is a stereotype.

Please select the best answer from the choices provided
)T
)F​

Use the following data to determine the total dollar amount of assets to be classified as current assets. Wildhorse Co. Balance Sheet December 31, 2022

Cash $200000
Accounts payable $195000
Accounts receivable 155000
Salaries and wages payable 32000
Inventory 160000
Mortgage payable 241500
Prepaid insurance 88500
Total liabilities $468500
Stock investments (long-term) 255000
Land 262000
Buildings $303000
Common stock $364000
Less: Accumulated depreciation (63500) 239500
Retained earnings 738500
Goodwill 211000
Total stockholders' equity $1102500
Total assets $1571000
Total liabilities and stockholders' equity $1571000

Transactions that affect earnings do not necessarily affect cash. Identify the effect, if any, that each of the following transactions would have upon cash and net income.

a. Purchased $125 of supplies for cash.
b. Recorded an adjusting entry to record use of $45 of the above supplies.
c. Made sales of $1,220, all on account.
d. Received $850 from customers in payment of their accounts.
e. Purchased equipment for cash, $2,500.
f. Recorded depreciation of building for period used, $610.

Job Costing Budgeted Manufacturing Overhead Rate, Allocated Manufacturing Overhead Taylor Company uses normal costing. It allocates manufacturing overhead costs using a budgeted rate per machine-hour. The following data are available for 2017: Budgeted manufacturing overhead costs $3,800,000 Budgeted machine-hours 200,000 Actual manufacturing overhead costs $3,660,000 Actual machine-hours 196,000 Use the blue shaded areas on the ENTERANSWERS tab for inputs. Always use cell references and formulas where appropriate to receive full credit. ​If you copy/paste from the Instructions tab you will be marked wrong. Requirements 1 Calculate the budgeted manufacturing overhead rate. 2 Calculate the manufacturing overhead allocated during 2017. 3 Calculate the amount of under- or overallocated manufacturing overhead. a. Enter your answer as a positive value.