Question 1 - Tundra Exploration, Inc. Scenario Plan A - Negotiated The type of pension plan for I would design for Tundra Exploration for Plan A would be a hybrid plan. Tundra Exploration will pay 3% of the employees final earnings of the calendar year but employees must contribute 5%. This plan will see employees and Tundra Exploration work together to govern a plan in which contributions are managed in order to provide a targeted payout for life in retirement. Employees must be vested to receive requirements and this plan will not integrate with any government benefits.
The most recent financial statements for Williamson, Inc., are shown here (assuming no income taxes): Income Statement Balance Sheet Sales $ 6,700 Assets $22,050 Debt $ 8,050 Costs 3,850 Equity 14,000 Net income $ 2,850 Total $22,050 Total $22,050 Assets and costs are proportional to sales. Debt and equity are not. No dividends are paid. Next year’s sales are projected to be $7,906. What is the external financing needed?
Line 17—Disposition of exercised the option is not taxable for the excess, if any, of: Property the regular tax. His regular tax basis in 1. The fair market value of the stock the stock at the end of 2009 is $20,000. Your AMT gain or loss from the For the AMT, however, Ash must acquired through exercise of the option disposition of property may be different include the $180,000 as an adjustment (determined without regard to any lapse from your gain or loss for the regular on his 2009 Form 6251. His AMT basis restriction) when your rights in the tax.
Problem 2 On January 1, Borman Company, a lessee, entered into three non-cancellable leases for new equipment identified as J, K and L. None of the three leases transfers ownership of the equipment to Borman at the end of the lease term. For each of the three leases, the present value at the beginning of the lease term of the minimum lease payments excluding that portion of the payments representing executor costs such as insurance, maintenance, and taxes to be paid by the lessor, including any profit thereon, is 75% of the excess of the fair value of the equipment to the lessor at the inception of the lease over any related investment
CH8 AP8-1A CORRECT At December 31, 2010, Leis Co. reported the following information on its balance sheet. | Accounts receivable | $915,300 | Less: Allowance for doubtful accounts | 78,000 | During 2011, the company had the following transactions related to receivables. 1. | Sales on account | $3,289,500 | 2. | Sales returns and allowances | 51,100 | 3.
7-20 47. An NOL carryforward is used in determining the current year’s NOL. ANS: F An NOL carryforward is not used in determining the current year’s NOL. PTS: 1 REF: p. 7-21 48. The excess of nonbusiness capital losses over nonbusiness capital gains must be added to taxable income to compute the net operating loss of an individual.
AMBA 630 Week 2 1.) What 3 items of important information does the income statement reveal about the financial performance of the company over the last three years? $ in Millions(except for per share items) | 2011 | 2010 | 2009 | Revenue | 12,317 | 11,691 | 10,908 | Gross Profit | 1,602 | 1,475 | 1,235 | S. G. & A Expense | 752 | 780 | 722 | Operating Income | 508 | 695 | -274 | Net Income | 198 | 458 | -346 | Income Statement % | 2011 | 2010 | 2009 | Revenue Growth | 95 | 93 | | Gross Profit/Revenue | 13 | 13 | | S. G. & A Expense | 6 | 6 | 6 | Operating Income/Revenue | 4 | 6 | -3 | Net Income/Revenue | 2 | 4 | 3 | Revenue Growth: Should grow over time, & the Marriot
When considering how Small Fries Inc and its other facilities should record the costs associated with OSHA compliance on their financial statements as either capitalized as an asset or charged to expenses. We should consider the types of repairs that will be done. Whether they are ordinary repairs or major and extraordinary repairs that will benefit the companies more than one year or operating cycle. According to ASC 360 -10- 25- 5 Planned Major Maintenance Activities, The use of the accrue-in-advance (accrual) method of accounting for planned major maintenance activities is prohibited in annual and interim financial reporting periods. GAAP defines a company's assets as the things it owns or controls that have measurable future economic
Federal Taxes Class Week 1 Assignment 1 Problems 3-31. Tom and Linda’s taxable income for 2011 is follows. First we have to subtract itemized deductions from AGI. So, $40000-$11950=$28050. Then we have to subtract 4 exemptions from $28050.
ACC5020 Week Six Assignment: Chapter 4 4-2 4-3 a) Vendors & Purchases > under recently used vendor reports click Cash Disbursements Journal, b) $2,500 4-5 a) January 1, 2010 b) January 26, 2010 c) No d) Purchases/Receive Inventory e) January Office Lease 4-7 a) “You can customize the Business Status layout at any time by clicking the Customize This Page button on the toolbar, b) Blank page with message “You have selected not to display Business Status information on this page. If you would like to add information, you can customize this pages to create a centralized place to monitor your business.”, c) 12 accounts listed, d) Accounts carry a credit balance, e) Balance is $8,394, Under Revenue: Year to date > Click view Income