Hwk01 - Intro The worksheet that follows provides a pro...

This preview shows page 1 out of 2 pages.

Unformatted text preview: Intro The worksheet that follows provides a pro forma workpaper to help you solve the assigned homework problem. It organizes your solution in a manner that is consistent with the analytical methods that we discuss in class and allow you to focus on the technical issues, rather than workpaper techniques and computer skills. However, you should continuously analyze the organization of the solution and the answers that you receive, as you work the problems. That is the only way that you will learn the skills and techniques that you will need for your long-term success. You should also refrain from checking the correct answers until after you have completed your solution. Click on the appropriate tab below to move to the worksheet for the homework problem that you want to work on. Once you have completed the assignment, save the file to your computer, then submit it in the manner prescribed in the course syllabus. NOTE: Cells with red dots in them contain notes that provide additional information about the cell contents. Double click on those cells to read the notes. Also, you need enter information only in the cells that are highlighted in bright yellow. Page 1 For each tax in column A in the table below, record the entity responsible for paying the tax (col. D), the period (or event) when the tax base is valued (col. F), and the items that are included in the tax base (col. G). Ignore the columns that are greyed out. You can find information about these taxes in chapter 1 of the text. Tax Tax Rate Schedule Brackets % Tax Paying Entity Tax Base Valuation…. Period Method Items Property Realty Personalty Property Owner Business Owner Yearly Yearly Transactions Sales Use Severence Buyer Buyer/User User Point of Sale General goods Upon use, consumption or storage General goods from out of state Upon extraction Natural resources Gratutitous Transfers Gift Estate Donee Estate Upon gift Date of death or 6mo later Anything that can be of value Property Income U.S. Individual U.S. Corporation Individual Corporation Yearly Quarterly or Fiscal year Income Income, personal property, payrol Building, land and fixtures Anything other than realty ...
View Full Document

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture