346 homework 1 (1) - Intro The worksheet that follows provides a pro forma workpaper to help you solve the assigned homework problem It organizes your

346 homework 1 (1) - Intro The worksheet that follows...

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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 Intro e assigned he analytical er than workpaper he answers that skills and om checking the rom roblem that you problem submit it in the on about the cell mation only in the Page 2 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 Method Tax Base Valuation…. Period Items Property Realty Personalty legal owner legal owner yearly yearly buildings, land, houses stock, bonds, cars Transactions Sales Use Severence purchaser buyer producer,first buyer per transaction per transaction per purchase non-esential items out of state items natural resources Gratutitous Transfers Gift Estate donor person who inherits time of donation decendent's death any tangible donation item. real estate inheritance Income U.S. Individual U.S. Corporation self employer worker yearly net income every paycheck, as you g employment income ...
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  • Spring '13
  • Accounting, Taxation in the United States, tax base

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