Homework Chapter 5
Homework Chapter 5
The $60,000 compensation is part of a policy provided by the company, and not an amount owed
to the employee. Therefore, the amount is excluded from gross income
Homework Chapter 14
Depreciation Net Value
Total ordinary gain of $54,000
Sale Price Gain/Loss
47,000 Ordinary Gain
(7,000) Loss 1231
Homework Chapter 4
Freda actually received $210,000 in 2016
Freda's willingness to spread her salary over a longer perior of time is due to her benefitting from
avoiding tax on the income which is being moved to 2017. She may have d
CORPORATIONS: DISTRIBUTIONS IN COMPLETE LIQUIDATION
AND AN OVERVIEW OF REORGANIZATIONS
In a complete liquidation, the corporation terminates as does the shareholders ownership.
Liquidations generally prod
Corporations: Distributions Not in Complete Liquidation
2338. Distributions by a corporation to its shareholders are presumed to be a return of capital unless the
parties can prove otherwise.
2339. A distribution from a corpor
CORPORATIONS: DISTRIBUTIONS NOT
IN COMPLETE LIQUIDATION
Distributions by a corporation to its shareholders are presumed to be dividends unless the
parties can prove otherwise. Section 316 makes s
OVERVIEW OF PARTNERSHIP TAXATION
Partnerships are not treated as separate tax entities for Federal income tax purposes.
All items of income, gain, loss, deduction, or credit pass through to the partners
570 Lec. Notes, S Corps-1
I. S Corporation Requirements.
A. Shareholder Requirements.
1. Limits on Number Cannot > 100.
a. Husband & wife = 1
b. Up to 6 generations in family = 1
2. Limits on types of shareholders.
CORPORATIONS: ORGANIZATION AND CAPITAL STRUCTURE
ORGANIZATION OF AND TRANSFERS TO CONTROLLED CORPORATIONS
Under 351, neither gain nor loss is recognized on the transfer by one or more persons of
property to a corpora
Corporations: Distributions in Complete Liquidation and an Overview of Reorganizations
2478. Legal dissolution under state law is not required for a liquidation to be complete for tax purposes.
2479. One difference between the
CORPORATIONS: INTRODUCTION AND
TAX TREATMENT OF VARIOUS BUSINESS FORMS
Business forms include: sole proprietorships, partnerships, trusts and estates, Subchapter S
corporations, and regular Subchapter C corporat
S corporations are treated as partnerships under state laws.
Liabilities affect the owners basis differently in an S corporation versus a partnership.
REF: p. 22-3
S corporation status allows sha
The Indus people needed river water to drink, wash and to irrigate their fields. They used water
in religious ceremonies. They made boats to travel up and down the rivers. To the Indus
people, their river was The King River.
The Indus Valley Civilis
My name is Melissa Lacayo and I will be a sophomore next semester at CUA. My first language is Spanish
and sometimes I have a hard time expressing myself in English. I am studying architecture, and so far I
love it. It is sometimes very time consuming, an
ACCOUTING CHAPTERS 5,6,8 AND 9
1. CHAPTER 5
A. Operating cycle- 3 primary transactions
The purchase of merchandise and its placement in inventory
The removal of merchandise from inventory when sold and delivered to the
Chapter 1 BCRQ #1-12
1. Statistics are important in business because they give a quantitative, hard, and clear picture of
how a business is operating.
2. Data is the raw numbers collected through different types of measurement processes, whereas
Airline Pricing Model
Unit price $
Number of flights/day
Total Revenue $366,666.67
Fixed Cost $ 270,000.00
Chapter 2 BCRQ #7-10/12-16
Standard deviation shows how spread out a set of data is. It is important for drawing
conclusions about risk because its unit of measure is the same as the units of the data. This makes it
more easily compared to other statis
Chapter 5 BCRQ #1-10, 12, 14-16
Hypothesis testing involves drawing inferences about two contrasting hypotheses relating to the
value of a population parameter. The process of hypothesis testing involves 5 steps;
Chapter 4 BCRQ #1-2, 6-16, 19, 20
1. Sampling is important for managers to gain good data that is representative of an entire population.
They must make sure they are sampling the correct demographic, as well as getting a sample size large
enough to be a
Cell Phone Survey
Signal Value for Customer
strength the Dollar Service
Mean= 30 mpg
Standard Deviation= 1.5
Probability for X >
Probability for a Range
From X Value
Chapter 3 BCRQ 7-10/ 12-16
7. A random variable is a numerical description of the outcome of an experiment. Discrete random
variables have outcomes which can be counted, while continuous random variables have outcomes over
one or more c
Assignment CH 11
11-3 The manager of a cost center has control over cost, but not revenue or the use of
investment funds. A profit center manager has control over both cost and revenue. An
investment center manager has control over cost and rev