Business, 10.03.2020 03:54 dominikkovar

Juanita owns 45% of the stock in a C corporation that had a profit of $120,000 in 2010. Carlos owns a 45% interest in a partnership that had a profit of $120,000 during the year. The corporation distributed $20,000 to Juanita, and the partnership distributed $20,000 to Carlos. Which of the following statements relating to 2010 is incorrect? Answer Juanita must report $20,000 of income from the corporation. The corporation must pay corporate tax on $120,000 of income. Carlos must report $20,000 of income from the partnership. The partnership is not subject to a Federal entity-level income tax.

Answers: 2

Show answers

Other questions on the subject: Business

Business, 22.06.2019 06:40, jordenv00

Self-interest achieve society’s economic goals because producers know which goods consumers want the most. as consumers and producers exercise their freedom to act in their own self-interest, markets will produce the desired goods at the lowest possible cost. consumers and producers both operate based on society’s economic goals. consumers know which goods can be produced at the lowest cost. there is a wide variety of desired goods and services in a market system because producers determine what to produce. consumers change their minds frequently. there is always a need to produce something new and improved. individual wants are diverse. what is produced is ultimately determined by consumers, because if the goods offered are not what consumers want, consumers will not buy them. producers, because they are driven by profits. producers, because they determine what to produce. consumers, because they participate in marketing surveys.

Answers: 2

continue

Business, 22.06.2019 10:50, Nicki3729

The uptowner just paid an annual dividend of $4.12. the company has a policy of increasing the dividend by 2.5 percent annually. you would like to purchase shares of stock in this ﬁrm but realize that you will not have the funds to do so for another four years. if you require a rate of return of 16.7 percent, how much will you be willing to pay per share when you can afford to make this investment?

Answers: 3

continue

Business, 22.06.2019 14:50, kianofou853

Ann chovies, owner of the perfect pasta pizza parlor, uses 20 pounds of pepperoni each day in preparing pizzas. order costs for pepperoni are $10.00 per order, and carrying costs are 4 cents per pound per day. lead time for each order is three days, and the pepperoni itself costs $3.00 per pound. if she were to order 80 pounds of pepperoni at a time, what would be the average inventory level?

Answers: 3

continue

Business, 22.06.2019 23:50, kaylinreed7

Harris fabrics computes its predetermined overhead rate annually on the basis of direct labor-hours. at the beginning of the year, it estimated that 34,000 direct labor-hours would be required for the period’s estimated level of production. the company also estimated $599,000 of fixed manufacturing overhead expenses for the coming period and variable manufacturing overhead of $3.00 per direct labor-hour. harris's actual manufacturing overhead for the year was $768,234 and its actual total direct labor was 34,500 hours. required: compute the company's predetermined overhead rate for the year. (round your answer to 2 decimal places.)

Answers: 2

continue

You know the right answer?

Juanita owns 45% of the stock in a C corporation that had a profit of $120,000 in 2010. Carlos owns...