As of January 1, Cassowary Corporation has a deficit in accumulated E & P of $100,000 . For the tax year, current E & P (accrued ratably) is $240,000 (prior to any distributions). On July 1, Cassowary Corporation distributes $275,000 to its sole shareholder. The amount of the distribution that is a dividend is:
a. $20,000.
b. $140,000.
c. $240,000.
d. $275,000.
e. None of the above.
c
RATIONALE: The distribution is taxed to the extent of current E & P ($240,000).
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Jahncke Inc. uses the weighted-average method in its process costing. The following data concern the company's Assembly Department for the month of November. MaterialsConversionWork in process, November 1$3,600$1,902Cost added to production in the Assembly Department during November$103,882$278,010Equivalent units of production for November 8,810 8,720 Required:Compute the costs per equivalent unit for the Assembly Department for November.
What will be an ideal response?
Readers of the financial pages of the daily newspaper noticed the following information with regard to the Connor Company stock: Daily high, 45.50; Daily low, 42.25; Last, 43.50; Change, +0.75 . This tells readers that the
a. stock was selling at 43.50% of par at the close of the day. b. stock gained $3.00 in value over the previous day. c. stock gained $.75 in value over the previous day. d. company's stock is a popular investment.
Two kitchen workers got into an argument about whose turn it was to clean up the work station. The argument escalated into a food fight that cost the restaurant hundreds of dollars in food supplies. The kitchen manager disciplined both workers, giving one a two-day suspension and the other a four-day suspension. The kitchen manager’s actions violated the __________ part of the OUCH test.
A. Objective B. Uniform in Application C. Consistent in Effect D. Has Job Relatedness E. None of the above
If it takes 40 hours to complete the first unit and the company knows from experience that the learning rate should be 0.80, how fast can they be expected to finish all twelve units?
A) 18 hours B) 289 hours C) 264 hours D) 316 hours