A corporation has taxable income from operations of $1 million. In addition, it received $100,000 of dividend income from very minor holdings in publicly held corporations. The corporation will be have a tax liability of
A) $210,000.
B) $231,000.
C) $217,350.
D) $220,500.
D) $220,500.
Taxable income before special deductions is $1,100,000. The corporation will be allowed a $50,000 dividends-received deduction, resulting in taxable income of $1,050,000. Applying a flat tax rate of 21%, the tax liability will be $220,500.
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A) Erin deposits $15,000 in a bank account in the name of Erin's Lawn Service. B) Erin provided services to customers earning fees of $600. C) Erin purchased hedge trimmers for her lawn service agreeing to pay the supplier next month. D) Erin pays her monthly personal credit card bill.
Marketing research helps managers gauge the perceived value of their goods and services, as well as the level of customer satisfaction
Indicate whether the statement is true or false a. True b. False
Ogilvie, a director of Pitstop Service Station Corporation, does not attend a board meeting for three years. During that time, Noreen, Pitstop's president, makes improper loans that cost the company $100,000. Ogilvie is most likely
A. liable for negligence or mismanagement. B. liable for violation of the business judgment rule. C. not liable because missing meetings is an honest mistake. D. not liable because missing meetings is only poor judgment.
The setup cost to make a carpet is $20 per setup. The holding cost is $2.00 per yard per year, and the annual demand is 12,000 yards. The manufacturing facility operates 300 days, and 120 yards of the carpet are produced per day. Given this information, what is total annual carrying cost?
a. $600 b. $500 c. $400 d. $300