Which of the following metrics does a company apply during an operating period rather than at the end of the operating period?
A) sales revenues
B) market share
C) inventory turnover
D) customer retention
E) return on assets
C
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Clampett, Inc., converted to an S corporation on January 1, 2019. At that time, Clampett, Inc., had cash ($40,000), inventory (FMV $60,000, basis $30,000), accounts receivable (FMV $40,000, basis $40,000), and equipment (FMV $60,000, basis $80,000). In 2020, Clampett, Inc., sells its entire inventory for $60,000 (basis $30,000). Assume the corporate tax rate is 21 percent and that Clampett Inc.'s taxable income would have been a $50,000 loss in 2020 if it had been a C corporation. In 2021, Clampett, Inc.'s taxable income would have been $100,000 if it had been a C corporation. How much built-in gains tax does Clampett, Inc., pay in 2020? In 2021?
A. $0 in 2020; $0 in 2021. B. $0 in 2020; $10,500 in 2021. C. $10,500 in 2020; $0 in 2021. D. $2,100 in 2020; $0 in 2021. E. None of the choices are correct.
Rogers Company reported net income of $35,000 for the year. During the year, accounts receivable increased by $7,000, accounts payable decreased by $3,000 and depreciation expense of $8,000 was recorded. Net cash provided by operating activities for the year is
A) $53,000. B) $47,000. C) $33,000 D) $37,000.
According to the signaling theory, when should a firm use debt to finance beyond the normal target capital structure?
A. When the debt/assets ratio is greater than one B. When marginal tax shelter benefits are equal to marginal bankruptcy-related costs C. When investors and managers have identical information about the firm's prospects D. When the firm has favorable prospects E. When the firm is entirely equity financed
In which of the countries below do you expect people to watch TV most?
a. Denmark b. Italy c. France d. The Netherlands