Wave Corporation owns 90% of the stock of Surf, Inc. Each corporation reports the following separate items for the current tax year: WaveSurfOrdinary operating income (loss)$500,000 $(100,000)Capital gain (loss) (5,000) 7,000 Section 1231 gain (loss) 3,000 (10,000)Compute consolidated taxable income if Wave and Surf file a consolidated federal income tax return:
A. $500,000.
B. $395,000.
C. $400,000.
D. $410,000.
Answer: B
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Exhibit 15-5 On January 1, 2016, Roberts Company adopts a compensatory share option plan and grants 40 executives 1,000 shares each at $30 a share. The fair value per option is $7 on the grant date. The company estimates that its annual employee turnover rate during the service period of three years will be 4%. ? Refer to Exhibit 15-5. At the end of 2017, the company estimates that the employee
turnover will be 5% a year for the entire service period. At the end of 2018, only 30,000 options vest as only 30 of the 40 executives actually remain. The compensation expense for 2018 will be (Round off turnover calculations to three decimal places and answer to the nearest dollar.) A) $49,957 B) $70,000 C) $80,022 D) $82,575
Which of the following is not among the first five steps in the accounting cycle?
a. Record transactions in journals. b. Record closing entries. c. Adjust the general ledger accounts. d. Post entries to general ledger accounts.
Answer the following statement(s) true (T) or false (F)
1. The scholar who developed the theory of the modern bureaucracy believed that bureaucracy prospers “. . . the more it is ‘dehumanized,’ the more completely it succeeds in eliminating from official business love, hatred, and all purely personal, irrational, and emotional elements which escape calculation.” 2. The difference between moods and emotions is that emotions: (1) may be longer lasting, (2) are generally weaker in intensity, (3) may not be directly related or caused by a specific event or person. 3. People make decisions by accessing their feelings and bodily reactions, what Damasio termed somatic markers. You and I may better know somatic markers as gut feelings. 4.Trait affect refers to the affect that people are experiencing at that time point, whereas state affect refers to the more stable personality trait of positive or negative affectivity discussed earlier.
A data map is a technique for establishing a match, or balance, between the source data and the target data warehouse.
Answer the following statement true (T) or false (F)