On january 1 of the year of acquisition, ashley inc. pays $300,000 for 60% of marea co.'s outstanding common stock. marea reported common stock on that date of $250,000 with retained earnings of $100,000. equipment, which had a ten-year remaining life, was undervalued in marea's financial records by $20,000. during the due diligence process, it was discovered that marea had a patent that was not on the books, but had a market value of $50,000. the patent has a useful life of 10 years. marea earns income and pays cash dividends as follows: what is the non-controlling interest in mareas's second year income?

As you start to review the various career options available to you, you will notice that not every career will require what?

Hanna intends to give her granddaughter, melodee, her antique hat pin. this heirloom has been kept under lock and key in the wall vault in the library of hanna's house in virginia. the hat pin is currently the only item in the vault. when hanna is visiting melodee in connecticut, hanna gives melodee the only key to the vault. melodee is grateful for the present and excitedly accepts. in this situation has there been a completed gift?

Benton company (bc), a calendar year entity, has one owner, who is in the 37% federal income tax bracket (any net capital gains or dividends would be taxed at a 20% rate). bc's gross income is $395,000, and its ordinary trade or business deductions are $245,000. ignore the standard deduction (or itemized deductions) and the deduction for qualified business income. if required, round computations to the nearest dollar. a. bc is operated as a proprietorship, and the owner withdraws $100,000 for personal use. bc's taxable income for the current year is $ , and the tax liability associated with the income from the sole proprietorship is $ . b. bc is operated as a c corporation, pays out $100,000 as salary, and pays no dividends to its shareholder. bc's taxable income for the current year is $ , and bc's tax liability is $ . the shareholder's tax liability is $ . c. bc is operated as a c corporation and pays out no salary or dividends to its shareholder. bc's taxable income for the current year is $ , and bc's tax liability is $ . d. bc is operated as a c corporation, pays out $100,000 as salary, and pays out the remainder of its earnings as dividends. bc's taxable income for the current year is $ , and bc's tax liability is $ .