Julio and milania are owners of falcons corporation, an s corporation. they each own 50 percent of falcons corporation. in year 1, julio and milania each received distributions of $15,000 from falcons corporation. falcons corporation (an s corporation) income statement december 31, year 1 and year 2 year 1 year 2 sales revenue $ 300,000 $ 430,000 cost of goods sold (40,000 ) (60,000 ) salary to owners julio and milania (40,000 ) (80,000 ) employee wages (25,000 ) (50,000 ) depreciation expense (20,000 ) (40,000 ) section 179 expense (30,000 ) (50,000 ) interest income (related to business) 12,000 22,500 municipal bond income 1,500 4,000 government fines 0 (2,000 ) overall net income $ 158,500 $ 174,500 distributions $ 30,000 $ 50,000 what amount of ordinary income and separately stated items are allocated to them for year 1 based on the information above?

He aldermanalderman company has prepared a sales budget of 42 comma 00042,000 finished units for a 3-month period. the company has an inventory of 10 comma 00010,000 units of finished goods on hand at december 31 and has a target finished goods inventory of 11 comma 00011,000 units at the end of the succeeding quarter. it takes 44 gallons of direct materials to make one unit of finished product. the company has inventory of 64 comma 00064,000 gallons of direct materials at december 31 and has a target ending inventory of 53 comma 00053,000 gallons at the end of the succeeding quarter. how many gallons of direct materials should aldermanalderman company purchase during the 3 months ending march 31? select the labels and enter the amounts to calculate the direct materials (gallons) to be purchased.

Xyz corporation has provided the following data concerning manufacturing overhead for july: actual manufacturing overhead incurred $ 69,000 manufacturing overhead applied to work in process $ 79,000 the company's cost of goods sold was $243,000 prior to closing out its manufacturing overhead account. the company closes out its manufacturing overhead account to cost of goods sold. which of the following statements is true? multiple choice manufacturing overhead was overapplied by $10,000; cost of goods sold after closing out the manufacturing overhead account is $253,000 manufacturing overhead was underapplied by $10,000; cost of goods sold after closing out the manufacturing overhead account is $233,000 manufacturing overhead was underapplied by $10,000; cost of goods sold after closing out the manufacturing overhead account is $253,000 manufacturing overhead was overapplied by $10,000; cost of goods sold after closing out the manufacturing overhead account is $233,000

In a chapter 7 bankruptcy, a debtor: