Business, 19.12.2019 02:31, fifamonkey772
Inkglot technologies, a medium-sized corporation, is allowed to have only 35 stockholders at any point of time. however, all stockholders of the company can actively participate in the management of the company while still maintaining limited liability. given this information, inkglot technologies is most likely a(n): a. s corporation.
b. c corporation.
c. not-for-profit corporation.
d. statutory close corporation.
Answers: 1
Business, 22.06.2019 10:50, dbhuggybearow6jng
Melissa is a very generous single woman. before this year, she had given over $11,400,000 in taxable gifts over the years and has completely exhausted her applicable credit amount. in the current year, melissa gave her daughter riley $100,000 and promptly filed her gift tax return. melissa did not make any other gifts this year. how much gift tax must riley pay the irs because of this transaction?
Answers: 2
Business, 22.06.2019 20:20, gbrightwell
Reynolds corp. factors $400,000 of accounts receivable with mateer finance corporation on a without recourse basis on july 1, 2015. the receivables records are transferred to mateer finance, which will receive the collections. mateer finance assesses a finance charge of 1 ½ percent of the amount of accounts receivable and retains an amount equal to 4% of accounts receivable to cover sales discounts, returns, and allowances. the transaction is to be recorded as a sale. required: a. prepare the journal entry on july 1, 2015, for reynolds corp. to record the sale of receivables without recourse. b. prepare the journal entry on july 1, 2015, for mateer finance corporation to record the purchase of receivables without recourse— think through this. c. explain the difference between sale of receivables with recourse as oppose to without recourse.
Answers: 2
Inkglot technologies, a medium-sized corporation, is allowed to have only 35 stockholders at any poi...
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