Volunteer corporation reported taxable income of $500,000 from operations for 2010. the company paid federal incometaxes of $170,000 on this taxable income. during the year, the company made a distribution of land to its sole shareholder, rocky topp. the land’s fair market value was $75,000 and its tax and e& p basis to volunteer was $25,000. rocky assumeda mortgage attached to the land of $15,000. any gain from the distribution will be taxed at 34 percent the company hadaccumulated e843 of $750,000 at the beginning of the year. a. compute volunteer‘s total taxable income and federal income tax paid as a result of the distribution. b. compute volunteer‘s current e& p for 2010.c. compute volunteer’s accumulated e& p at the beginning of 2011.d. what amount of dividend income does rocky report as a result of the distribution? e. what is rocky's income tax basis in the land received from volunteer?

The cutting department of cassel company has the following production and cost data for july. production costs 1. transferred out 12,300 units. beginning work in process $0 2. started 3,900 units that are 60% materials 62,856 complete as to conversion labor 12,622 costs and 100% complete as manufacturing overhead 23,100 to materials at july 31. materials are entered at the beginning of the process. conversion costs are incurred uniformly during the process. determine the equivalent units of production for (1) materials and (2) conversion costs. materials conversion costs total equivalent units of production link to text link to text compute unit costs. (round unit costs to 2 decimal places, e. g. 2.25.) materials $ conversion costs $ link to text link to text prepare a cost reconciliation schedule. (round unit costs to 2 decimal places, e. g. 2.25 and final answers to 0 decimal places, e. g. 1,225.) cost reconciliation costs accounted for transferred out $ work in process, july 31 materials $ conversion costs total costs $

Kelso electric is debating between a leveraged and an unleveraged capital structure. the all equity capital structure would consist of 40,000 shares of stock. the debt and equity option would consist of 25,000 shares of stock plus $280,000 of debt with an interest rate of 7 percent. what is the break-even level of earnings before interest and taxes between these two options?

Todd and jim learned that in building a business plan, it was important for them to: