Business, 19.04.2021 16:20, kcarstensen59070
North Inc. is a calendar-year C corporation, accrual-basis taxpayer. At the end of year 1, North accrued and deducted the following bonuses for certain employees for financial accounting purposes. $7,500 for Lisa Tanaka, a 30 percent shareholder. $10,000 for Jared Zabaski, a 35 percent shareholder. $12,500 for Helen Talanian, a 20 percent shareholder. $5,000 for Steve Nielson, a 0 percent shareholder. Unless stated otherwise, assume these shareholders are unrelated. How much of the accrued bonuses can North Inc. deduct in year 1 under the following alternative scenarios? (Leave no answer blank. Enter zero if applicable. Input all amounts as positive values.) a. North paid the bonuses to the employees on March 1 of year 2.
Answers: 2
Business, 23.06.2019 18:30, jesusmejia383
Jenna is saving for a sound system. while she is saving for her system, she finds the speakers for her system on sale for a good price and buys them. at the same time, mark is saving up to by a big-screen television. he sees some movies on sale and decides to buy them so that he can watch them on his new television when he buys it. which of the following statements best describes jenna's and mark's actions?
Answers: 1
Business, 23.06.2019 19:00, asilverman
The following selected circumstances relate to pending lawsuits for erismus, inc. erismus’s fiscal year ends on december 31. financial statements are issued in march 2019. erismus prepares its financial statements according to ifrs. required: indicate the amount erismus would record as an asset, liability, or not accrued in the following circumstances. 1. erismus is defending against a lawsuit. erismus's management believes the company has a slightly worse than 50/50 chance of eventually prevailing in court, and that if it loses, the judgment will be $2,000,000. 2. erismus is defending against a lawsuit. erismus's management believes it is probable that the company will lose in court. if it loses, management believes that damages could fall anywhere in the range of $3,000,000 to $5,000,000, with any damage in that range equally likely. 3. erismus is defending against a lawsuit. erismus's management believes it is probable that the company will lose in court. if it loses, management believes that damages will eventually be $6,000,000, with a present value of $4,500,000. 4. erismus is a plaintiff in a lawsuit. erismus's management believes it is probable that the company eventually will prevail in court, and that if it prevails, the judgment will be $2,000,000. 5. erismus is a plaintiff in a lawsuit. erismus’s management believes it is virtually certain that the company eventually will prevail in court, and that if it prevails, the judgment will be $1,000,000.
Answers: 2
North Inc. is a calendar-year C corporation, accrual-basis taxpayer. At the end of year 1, North acc...
English, 28.02.2020 18:35
History, 28.02.2020 18:35
Mathematics, 28.02.2020 18:35
Mathematics, 28.02.2020 18:37