Prepare absorption and contribution margin income statements for the succeeding quarter for the division. • Compute production costs per unit for both approaches and for both quarters. Did Mr. Rosen improve his performance for the second quarter? Indicate the information you used for your assessment.
January 5, 2018
what is the Integrated Automated Fingerprint Identification System (IAFIS)? what are the steps for utilizing the IAFIS? Explain.
January 5, 2018

An owner takes $35,000 out of her business as a salary for 2012. Compare the income and FICA or self-employment tax burdens of an individual who owns a business that has operating income of $60,000 if the business is a. a C corporation

1) An owner takes $35,000 out of her business as a salary for 2012. Compare the income and FICA or self-employment tax burdens of an individual who owns a business that has operating income of $60,000 if the business is

a. a C corporation

b. a sole proprietorship

2) Taxpayer B has the following gains and losses from property transactions.

Long-term capital gain $5,000
Long-term capital loss 8,000
Section 1231 gain 11,000
Section 1231 loss 9,000
Short-term capital gain 2,000
Short-term capital loss 4,000

What is the effect on the taxpayer’s taxable income if Taxpayer B is:

a. a C corporation?

b. an individual?

 

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