Aqua, Inc., a calendar year corporation, records the following gross receipts and taxable income for 2010-2013. Aqua's
Question:
Year Gross Receipts Taxable Income
2010..................$6,000,000...............$1,400,000
2011...................7,000,000..................1,312,000
2012..................7,500,000.....................985,000
2013..................7,200,000..................1,002,000
a. When is Aqua first exempt from the AMT as a small corporation?
b. Is Aqua subject to the AMT for 2013? Explain.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 70% (10 reviews)
a Aqua is first exempt from the AMT for 2010 as a small corporation ...View the full answer
Answered By
Ashington Waweru
I am a lecturer, research writer and also a qualified financial analyst and accountant. I am qualified and articulate in many disciplines including English, Accounting, Finance, Quantitative spreadsheet analysis, Economics, and Statistics. I am an expert with sixteen years of experience in online industry-related work. I have a master's in business administration and a bachelor’s degree in education, accounting, and economics options.
I am a writer and proofreading expert with sixteen years of experience in online writing, proofreading, and text editing. I have vast knowledge and experience in writing techniques and styles such as APA, ASA, MLA, Chicago, Turabian, IEEE, and many others.
I am also an online blogger and research writer with sixteen years of writing and proofreading articles and reports. I have written many scripts and articles for blogs, and I also specialize in search engine
I have sixteen years of experience in Excel data entry, Excel data analysis, R-studio quantitative analysis, SPSS quantitative analysis, research writing, and proofreading articles and reports. I will deliver the highest quality online and offline Excel, R, SPSS, and other spreadsheet solutions within your operational deadlines. I have also compiled many original Excel quantitative and text spreadsheets which solve client’s problems in my research writing career.
I have extensive enterprise resource planning accounting, financial modeling, financial reporting, and company analysis: customer relationship management, enterprise resource planning, financial accounting projects, and corporate finance.
I am articulate in psychology, engineering, nursing, counseling, project management, accounting, finance, quantitative spreadsheet analysis, statistical and economic analysis, among many other industry fields and academic disciplines. I work to solve problems and provide accurate and credible solutions and research reports in all industries in the global economy.
I have taught and conducted masters and Ph.D. thesis research for specialists in Quantitative finance, Financial Accounting, Actuarial science, Macroeconomics, Microeconomics, Risk Management, Managerial Economics, Engineering Economics, Financial economics, Taxation and many other disciplines including water engineering, psychology, e-commerce, mechanical engineering, leadership and many others.
I have developed many courses on online websites like Teachable and Thinkific. I also developed an accounting reporting automation software project for Utafiti sacco located at ILRI Uthiru Kenya when I was working there in year 2001.
I am a mature, self-motivated worker who delivers high-quality, on-time reports which solve client’s problems accurately.
I have written many academic and professional industry research papers and tutored many clients from college to university undergraduate, master's and Ph.D. students, and corporate professionals. I anticipate your hiring me.
I know I will deliver the highest quality work you will find anywhere to award me your project work. Please note that I am looking for a long-term work relationship with you. I look forward to you delivering the best service to you.
3.00+
2+ Reviews
10+ Question Solved
Related Book For
South Western Federal Taxation 2014 Comprehensive Volume
ISBN: 9781285180922
37th Edition
Authors: William H. Hoffman, David M. Maloney, William A. Raabe, James C. Young
Question Posted:
Students also viewed these Business Law questions
-
Bettner, Inc., is a calendar year corporation whose financial statements for 2012 and 2013 included errors as follows: Assume that purchases were recorded correctly and that no correcting entries...
-
Aqua, Inc., a calendar year corporation, has the following gross receipts and tax able income for 2011-2014: Aqua's first year of operations was 2011. a. When is Aqua first exempt from the AMT as a...
-
Campbell, Inc., a calendar year corporation created in February 2011, has gross receipts as follows: Year Gross Receipts 2011 .. $2,990,220 2012 .. 3,310,763 2013 .. 4,885,027 2014 .. 7,626,681 2015...
-
Why would senior managers want to distort factor prices by using cost allocations?
-
The Golden Company adopted the dollar-value retail LIFO method on January 1, 2007. The following information relates to the following 2 years: In addition the following price indexes are available:...
-
Write the polynomial (a) as the product of factors that are irreducible over the rationals, (b) as the product of linear and quadratic factors that are irreducible over the reals, and (c) in...
-
The CEO of Evans \& Sons, Inc., was considering a lease for a new administrative headquarters building. The building was old, but was very well located near the company's principal customers. The...
-
The Jacksons are considering selling their current residence, buying a small home near Averys parents for $220,000 with a $100,000 30-year mortgage at 3.5%, and investing the net proceeds in their...
-
You work for Apple. After toiling away on $10.1 million worth of prototypes, you have finally produced your answer to Google Glasses: iGlasses (the name alone is genius). iGlasses will instantly...
-
In a pretest, data on Nike were obtained from 45 respondents. These data are given in the following table, which gives the usage, sex, awareness, attitude, preference, intention, and loyalty toward...
-
Bonnie, who is single, has taxable income of $0 in 2013. She reports positive timing adjustments of $200,000 and AMT exclusion items of $100,000 for the year. What is Bonnie's AMT credit for...
-
Gray Corporation (a calendar year corporation) reports the following information. Compute Gray's ACE adjustment for each year. 2012 2013 2014 Unadjusted...
-
In 2009, a study was done on the impact of sea-level rise in the mid-Atlantic states. Let a(t) be the depth of the sea in millimeters (mm) at a typical point on the Atlantic Coast, and let m(t) be...
-
A bank pays interest at 6% per annum compounded every half-year. 1 How many times a year does it pay interest? 2 What percentage interest does it pay each time? 3 Complete the following table: 6%...
-
Question 1 (1 point) In the simple economy of OCCland, we need to figure out their nominal GDP given the following information: OCCland produces 100 bags of Tea per year at $20 per bag, 75 new...
-
1. Identify five (5) food safety practices you should follow to prevent transferring bacteria from your body and clothing to the cheese and cheese preparation equipment when preparing, storing and...
-
On January 2, 2019, Flint Corporation issued $1,950,000 of 10% bonds to yield 11% due December 31, 2028. Interest on the bonds is payable annually each December 31. The bonds are callable at 101...
-
Due Thursday, May 4 by midnight to be submitted as a homework on STIX. Prepare a short report on information requirements of a small business (Grocery Store example). Prepare your work as an...
-
Apex is a private company that manufactures pharmaceutical drugs. It is now December 15, 2020, and you are planning to attend the December 31 inventory count. Apexs year-end is December 31, 2020....
-
Write a declaration for each of the following: a. A line that extends from point (60, 100) to point (30, 90) b. A rectangle that is 20 pixels wide, 100 pixels high, and has its upper-left corner at...
-
Caden and Lily are divorced on March 3, 2015. For financial reasons, however, Lily continues to live in Caden's apartment and receives her support from him. Caden does not claim Lily as a dependent...
-
Compute the 2016 standard deduction for the following taxpayers. a. Margie is 15 and claimed as a dependent by her parents. She has $800 in dividend income and $1,400 in wages from a part-time job....
-
Compute the 2016 standard deduction for the following taxpayers. a. Margie is 15 and claimed as a dependent by her parents. She has $800 in dividend income and $1,400 in wages from a part-time job....
-
Each student will work research, write, and present a paper that explores a possible entrepreneurial venture for a company that is not currently doing business in any developing/third-world...
-
When do you consider a message to be positive? Please list a few criteriaof how you identify a message to be positive?
-
Laureen is an unmarried taxpayer, filing head of household. She has two dependent children (7-year-old twins) who lived with her all year. Her 2022 earned income was $ 19 comma 700, her AGI was $ 23...
Study smarter with the SolutionInn App