Assume that the Board of Directors has chosen to assign $523,000 of the cooperative's Net Income to

Fantastic news! We've Found the answer you've been seeking!

Question:

Assume that the Board of Directors has chosen to assign $523,000 of the cooperative's Net Income to the Unallocated Reserve (rather than the actual value of $132,170): Who is liable for the federal and state income taxes on the $523,000?

Related Book For answer-question

Cost Accounting

ISBN: 978-0759338098

14th edition

Authors: William K. Carter

See More Books

Posted Date: Apr 07, 2024 07:44 PM

See More Questions

The Crazy Eddie fraud may appear smaller and gentler than the massive billion-dollar frauds exposed in recent times, such as Bernie Madoffs Ponzi scheme, frauds in the subprime mortgage market, the...
Explain the meaning of the terms emoluments, employments and office for the purposes of PAYE as you earn systems. 2. Explain the actual receipts basis of assessing the emoluments from the employment...
Let B > 0. Show that the maximum of subject to the constraints x + this to conclude that f(x,...,xn) = X1 X2 Xn for all positive numbers a,..., an. . + xn = B and xj 0 for j = 1,. n occurs for x =...
Put together a Black-Scholes option calculator in Excel to answer the following. (a) What is the call-option value with S0 = $40, K = $40, r = 6%, T = 14 months, and volatility = 40%? (b) What is the...
Which do you expect to have the higher vapor pressure at room temperature, octane, C 8 H 18 , or butane, C 4 H 10 ? Why?
A proton moves in the positive $x$ direction at $4.00 \times 10^{4} \mathrm{~m} / \mathrm{s}$. Calculate the magnitude of the magnetic field at the point \((x, y)=(+2.00 \mathrm{~mm},+1.00...
Dance Creations manufactures authentic Hawaiian hula skirts that are purchased for traditional Hawaiian celebrations, costume parties, and other functions. During its first year of business, the...
A student addresses a bully mocking another student, " what you're doing isn't even clever or funny, everyone has a right ti express who they are.. you know like we say every morning.. liberty and...
From the scenario, analyze TFC's cash budget to determine key methods in which the budget may be optimized (e.g., by renegotiating terms and conditions on some of its payables, etc.). If you believe...
The From the Field boxed feature describes how Alex Pettes manages his time for selfimprovement. Why is it important for salespeople to have a selfimprovement plan?
What are the key success factors in conducting economic value estimation (EVE)?
What are the characteristics of the four archetypes of smart-product-services in the manufacturing industry?
Fill in the blanks to make the following statements correct. a. It is difficult to compare two or more data series when absolute numbers and different units are used. For that reason we construct...
Two commonly used frameworks developed by COSO are COSO 2013 internal control framework and the COSO ERM 2017 framework. What are the differences between the two frameworks?
Write a brief essay describing lobal societal problem minimum wage Address the following items in separate sections with new headings for each: Identify the global societal problem within the...
Keating & Partners is a law firm specializing in labour relations and employee-related work. It employs 25 professionals (5 partners and 20 managers) who work directly with its clients. The average...
Alma, Inc., manufactures high-pressure cleaners for large transportation companies. It uses standard costing and allocates variable and fixed manufacturing overhead based on machine-hours. For each...
Michael Roberts is a cost accountant and business analyst for Darby Design Company (DDC), which manufactures expensive brass doorknobs. DDC uses two direct-cost categories: direct materials and...
Omegas Fleet Feet, Inc., produces dance shoes for stores all over the world. While the pairs of shoes are boxed individually, they are crated and shipped in batches. The shipping department records...

Assume that the Board of Directors has chosen to assign $523,000 of the cooperative's Net Income to

Question:

Expert Answer:

In a cooperative structure the allocation of net income to reserves or retained ... View the full answer

Cost Accounting

Students also viewed these accounting questions