Answer: All except " LLCs are best for taking venture capital" .
Explanation: 
1. The corporations have to pay corporate tax and after that the stakeholders have to pay tax on their dividends. Hence they are subject to double taxation.
2. The number of partners in a general partnerships could be  greater than two. 
3. In case of LLC and corporations, the entity is considered to separate from its owners. Hence the owners enjoy limited liability benefit. 
 
        
             
        
        
        
Answer:
Deferred tax asset balance on  December 31, 20X3 =   $115,500
Explanation:
The computation of the amount of deferred income taxes should Mill report is shown below:
<u>Year   Tax purpose   Book purpose   Difference   Deferred tax book
</u>
20X1     $400,000          $0                $400,000        $84,000
20X2    $625,000     $375,000         $250,000        $52,500
20X3     $750,000     $850,000        ($100,000)        ($21,000)
Deferred tax asset balance on  December 31, 20X3 =   $115,500
 
        
             
        
        
        
Answer:
Utilizing his saving as a down payment and buying the car using an auto loan.
Explanation:
 
        
             
        
        
        
Answer:
a. FIFO - Inventory Used: $39900  Remaining Inventory: $14700
b. LIFO - Inventory Used: $41700 Remaining Inventory: $12900
c. Weighted Average Cost - Inventory Used: $40950 Remaining Inventory: $13650
Explanation:
Jan 01. Beginning inventory = 40 x $165 = $6600
Aug 13. Purchases 200 x $180 = $36000
Nov 30. Purchases 60 x $200 = $12000
Ending inventory = 75 units
Inventory Used = 300 – 75 = 225
(a) First-In-First-Out (FIFO)
This is the method where the inventory first received is the one that is used first. Common method when the inventory is perishable and would be wasted if left too long.
Inventory Used:
40 x $165 = $6600
185 x $180 = $33300
Total = $39900
Remaining Inventory:
15 x $180 = $2700
60 x $200 = $12000
Total = $14700
(b) Last-In-First-Out
Method whereby the inventory received latest is used first. Common in goods that are bulky. the inventory on top (latest purchased) is used first.
Inventory Used:
60 x $200 = $12000
165 x $180 = $29700
Total = $41700
Remaining Inventory:
40 x $165 = $6600
35 x $180 = $6300
Total = $12900
(c) Weighted Average Cost
This is whereby you divide the cost of goods sold by the number of units available for sale.
54,600 / 300 = $182
Inventory Used: 225 x $182 = $40950
Remaining inventory = 75 x $182 = $13650