<span>It is called accelerate deductions.
Postponing income and accelerating deductions are two techniques commonly employed by taxpayers to minimize tax liability during the current year. These techniques are part of year-end tax planning.</span>
good first step is to say "hey"
next be urself
also ill be ur friend lol
Answer:
Explanation:
Financing Business and Personal Aetivities money to start a basiness might result in financial difficulties later on for the business. If you use your own savings to start a business, you might face personal financial problems. What should you do? The answer is not easy. However, you would need to consider sales, expenses, and cash flow in making your decision. Initial sales for the 3D printing business are estimated at $2,200 a month. Sales are expected to grow about 10 percent every six months. However, from this sales various besiness expenses miast be deducted. These include rent, utilities, supplies, advertising, salaries, and insurance. s there is incressed interest in and market opportunities for 3D printing, Monica and Ami have decided to purchase equipment that would serve the marketing needs of various local basinesses. Their 3D printing business would provide product prototypes, innovative marketing materials, and ereative point-of -sale displays. The cost of the equipment and other business start-up expenses are estimated at s6,400. Monica and Ami need to decide whether to use their personal funds or take out a loan to launch the business. A major cause of business failure is poor cash flow. Monica and Ami need to carefully monitor their cash inflows from sales and their cash outflows for business expenses. Creating and maintaining a cash flow statement is a vital record keeping activity for every business. Monica and Ami hope to establish a consistent cash flow from regular eustomers that is complemented by additional revenue from holiday season sales and new eustomers As they plan to move forward with their new enterprise, Monica is interested in obtaining a loan to finance the business startup. Ami believes they should use their personal funds. Monica believes a loan would cause less stress on their personal assets and allow them to maintain needed funds for personal financial emergencies Ami is concerned about the risk of the loan in the event they are not able to make the required payments. Before they move forward, this difference between the owners must be resolved.
Answer:
Part a
$55,000
Part b
Debit : Common Stock $92,000
Debit : Retained Earnings $130,000
Debit : Revaluation Reserve ($20+ $185) $205,000
Debit : Goodwill $55,000
Credit : Investment in Subsidiary - Socket Corporation $482,000
Explanation:
Goodwill is the excess of Purchase price over the Net Assets Taken over at acquisition date.
The Net Assets taken over can be presented by the Equity of the Investee. That is the sum of Common Stock, Retained Earnings and Revaluation Reserves made to reflect fair value adjustments at acquisition date.
Note how the Revaluation Reserve ended with $205,000 following increase of $20,000 on value of land and $185,000 on value of buildings to reflect fair values.
The elimination journal needs to be prepared at consolidation to eliminate common items as reflected by Part b above.
