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joja [24]
3 years ago
12

Strieby Corp. operates a business with three separate entities as subsidiaries that operate as a unitary business: Matty Corp.,

Kennedy Corp. and Jackson Corp.. Strieby has arranged operations so that Matty has nexus only with Texas, Kennedy has nexus only with Massachusetts, and Jackson has nexus only with California. Strieby is domiciled in California. Assuming California is unitary state, which entities will be included in the Strieby income tax return?
Business
1 answer:
Zielflug [23.3K]3 years ago
3 0

Answer:

Those that will be required to file a California return are; Matty,

Strieby, Kennedy and Jackson .

Explanation:

Those that will be required to file a California return are; Matty, Strieby, Kennedy and Jackson. From the question we are informed that all of the entities involved are operating unitary Business, which is the same concept followed by California. And we know that

Unitary business can be regarded as group of persons which are related and having interdependent business activities/operations. So in this case, single California return will be filled by the entities involved.

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Godfrey Corporation holds, as a long-term investment available-for-sale securities costing $69,000. At December 31, 2017, the fa
kodGreya [7K]

Answer:

Godfrey Corporation

GOLDFREY CORPORATION

Balance Sheet (Partial)

December 31, 2017

Noncurrent assets:

Investments:

Investment In Stock, at fair value  $64,100

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Less :

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Explanation:

a) Data and Calculations:

Long-term investment available for sale:

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Fair value             64,100

Unrealized loss  $4,900

b) The correct entry would have been to reduce the net income by the unrealized loss.  However, for simplicity, this is showed as a reduction of the Retained Earnings in the balance sheet.

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3 years ago
Help Please NO FAKE ANSWERS PLEASE I REALLY NEED HELP (economics)
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Identify the cultural differences between Greece and Switzerland as per the GLOBE project
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3 years ago
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A public good is an example of a good or product that individuals can consume or use without reducing its total availability for others. Goods like national security, sewer systems, public parks, among others, are considered as public goods. Many can benefit from it and it is considered by economists as goods that are "non-rivalrous" or "non-exclusive." <span>
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6 0
3 years ago
"if beginning inventory is $100,000, cost of goods purchased is $500,000, sales revenue is $1,000,000 and ending inventory is $1
Svet_ta [14]

<u>Calculation of cost of goods sold under a periodic system:</u>


It is given that the beginning inventory is $100,000, cost of goods purchased is $500,000, and ending inventory is $130,000. The cost of goods sold can be calculated as follows:

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7 0
3 years ago
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