Preparing a budgeted income statement oliver company provided the following information for the coming year: units produced and sold 160,000 cost of goods sold per unit $6.30 selling price $11 variable selling and administrative expenses per unit $1.10 fixed selling and administrative expenses $423,000 tax rate 18 % required: prepare a budgeted income statement for oliver company for the coming year. round all income statement amounts to the nearest dollar. oliver company budgeted income statement for the coming year sales $
cost of goods sold
gross margin $
less: variable selling and administrative expenses
less: fixed selling and administrative expenses
operating income $
less: income taxes
net income $

According to herman, one of the differences of managing a nonprofit versus a for-profit corporation is

Net income and owner's equity for four businesses four different proprietorships, jupiter, mars, saturn, and venus, show the same balance sheet data at the beginning and end of a year. these data, exclusive of the amount of owner's equity, are summarized as follows: total assets total liabilities beginning of the year $550,000 $215,000 end of the year 844,000 320,000 on the basis of the preceding data and the following additional information for the year, determine the net income (or loss) of each company for the year. (hint: first determine the amount of increase or decrease in owner's equity during the year.) jupiter: the owner had made no additional investments in the business and had made no withdrawals from the business. mars: the owner had made no additional investments in the business but had withdrawn $36,000. saturn: the owner had made an additional investment of $60,000 but had made no withdrawals. venus: the owner had made an additional investment of $60,000 and had withdrawn $36,000. jupiter net income $ mars net income $ saturn net income $ venus net income $

Rachel died in 2014 and her executor is finalizing her estate tax return. the executor has determined that rachel’s adjusted gross estate is $10,120,000 and that her estate is entitled to a charitable deduction in the amount of $500,000. using 2014 rates, calculate the estate tax liability for rachel’s estate.