On July 5, 2021, a fire destroyed the entire inventory of Kinard Music Mart. The following information is available from its accounting records: Inventory, January 1, 2021 $ 211,000 Purchases, Jan. 1 — July 5 500,000 Sales, Jan. 1 — July 5 900,000 Normal gross margin 30% Required: Compute the estimated cost of inventory lost in the fire.

How will firms solve the problem of an economic surplus a. decrease prices to the market equilibrium price b. decrease prices so they are below the market equilibrium price c.increase prices

Colter steel has $5,550,000 in assets. temporary current assets $ 3,100,000 permanent current assets 1,605,000 fixed assets 845,000 total assets $ 5,550,000 assume the term structure of interest rates becomes inverted, with short-term rates going to 10 percent and long-term rates 2 percentage points lower than short-term rates. earnings before interest and taxes are $1,170,000. the tax rate is 40 percent earnings after taxes = ?

Coop inc. owns 40% of chicken inc., both coop and chicken are corporations. chicken pays coop a dividend of $10,000 in the current year. chicken also reports financial accounting earnings of $20,000 for that year. assume coop follows the general rule of accounting for investment in chicken. what is the amount and nature of the book-tax difference to coop associated with the dividend distribution (ignoring the dividends received deduction)?