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Carolyn has a 50 percent interest in a general partnership that has a $14,000 loss for the year. she materially participates in the partnership. her basis in the partnership is $10,000. she also has salary from other employment of $46,000. if she is single, has no dependents, and claims the standard deduction, what is her taxable income and her tax liability in 2017

Connors academy reported inventory in the 2017 year-end balance sheet, using the fifo method, as $154,000. in 2018, the company decided to change its inventory method to lifo. if the company had used the lifo method in 2017, the company estimates that ending inventory would have been in the range $130,000-$135,000. what adjustment would connors make for this change in inventory method?

Newton industries is considering a project and has developed the following estimates: unit sales = 4,800, price per unit = $67, variable cost per unit = $42, annual fixed costs = $11,900. the depreciation is $14,700 a year and the tax rate is 34 percent. what effect would an increase of $1 in the selling price have on the operating cash flow?