Santorini Corporation has experienced a number of out-of-stock situations with respect to its finished-goods inventories. Inventory at the end of May, for example, was only 50 units—an all-time low. Management desires to implement a policy whereby finished-goods inventory is 70% of the following month's sales. Budgeted sales for June, July, and August are expected to be 5,000 units, 5,600 units, and 5,500 units, respectively. Required: Determine the number of units that Santorini must produce in June and July.

BBY is a calendar year accrual method corporation with a marginal and effective tax rate of 34%. It had $5,000,000 of financial income before making the following cash payments on December 31,2011: $4,000 paid to a consultant for work to be performed in January 2012. $600,000 for equipment delivered on December 1, 2011. The equipment has a useful life of 10 years for financial accounting and 7 years for tax accounting. this was the only asset purchased in 2011. (MACRS mid-quarter percentage is 3.57. the Sec.179 deduction was not taken) $17,000 for property tax for the first six months of 2012. $84,000 for a two-year office lease beginning December 1,20111. $230,000 for inventory purchases. $100,000 was on-hand at 12/31/11 for each of these expenditures: how are these expenditures reported for financial and taxable income? what is the financial tax expense? what is tax liability? what is the journal entry to record the tax accrual?

BBY is a calendar year accrual method corporation with a marginal and effective tax rate of 34%. It had $5,000,000 of financial income before making the following cash payments on December 31,2011: $4,000 paid to a consultant for work to be performed in January 2012. $600,000 for equipment delivered on December 1, 2011. The equipment has a useful life of 10 years for financial accounting and 7 years for tax accounting. this was the only asset purchased in 2011. (MACRS mid-quarter percentage is 3.57. the Sec.179 deduction was not taken) $17,000 for property tax for the first six months of 2012. $84,000 for a two-year office lease beginning December 1,20111. $230,000 for inventory purchases. $100,000 was on-hand at 12/31/11 for each of these expenditures: how are these expenditures reported for financial and taxable income? what is the financial tax expense? what is tax liability? what is the journal entry to record the tax accrual?

Please see attached and complete

Please see attached and complete

Gator Divers is a company that provides divers services such as underwater ship repairs to clients in the Tampa Bay area.  The company's planning budget for March appears below. Gator Divers Planning Budget For the Month Ended March 31   Budgeted diving-hours (q) . . . . . . . . . . . . . . . . . . . . .                         200 Revenue ($380.00q) . . . . . . . . . . . . . . . . . . . . . . . . . .                        $76,000 Expenses: Wages and salaries ($12,000 + $130.00q) . . . . . .                   38,000 Supplies ($5.00q) . . . . . . . . . . . . . . . . . . . . . . . . . .                1,000 Equipment rental ($2,500 + $26.00q) . . . . . . . . . .                  7,700 Insurance ($4,200) . . . . . . . . . . . . . . . . . . . . . . . . .                4,200 Miscellaneous ($540 + $1.50q) . . . .

1. Simplify  by rationalizing the denominator.

 

2. Simplify .

 

3. If the hypotenuse of a right triangle is 6m and one side is 4m, what is the length of the other side?

 

4. Choose the best description of the radical expression .
5. It can be simplified, but the result is a complex number.
6. It can be simplified to –3.
7. It is in simplified form.
8. It can be simplified to , but no further.

 

5. Simplify .

 

6. Simplify .

 

7. Rationalize the denominator of .

 

8. Which of these points is 5 units away from the point (6, –1)?

 

9. Which expression has the same value as 25½?

 

10. Simplify (6 - i)(2 + i).

1. (TCOs 2, 3, and 5) As we know, Congress devised a very broad definition of income and codified this definition in Section 61 of the Internal Revenue Code. Explain the Code’s definition of income and how it is generally applied to taxpayers. In particular, explain how the Code’s definition of income is different than other potential definitions of income, such as the economic concept of income, and use an example to illustrate the difference between the two systems. Explain how the Code approaches whether or not particular items should be included in income and how a taxpayer’s taxable income is generally determined under the Code. (Points : 25) 2. (TCOs 2, 4, and 5) We spent quite a bit of time this term learning about deductions. One of the important distinctions between various types of deductions that we examined was the distinction between “for AGI” and “from AGI” deductions. Explain how the names for these two types of deductions developed, as well as the fundamen