Volunteer corporation reported taxable income of $500,000 from operations for 2010. the company paid federal incometaxes of $170,000 on this taxable income. during the year, the company made a distribution of land to its sole shareholder, rocky topp. the land’s fair market value was $75,000 and its tax and e& p basis to volunteer was $25,000. rocky assumeda mortgage attached to the land of $15,000. any gain from the distribution will be taxed at 34 percent the company hadaccumulated e843 of $750,000 at the beginning of the year. a. compute volunteer‘s total taxable income and federal income tax paid as a result of the distribution. b. compute volunteer‘s current e& p for 2010.c. compute volunteer’s accumulated e& p at the beginning of 2011.d. what amount of dividend income does rocky report as a result of the distribution? e. what is rocky's income tax basis in the land received from volunteer?

Case in point 1.2 suppose you work in the it department of global hotels, a multinational hotel chain. global hotels runs several specialized business support systems, including a guest reservations system that was developed in-house to meet the requirements of a large company with worldwide operations. guests can make one-stop online reservations by visiting global's website, which has links to all major travel industry sites. global hotels just acquired momma's, a regional chain of 20 motels in western canada. momma's uses a vertical reservations package suitable for small- to medium-sized businesses and a generic accounting and finance package. should momma's use global hotels' information systems or continue with its own? in your answer, consider issues such as business profiles, business processes, system interactivity, edi, ecommerce, and the characteristics of both information systems. what additional information would be to you in making a recommendation?

Match each of the terms below with an example that fits the term. a. fungibility the production of gasoline b. inelasticity the switch from coffee to tea c. non-excludability the provision of national defense d. substitution the demand for cigarettes

If the economy were in the contracting phase of the business cycle, how might that affect your ability to find work?