A cash basis calendar year C corporation in Athens, Georgia has $100,000 of accounts receivable on the date of its conversion to an S corporation on Feb. 14. By the end of the year, $70,000 of these receivables are collected. Calculate any built-in gains tax, assuming that there is sufficient taxable income.

a. $0

b. $10,500

c. $24,500

d. $35,000

e. Some other amount

In north korea, a farmer’s income is the same as a dentist’s income. in a country with a mixed or market economy, the difference between those two professions might be more than 5 times different. how can you explain the fact that individuals doing the same work in different countries do not earn comparable salaries?

Which of the following is correct? a. a tax burden falls more heavily on the side of the market that is more elastic.b. a tax burden falls more heavily on the side of the market that is less elastic.c. a tax burden falls more heavily on the side of the market that is closer to unit elastic.d. a tax burden is distributed independently of the relative elasticities of supply and demand.

Using the smith's bbq report, the cost of wine for next week will increase by 2% from the current week. if all other cost of sales stays constant, what will be the approximate total cost of sales for next week?