Examlex
Employee X drives a company automobile 6,000 miles in State A and 4,000 miles in State B.The automobile is valued at $20,000 for purposes of the property factor.The corporation's home office is located in State C.For purposes of the payroll factor, X's compensation is assigned to State B.The value of the automobile should be included in the numerator of the property factor as follows
Salaries Expense
An account that records the total amount paid to employees for services performed during a specific period, excluding wages paid hourly.
Notes Payable
A formal written agreement to pay a specific amount of money on a certain date or upon demand to another party.
Salaries Expense
The total amount paid to employees for services rendered during a specific period, recorded as an expense on the income statement.
Supplies
Materials and items consumed or used in the operation of a business or manufacturing process that are not part of the final product.
Q2: Assets are grouped into five classes under
Q10: T, Inc., has $60,000 U.S.source income, $40,000
Q12: Although Congressional intent in creating the Controlled
Q26: Clothing Inc.and Mr.Red Button formed Apparel
Q30: A manufacturing corporation can be located in
Q40: The categorization of a trust as "simple"
Q41: S and J, Inc.decided to change its
Q45: At the beginning of its fiscal year,
Q49: X is the sole shareholder of Z
Q50: Section 533, Accumulated Earnings Tax, provides that