ACC 620 Milestone Two Guidelines and Rubric

III Income Taxes

A. If congress voted to eliminate corporate taxes, what would be the effect on your company's income statement and balance sheet? Defend your response.

B. Calculate the income tax rate for your chosen company. What effect will an increase in income of $2,000,000 have on your company?

C. What are the effects on the balance sheet and income statement? Justify your response.

D. How much did your company pay in foreign taxes last year? What percentage of its income is United State vs. foreign?

V.Pensions

Address the following elements in the form of a memo to your CEO

A. From your company's financial information, what type of pension plan does it have? Discuss the reasons why your company have chosen this particular plan.

B. What was the effects of the pension plan on your company's financial statements? Defend your response.

C. Your CEO has informed you-the controller of your company-the board of directors has made the decision tolook atother options of types of retirement plans. Investigate what other alternatives would be available, and determine which would be appropriate for your particular company.

Guidelines for Submissions: Your paper much be submitted as 2-4 page Microsoft Word document with double spacing, 12-point Times Roman font, one- inch margins, and at least three sources cited in APA format.