Question
Receivables 35,000 20,000 Inventories 50,000 22,500 Equipment-net 120,000 45,000 Land 20,000 17,500 Investment in Sardinia 102,000 Goodwill TOTAL ASSETS $ 354,500 $120,000 LIAB. & EQUITY
| Receivables | 35,000 | 20,000 |
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| Inventories | 50,000 | 22,500 |
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| Equipment-net | 120,000 | 45,000 |
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| Land | 20,000 | 17,500 |
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| Investment in Sardinia | 102,000 |
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| Goodwill |
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| TOTAL ASSETS | $ 354,500 | $120,000 |
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| LIAB. & EQUITY Accounts payable |
$ 35,000 |
$ 25,000 |
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| Capital Stock | 250,000 | 50,000 |
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| Retained Earnings | 69,500 | 45,000 |
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| 1/1 Noncntrl. Interest |
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| 12/31 Noncntrl. Interest |
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| TOTAL LIAB.& EQUITIES | $ 354,500 | $120,000 |
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Rehabilitation Tax Credit IRS Audit Techniques Guide
Authors: Internal Revenue Service
1st Edition
1304114686, 978-1304114686
