Journal of Accountancy, Volume 28American Institute of Certified Public Accountants, 1919 - Accounting |
From inside the book
Results 1-5 of 56
Page 34
... stockholder as a member of the corporation . In other words , the fact of limited liability means that the stockholder usually only jeopardizes the amount of his investment and that the creditor of the corporation , consequently , has ...
... stockholder as a member of the corporation . In other words , the fact of limited liability means that the stockholder usually only jeopardizes the amount of his investment and that the creditor of the corporation , consequently , has ...
Page 47
... stockholder or individual , etc. Section 234 relates to corporations , and allows as deductions ( 1 ) all ordinary and necessary expenses paid or incurred during the taxable year in carrying on any trade or business , including a ...
... stockholder or individual , etc. Section 234 relates to corporations , and allows as deductions ( 1 ) all ordinary and necessary expenses paid or incurred during the taxable year in carrying on any trade or business , including a ...
Page 48
... stockholders even for such laudable purposes . It is concluded , therefore , that corporations are not entitled to deduct from their gross income for the purpose of the income tax the amount of contributions made to religious ...
... stockholders even for such laudable purposes . It is concluded , therefore , that corporations are not entitled to deduct from their gross income for the purpose of the income tax the amount of contributions made to religious ...
Page 63
... stockholders as interest and not as dividends . It must have been paid out because , if it had been merely charged as an expense , it would have been credited to interest as a capital profit . In case the interest is paid on a ...
... stockholders as interest and not as dividends . It must have been paid out because , if it had been merely charged as an expense , it would have been credited to interest as a capital profit . In case the interest is paid on a ...
Page 64
... stockholders and auditor's certificate thereto . ( b ) Show statement of adjustments to profit and surplus . PASSAIC FALLS WOOLEN MANUFACTURING CO . Balance - sheet - June 30 , 1918 Assets Land 10,000.00 Buildings ( brick ) 100,000.00 ...
... stockholders and auditor's certificate thereto . ( b ) Show statement of adjustments to profit and surplus . PASSAIC FALLS WOOLEN MANUFACTURING CO . Balance - sheet - June 30 , 1918 Assets Land 10,000.00 Buildings ( brick ) 100,000.00 ...
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Common terms and phrases
accrued actual allowance American Institute amount annuity assets audit auditor balance-sheet basis bonds book value capital stock Carrying value cash cent certificate certified public accountant charged claim collector column computed consolidated controlling account corporation cost accountant debit December 31 deduction depreciation depreciation reserve determined discount dividends earned entries examination excess profits tax expenses filed flour fund goodwill income tax increase Institute of Accountants interest internal revenue inventory invested capital issued June 16 ledger liability market value material ment method month operating paid par value partnership payable payment period person plant practice preferred stock premium present value production profit and loss purchase question received records rents reserve revenue act selling price shares sold statement stockholders subsidiary companies surplus taxpayer tion transaction treasury stock trial balance United wheat
Popular passages
Page 220 - ... in any manner whatever not provided by law any income return, or any part thereof or source of income, profits, losses, or expenditures appearing in any income return; and any offense against the foregoing provision shall be a misdemeanor and be punished by a fine not exceeding $1,000 or by imprisonment not exceeding one year, or both...
Page 139 - The amount of all items of gross income shall be included in the gross income for the taxable year in which received by the taxpayer, unless, under methods of accounting permitted under section 41, any such amounts are to be properly accounted for as of a different period.
Page 47 - All the ordinary and necessary expenses paid or incurred during the taxable year in carrying on any trade or business, including a reasonable allowance for salaries or other compensation for personal services actually rendered...
Page 315 - One of the original members shall be appointed for a term of one year, one for a term of two years, one for a term of three years, one for a term of four years, and one for a term of five years...
Page 379 - ... all losses actually sustained within the year and not compensated by insurance or otherwise...
Page 379 - ... such net income shall be ascertained by deducting from the gross amount of its income received within the year from business transacted and capital invested within the United States and any of its territories, Alaska and the District of Columbia (first), all the ordinary...
Page 221 - ... any income return, or to permit any income return or copy thereof or any book containing any abstract or particulars thereof to be seen or examined by any person except as provided by law; and it shall be unlawful for any person to print or publish in any manner whatever not provided by law any income return or any part thereof or source of income, profits, losses, or expenditures appearing in any income return...
Page 381 - Treasury, is hereby authorized to make all needful rules and regulations for the enforcement of the provisions of this Act.
Page 377 - That in case a person or persons supplying a contractor with labor or material as provided by the Act of Congress, approved February 24, 1905 (33 Stat.
Page 376 - ... in case of any default in the performance of any of the conditions or stipulations of such penal bond.