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

For company Target Corporation

Instructions

III. Income Taxes

If Congress voted to eliminate corporate taxes, what would be the effect on your company’s income statement and balance sheet? Defend your response.
Calculate the income tax rate for your chosen company. What effect will an increase in income of $2,000,000 have on your company?
What are the effects on the balance sheet and income statement? Justify your response.
How much did your company pay in foreign taxes last year? What percentage of its income is United States vs. foreign?

V. Pensions

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

From your company’s financial information, what type of pension plan does it have? Discuss the reasons why your company has chosen this particular plan.
What was the effect of the pension plan on your company’s financial statements? Defend your response.
Your CEO has informed you—the controller of your company—that the board of directors has made the decision to look at other options of types of retirement plans. Investigate what other alternatives would be available, and determine which would be appropriate for your particular company.

The post If Congress voted to eliminate corporate taxes, what would be the effect on your company’s income statement and balance sheet? Defend your response. appeared first on Essay Quoll.

Reference no: EM132069492

GET HELP WITH YOUR PAPERS

WhatsApp
Hello! Need help with your assignments? We are here
Don`t copy text!