Sweeney enterprises manufactures tires for the formula i motor racing circuit. the company's budgeted and actual amounts are as follows: budgeted for august 2017 units to manufacture and sell 3,600 variable cost per tire $71 total fixed costs $55,000 budgeted selling price per tire $114 actual results for august 2017 units manufactured and sold 3,500 selling price per tire $116 total variable costs $280,000 total fixed costs $51,000

Evelyn would like to open a small business that is categorized as a being in the distribution industry. to do this she could open a establishment.

Which of the following statements is correct? large corporations are taxed more favorably than sole proprietorships. corporate stockholders are exposed to unlimited liability. due to limited liability, unlimited lives, and ease of ownership transfer, the vast majority of u.s. businesses (in terms of number of businesses) are organized as corporations. most businesses (by number and total dollar sales) are organized as partnerships or proprietorships because it is easier to set up and operate in one of these forms rather than as a corporation. however, if the business gets very large, it becomes advantageous to convert to a corporation, mainly because corporations have important tax advantages over proprietorships and partnerships. most business (measured by dollar sales) is conducted by corporations in spite of large corporations’ often less favorable tax treatment, due to legal considerations related to ownership transfers and limited liability.

Kyle and alyssa paid $1,000 and $4,000 in qualifying expenses for their two daughters jane and jill, respectively, to attend the university of california. jane is a sophomore and jill is a freshman. kyle and alyssa's agi is $135,000 and they file a joint return. what is their allowable american opportunity tax credit after the credit phase-out based on agi is taken into account?