On December 31, 2020, Berclair Inc. had 400 million shares of common stock and 6 million shares of 9%, $100 par value cumulative preferred stock issued and outstanding. On March 1, 2021, Berclair purchased 30 million shares of its common stock as treasury stock. Berclair issued a 5% common stock dividend on July 1, 2021. Five million treasury shares were sold on October 1. Net income for the year ended December 31, 2021, was $650 million.

In 2018, laureen is currently single. she paid $2,800 of qualified tuition and related expenses for each of her twin daughters sheri and meri to attend state university as freshmen ($2,800 each for a total of $5,600). sheri and meri qualify as laureen’s dependents. laureen also paid $1,900 for her son ryan’s (also laureen’s dependent) tuition and related expenses to attend his junior year at state university. finally, laureen paid $1,200 for herself to attend seminars at a community college to her improve her job skills.what is the maximum amount of education credits laureen can claim for these expenditures in each of the following alternative scenarios? a. laureen's agi is $45,000.b. laureen’s agi is $95,000.c. laureen’s agi is $45,000 and laureen paid $12,000 (not $1,900) for ryan to attend graduate school (i.e, his fifth year, not his junior year).

Example1 lcnrv: ted company uses the lower of cost or nrv method in valuing its inventory items. the inventory at december 31, 2017, consists of products a, b and c, each having 1,000 units. relevant unit data for these products appear below: item a item b item c cost $ 80 $80 $80 estimated selling price 180 100 90 estimated selling cost 30 30 30 required: using the lower of cost or net realizable value rule, determine the proper value of inventory for balance sheet reporting purposes at december 31, 2017. prepare any necessary journal entry. apply the lower of cost or nrv method: • on an individual inventory basis; • on a group basis; • on a total inventory basis. solution worksheet: inventory (on an individual basis): inventory value item nrv cost lc- item a item b item c total inventory (on a group basis): inventory value item nrv cost lc- group 1 (item a and b) group 2 (item c) total inventory (on an aggregate inventory basis): inventory value item nrv cost lc- total inv

Ivan, a russian fishermen, needs a permit so that he can commercially participate in ice fishing for yellow perch and then the consequent sales. garet is an undergraduate student who has to work at mcdonald\'s part time to pay his tuition loans. always looking on the bright side of things, he is that he can\'t make less than what he is earning, $7.25 an hour. d\'artagnan, a poor french noblemen, discovers a large cache of truffles in his backyard. however, the government caps the sale of truffles at $100 a pound, which frustrates d\'artagnan as he knows they are worth more than that. athos is an avid collector of swords, but as they are illegal to purchase, he goes by illicit means to obtain them. to out irish farmers, the government sets the minimum price of potatoes at $26 a bushel. in order to support domestic sales of textiles, the country of germany puts a cap on the amount of foreign textiles it imports.