1) The document is an Oregon tax form for claiming the biomass producer and collector credit.
2) It contains instructions for agricultural producers, biomass collectors, and pass-through entities like partnerships and S corporations to calculate, allocate, and transfer the credit.
3) The form has sections to report the quantity and type of biomass transferred, calculate the credit amount, and distribute any transferred or passed-through credits.
1. Uncertainty that the party on the other side of an agreement.docxTatianaMajor22
1.
Uncertainty that the party on the other side of an agreement will abide by the terms of the agreement is referred to as
a.
price risk.
b.
credit risk.
c.
interest rate risk.
d.
exchange rate risk.
2.
A contract giving the owner the right, but not the obligation, to buy or sell an asset at a specified price any time during a specified period in the future is referred to as a(n)
a.
interest rate swap.
b.
forward contract.
c.
futures contract.
d.
option.
3.
Which type of contract is unique in that it protects the owner against unfavorable movements in the prices or rates while allowing the owner to benefit from favorable movements?
a.
Interest rate swap
b.
Forward contract
c.
Futures contract
d.
Option
4.
For which type of derivative are changes in the fair value deferred and recognized as an equity adjustment?
a.
Fair value hedge
b.
Cash flow hedge
c.
Operating hedge
d.
Notional value hedge
5.
An obligation that is contingent on the occurrence of a future event should be reported in the balance sheet as a liability if
a.
the future event is likely to occur.
b.
the amount of the obligation can be reasonably estimated.
c.
the occurrence of the future event is at least reasonably possible and the amount is known.
d.
the occurrence of the future event is probable and the amount can be reasonably estimated.
6.
According to Statement of Financial Accounting Standards No. 131, "Disclosures about Segments of an Enterprise and Related Information," how do firms identify reportable segments?
a.
By geographic regions
b.
By product lines
c.
By industry classification
d.
By designations used inside the firm
7.
An inventory loss from market decline of $900,000 occurred in April 2008. CD Company recorded this loss in April 2008 after its March 31, 2008, quarterly report was issued. None of this loss was recovered by the end of the year. How should this loss be reflected in the quarterly income statements of CD Company?
Three months ended (2008):
March 31June 30September 30December 31
a.
0 0 0 $900,000
b.
0 $300,000 $300,000 $300,000
c.
0 $900,000 0 0
d.
$225,000 $225,000 $225,000 $225,000
On July 1, 2008, Cahoon Company sold some limited edition art prints to Sitake Company for ¥47,850,000 to be paid on September 30 of that year. The current exchange rate on July 1, 2008, was ¥110=$1, so the total payment at the current exchange rate would be equal to $435,000. Cahoon entered into a forward contract with a large bank to guarantee the number of dollars to be received. According to the terms of the contract, if ¥47,850,000 is worth less than $435,000, the bank will pay Cahoon the difference in cash. Likewise, if ¥47,850,000 is worth more than $435,000, Cahoon must pay the bank the difference in cash.
8.
Assuming the exchange rate on September 30 is ¥115=$1, what amount will Cahoon pay to, or .
ACC 545 Final Exam 100% Correct Answer
Description:
1) A company changes from percentage-of-completion to completed-contract, which is the method used for tax purposes. The entry to record this change should include a
A. debit to Retained Earnings in the amount of the difference on prior years, net of tax.
B. debit to Loss on Long-Term Contracts in the amount of the difference on prior years, net of tax.
C. credit to Deferred Tax Liability.
D. debit to Construction in Process.
2) Which of the following is accounted for as a change in accounting principle?
A. A change from expensing immaterial expenditures to deferring and amortizing them as they become material
B. A change from the cash basis of accounting to the accrual basis of accounting
C. A change in inventory valuation from average cost to FIFO
D. A change in the estimated useful life of plant assets
3) A company changes from straight-line to an accelerated method of calculating depreciation, which will be similar to the method used for tax purposes. The entry to record this change should include a
A. debit to Deferred Tax Asset.
B. debit to Retained Earnings in the amount of the difference on prior years.
C. credit to Deferred Tax Liability.
D. credit to Accumulated Depreciation.
4) Presenting consolidated financial statements this year when statements of individual companies were presented last year is
A. an accounting change that should be reported by restating the financial statements of all prior periods presented.
B. an accounting change that should be reported prospectively.
C. NOT an accounting change.
D. a correction of an error.
5) During 2008, a construction company changed from the completed-contract method to the percentage-of-completion method for accounting purposes but not for tax purposes. The following lists include gross profit figures under both methods for the past 3 years:
Completed-Contract
Percentage-of-Completion
2006
$ 475,000
$ 800,000
2007
625,000
950,000
2008
700,000
1,050,000
$1,800,000
$2,800,000
Assuming an income tax rate of 40% for all years, the affect of this accounting change on prior periods should be reported by a credit of what?
A. $390,000 on the 2008 income statement
B. $600,000 on the 2008 income statement
C. $390,000 on the 2008 retained earnings statement
D. $600,000 on the 2008 retained earnings statement
6) On January 1, 2005, Baden Co. purchased a machine, which was its only depreciable asset, for $300,000. The machine has a 5-year life, and no salvage value. Sum-of-the-years’-digits depreciation has been used for financial statement reporting and the elective straight-line method for income tax reporting. Effective January 1, 2008, for financial statement reporting, Baden decided to change to the straight-line method for depreciation of the machine. Assume that Baden can justify the change.
Baden’s income before depreciation, before inc
Personal Brand Statement:
As an Army veteran dedicated to lifelong learning, I bring a disciplined, strategic mindset to my pursuits. I am constantly expanding my knowledge to innovate and lead effectively. My journey is driven by a commitment to excellence, and to make a meaningful impact in the world.
Enterprise Excellence is Inclusive Excellence.pdfKaiNexus
Enterprise excellence and inclusive excellence are closely linked, and real-world challenges have shown that both are essential to the success of any organization. To achieve enterprise excellence, organizations must focus on improving their operations and processes while creating an inclusive environment that engages everyone. In this interactive session, the facilitator will highlight commonly established business practices and how they limit our ability to engage everyone every day. More importantly, though, participants will likely gain increased awareness of what we can do differently to maximize enterprise excellence through deliberate inclusion.
What is Enterprise Excellence?
Enterprise Excellence is a holistic approach that's aimed at achieving world-class performance across all aspects of the organization.
What might I learn?
A way to engage all in creating Inclusive Excellence. Lessons from the US military and their parallels to the story of Harry Potter. How belt systems and CI teams can destroy inclusive practices. How leadership language invites people to the party. There are three things leaders can do to engage everyone every day: maximizing psychological safety to create environments where folks learn, contribute, and challenge the status quo.
Who might benefit? Anyone and everyone leading folks from the shop floor to top floor.
Dr. William Harvey is a seasoned Operations Leader with extensive experience in chemical processing, manufacturing, and operations management. At Michelman, he currently oversees multiple sites, leading teams in strategic planning and coaching/practicing continuous improvement. William is set to start his eighth year of teaching at the University of Cincinnati where he teaches marketing, finance, and management. William holds various certifications in change management, quality, leadership, operational excellence, team building, and DiSC, among others.
RMD24 | Retail media: hoe zet je dit in als je geen AH of Unilever bent? Heid...BBPMedia1
Grote partijen zijn al een tijdje onderweg met retail media. Ondertussen worden in dit domein ook de kansen zichtbaar voor andere spelers in de markt. Maar met die kansen ontstaan ook vragen: Zelf retail media worden of erop adverteren? In welke fase van de funnel past het en hoe integreer je het in een mediaplan? Wat is nu precies het verschil met marketplaces en Programmatic ads? In dit half uur beslechten we de dilemma's en krijg je antwoorden op wanneer het voor jou tijd is om de volgende stap te zetten.
Skye Residences | Extended Stay Residences Near Toronto Airportmarketingjdass
Experience unparalleled EXTENDED STAY and comfort at Skye Residences located just minutes from Toronto Airport. Discover sophisticated accommodations tailored for discerning travelers.
Website Link :
https://skyeresidences.com/
https://skyeresidences.com/about-us/
https://skyeresidences.com/gallery/
https://skyeresidences.com/rooms/
https://skyeresidences.com/near-by-attractions/
https://skyeresidences.com/commute/
https://skyeresidences.com/contact/
https://skyeresidences.com/queen-suite-with-sofa-bed/
https://skyeresidences.com/queen-suite-with-sofa-bed-and-balcony/
https://skyeresidences.com/queen-suite-with-sofa-bed-accessible/
https://skyeresidences.com/2-bedroom-deluxe-queen-suite-with-sofa-bed/
https://skyeresidences.com/2-bedroom-deluxe-king-queen-suite-with-sofa-bed/
https://skyeresidences.com/2-bedroom-deluxe-queen-suite-with-sofa-bed-accessible/
#Skye Residences Etobicoke, #Skye Residences Near Toronto Airport, #Skye Residences Toronto, #Skye Hotel Toronto, #Skye Hotel Near Toronto Airport, #Hotel Near Toronto Airport, #Near Toronto Airport Accommodation, #Suites Near Toronto Airport, #Etobicoke Suites Near Airport, #Hotel Near Toronto Pearson International Airport, #Toronto Airport Suite Rentals, #Pearson Airport Hotel Suites
Discover the innovative and creative projects that highlight my journey throu...dylandmeas
Discover the innovative and creative projects that highlight my journey through Full Sail University. Below, you’ll find a collection of my work showcasing my skills and expertise in digital marketing, event planning, and media production.
What is the TDS Return Filing Due Date for FY 2024-25.pdfseoforlegalpillers
It is crucial for the taxpayers to understand about the TDS Return Filing Due Date, so that they can fulfill your TDS obligations efficiently. Taxpayers can avoid penalties by sticking to the deadlines and by accurate filing of TDS. Timely filing of TDS will make sure about the availability of tax credits. You can also seek the professional guidance of experts like Legal Pillers for timely filing of the TDS Return.
Tata Group Dials Taiwan for Its Chipmaking Ambition in Gujarat’s DholeraAvirahi City Dholera
The Tata Group, a titan of Indian industry, is making waves with its advanced talks with Taiwanese chipmakers Powerchip Semiconductor Manufacturing Corporation (PSMC) and UMC Group. The goal? Establishing a cutting-edge semiconductor fabrication unit (fab) in Dholera, Gujarat. This isn’t just any project; it’s a potential game changer for India’s chipmaking aspirations and a boon for investors seeking promising residential projects in dholera sir.
Visit : https://www.avirahi.com/blog/tata-group-dials-taiwan-for-its-chipmaking-ambition-in-gujarats-dholera/
Kseniya Leshchenko: Shared development support service model as the way to ma...Lviv Startup Club
Kseniya Leshchenko: Shared development support service model as the way to make small projects with small budgets profitable for the company (UA)
Kyiv PMDay 2024 Summer
Website – www.pmday.org
Youtube – https://www.youtube.com/startuplviv
FB – https://www.facebook.com/pmdayconference
Affordable Stationery Printing Services in Jaipur | Navpack n PrintNavpack & Print
Looking for professional printing services in Jaipur? Navpack n Print offers high-quality and affordable stationery printing for all your business needs. Stand out with custom stationery designs and fast turnaround times. Contact us today for a quote!
What are the main advantages of using HR recruiter services.pdfHumanResourceDimensi1
HR recruiter services offer top talents to companies according to their specific needs. They handle all recruitment tasks from job posting to onboarding and help companies concentrate on their business growth. With their expertise and years of experience, they streamline the hiring process and save time and resources for the company.
What are the main advantages of using HR recruiter services.pdf
egov.oregon.gov DOR PERTAX 01-181-08
1. Clear Form
Tax year
Form (or fiscal year end date)
BPC
Biomass Producer and
Collector Credit
Name Social Security number (SSN)/Oregon business identification number (BIN)
Address (city, state, and ZIP code) Telephone number
Fill out this form if you earned a biomass producer and collector (BPC) credit or received a BPC credit from someone who
earned the BPC credit. This form contains multiple parts. Please complete only the parts required in the instructions.
1. Are you a pass-through entity, such as an S corporation or partnership, passing through BPC credits to owners or
partners?
a. Yes. Complete parts A and C and provide the form to the owners or partners to complete and attach to their indi-
vidual return(s). No forms are required to be sent in by the pass-through entity.
b. No. Continue to question 2.
2. Did you receive a BPC credit because it passed through to you from a pass-through entity, such as an S corporation
or partnership?
a. Yes. Complete Part B of the form you received from the pass-through entity then skip question 3 and continue to
question 4.
b. No. Continue to question 3.
3. Are you an agricultural producer or biomass collector who earned the BPC credit by transferring biomass to a biofuel
producer?
a. Yes. Complete parts A and B, then continue to question 4.
b. No. Skip question 4 and continue to question 5.
4. If you answered yes to question 2 or 3, did you transfer any BPC credits to another taxpayer?
a. Yes. In addition to parts A and B, complete Part C and a Transfer Notice of Certain Credits form (150-101-179) with
the transferee.*
b. No. You only need to complete parts A and B and attach this form to your return.
5. Was the BPC credit transferred to you?
a. Yes. Complete Part B and the Transfer Notice of Certain Credits form and attach both forms to your tax return.*
b. No. You cannot claim this credit.
*Note: Both the transferor and the transferee must attach Form BPC to their returns. The transferee will also attach the
Transfer Notice for Certain Credits form.
Part A: Calculation of the credit
Please describe the quantity, type, and name of the biofuel producer to which the biomass was transferred only for the
tax year for which this form is being filed. Attach a separate sheet if necessary. Enter the total on line 4e.
(e)
(c) Multiply credit rate by
(b) Quantity of biomass quantity; this is the amount (f)
(a) Biomass (in pounds, gallons, (d) of the credit you have Name of the
Date type wet tons, etc.) Credit rate** earned on this transaction biofuel producer
1.
2.
3.
4. Total
**To obtain credit rates, please see Publication 17½ available at www.oregon.gov/DOR.
Important! You must keep copies of receipts from a biofuel producer to support your calculations above. Keep these in
your records for five years. You must provide a copy to the department upon request.
150-101-181 (Rev. 12-08) Page 1 of 2
2. If Part A was completed by a pass-through entity, provide the following information:
Name of pass-through entity:
FEIN or BIN of entity:
Part B: Schedule of credit amount
Use the schedule below to calculate how much of the credit you can use in the prior tax year and current tax years.
Note: Use the prior year column to determine your carryforward amount for the current tax year.
Prior year Current year
(column 1) (column 2)
a. Enter the BPC credit that you earned or that was passed through to you
from a pass-through entity, such as an S corporation or partnership.................... a
b. Enter the BPC credits transferred to you on a Transfer Notice of
Certain Credits form ............................................................................................. b
c. Enter BPC credits you are carrying forward from a prior year. Note: This
amount should equal the amount in column 1, line g .......................................... c
d. Add lines a through c and enter the total ............................................................. d
e. Enter the BPC credit you used on your return ..................................................... e
f. Enter the BPC credits you transferred to a third party for consideration ............. f
g. Enter line d minus line e and line f. This is your carryforward available
for use in future tax years ..................................................................................... g
Part C: Distribution of transferred or passed-through credits
If you transferred credits to more than one taxpayer for consideration, please attach a schedule listing to whom the credits
were transferred, the amount of the credit that was transferred to each person (in dollars), and how much consideration
you received for the transferred credits (in dollars). You will also need to complete a Transfer Notice of Certain Credits form
with each transferee. A copy of that form needs to be attached to the return of the transferee, along with Form BPC.
S corporations and partnerships that pass through credits to partners or owners must keep a schedule detailing the
amount of credit that each partner or owner received (in dollars). You must provide a copy to the department upon
request.
I (we) certify under penalty of perjury the above statements are true. Corporate officers, fiduciaries, or other qualified
persons signing on behalf of taxpayer(s): By signing, I also certify that I have the authority to execute this form.
Signed under penalty of perjury:
Taxpayer’s signature Date
X
Attach this completed notice to the tax return of the taxpayer or corporation claiming or transferring the credit. If filing
electronically, fax this notice to 503-945-8786, labeled “Attn: Suspense,” or mail it to:
COR-TROL
Attn: Suspense
PO Box 14999
Salem OR 97309-0990
Page 2 of 2 150-101-181 (Rev. 12-08)