WebBirch Corp. is an accrual-basis, calendar-year C corporation. Its reported book income before federal income taxes was $250,000, which included $46,000 in municipal bond interest income. Birch's book expenses included $4,000 of interest incurred on indebtedness used to carry the municipal bonds.
Birch Corp., a calendar-year corporation, was formed three years …
WebBurch Corporation is a construction and service company specializing in refrigeration and HVAC applications. With offices in Birmingham, Atlanta, Tampa, and Fort Myers, and with a strong customer base in the commercial, institutional and industrial areas, our mission is to meet all of our customers’ needs in the refrigeration and HVAC fields. WebBirch Corp., a calendar-year corporation, was formed three years ago by its sole shareholder, James, who has operated it as an S corporation since its inception. Last year, James made a direct loan to Birch Corp. in the amount of $5,000. Birch Corp. has paid the interest on the loan but has not yet paid any principal. (Assume the loan. iosh event safety management courses
Birch Manufacturing
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