Adjustment of Surplus Stock in Tax Discussion
The article is the twentieth in a series by Thomas H. Ray on federal income tax in the Daily and Sunday Post. It explains determining invested capital from the balance sheet, adjustments for capital changes, and special provisions for difficult cases including foreign firms and mixed property.
MENTIONED IN THIS ARTICLE
Thomas H. Ray
Daily and Sunday Post
Navy
Adjusting Capital Stock and Surplus in Corporate Balance Sheets
When capital stock is adjusted the surplus must be adjusted, and the sum represents invested capital. If this sum exceeds admissible assets, capital is reduced to the admissible asset total and adjustments for inadmissible assets made. Depreciation, obsolete stock, and bad receivables may reduce surplus, with asset revaluations reflected in adjusted capital stock and surplus. A final step deducts outstanding indebtedness and a proportion of inadmissible assets from the assets list before total comparison.
Victory Liberty Loan Seen At Five Billion Size
Washington reports the Victory Liberty Loan may total five billion dollars when floated in late April. The House Ways and Means Committee set a bill to authorize short term notes instead of bonds, while Treasury cautions the final amount depends on expenses and receipts through the next fiscal year.
MENTIONED IN THIS ARTICLE
Washington
House
Ways and Means Committee
Ways and Means
Treasury Department
Treasury
Relu Cigarettes Born From Smokers Taste Tests
The Relu brand arose after tobacco experts created four blends and smokers nationwide voted for the favorite. Blend No 4 was named Relu and placed on sale with no advertising, its popularity growing annually. The Relu Bird cartoon was added to attract New England smokers. If not satisfied, refunds are offered by Reed Tobacco Company of Richmond Virginia.
MENTIONED IN THIS ARTICLE
United States
Seattle
Boston
Relu
New England
Reed Tobacco Colm'nbany
Richmond
Virginia
Laxative Bromo Quinine Advertisement Featured
A clipped testimonial style ad promotes Laxative Bromo Quinine with the claim it removes the cause of colds and grip. The box shows Be. W. Grove and a signature on the packaging.
MENTIONED IN THIS ARTICLE
W. Grove
New Tax Certificates Maturing June 16
Treasury announces a new issue of tax certificates of indebtedness dated March 15 and maturing June 16 with interest at 4.12 percent. The prior issue closed today with about 370 million dollars subscribed. Other maturities March 15 June 17 and July 15 will be accepted in payment. if turned in before March 15 interest paid to that date.
MENTIONED IN THIS ARTICLE
Washington
Treasury
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Mae Sheep
McKibbin, Driscoll & Dorsey, Inc
Saint Paul
Minnesota
Percale
Smallwares and
Clark’s
Kerr
CLARK
J. J. Clark
AMN
Bates
Amoskeag
Zephyr
New York
Magrane Frouston
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Rees Ea