Answer:
$60,000 income tax benefit
Explanation:
Since Crimson Corp. had a loss from operations and sold the asset for a loss we know that they lost money with the asset and an income tax benefit was generated. To calculate the income tax benefit we need to add both losses: $40,000 (operation) + $160,000 (sale) = $200,000 in total losses.
$200,000 x 30% = $60,000 income tax benefit
Here are the answers of the given question above. The decision-makers that <span>experience scarcity are the following: governments, companies, and individuals, except for capital goods since capital goods is not a decision-maker. Hope this is the answer that you are looking for. Have a great day!</span>
Answer:
the balance in the Cash account should be C : $25,000.
Explanation:
Assets=(Liabilities+Owner’s Equity)
Assets= Cash+account receivable+Suplies+Equipment
Cash 25.000
Acoount Receivable 5.000
Supllies 12.000
Equipment 18.000
Assets 60.000
Account Payable 17.000
Liabilities 17.000
Stakholder equity 43.000
Equity 43.000
Liabilities+ Equity 60.000
Answer:
The answer is: D) continue flying until the lease expires and then drop the run.
Explanation:
Currently Cold Duck Airlines is losing money:
It only gets $1,000 in revenue per flight but spends $1,150 per flight (net loss of $150 per flight).
They should continue flying only until the lease contract expires. Usually lease contracts apply penalties if they are terminated early. We don't know the penalty amount but still it is never good to breach a contract.
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