Answer:
$99,750
Explanation:
Matulis's taxes are = (asset's fair market value - asset's basis) x corporate tax rate = ($800,000 - $325,000) x 21% = $475,000 x 21% = $99,750
Since the C corporation is turning into a S corporation it must recognize the gain on holding the asset. The Tax Cuts and Jobs Act set the corporate tax rate at 21%.
Answer: Valuation
Explanation:
The assertion that assertion relates to the statement that Assets, liabilities, and equity interests are included in the financial statements at appropriate amounts is the valuation assertion.
According to the assertion of accuracy and valuation, it simply means that all the figures that are presented in a financial statement are known to be accurate and are based on proper valuation of the assets, the liabilities and the equity balances
Answer:
B.
Explanation:
Threat Modeling is the process of identifying and optimizing network security. This practice helps to find the possible threats to confidential information.
<u>Threat Modeling is used to protect the systems. In this practice, the consultant identifies the enterprise's assets and analyze the work of all applications. Then it sets the security profile on all applications and documenting adverse effects of it</u>.
In the given scenario, the consultant will use the tool or technique of threat modeling to identify the potential attackers.
So, the correct answer is option B.
Answer:
no option is correct, the correct answer is $12,630
Explanation:
after tax salvage value of old machine = $12,000 - [($12,000 - $15,000) x 21%] = $12,000 - (-$3,000 x 21%) = $12,000 - -$630 = $12,630
the tax shield generated by this loss (market value is lower than book value) = $630
the cash received form the sale = $12,000
the combined effect = $12,000 + $630 = $12,630
