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ivolga24 [154]
3 years ago
11

Which of the following fiduciary entities are required to use the calendar year as their taxable period for income tax purposes?

Business
1 answer:
Fofino [41]3 years ago
5 0

Answer:

B) Trusts (except those that are exempt)

Explanation:

The only three entities that are allowed to select a fiscal year are: estates, C corporations and tax exempt entities.

Trusts, along with partnerships, S corporations and personal service corporations mus use the calendar year as their taxable period  or the tax year of their owners. Some trusts can change to a different calendar year if they can establish a business purpose for doing so.

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A company had net income of $210600. Depreciation expense is $27000. During the year, Accounts Receivable and Inventory increase
ANTONII [103]

Answer: The amount of cash provided by operating activities is $179,600.

Explanation:

<u>Statement of cash flows for the company</u>

Net income                                                            $210,600

Add Depreciation expense                                      27,000

Add Loss on sale of equipment                                  1,800

Increase in Accounts receivable                             (16,900)  

Increase in Inventory                                                (41,700)

Decrease in Prepaid expenses                                   5,000

Decrease in Accounts payable                                  (6,200)

Cash flows fron operating activities                   $179,600

7 0
2 years ago
1. A simple random sample of size 15 is drawn from a normal population whose standard deviation is assumed to be 8. What's the m
WINSTONCH [101]

Answer:

± 4.05

Explanation:

Data provided in the question:

Random sample size = 15

Standard deviation = 8

Confidence level = 95%

Now,

Margin of error is given as:

Margin of error = ± [ ( z × s ) ÷ √n ]

Here,

From standard z table for 95% confidence level z = 1.96

Margin of error = ± [ ( 1.96 × 8 ) ÷ √15 ]

or

Margin of error = ± [ 15.68 ÷ 3.873 ]

or

Margin of error = ± 4.05

7 0
3 years ago
Dell is a product of the Digby company. Digby's sales forecast for Dell is 1856 units. Digby wants to have an extra 10% of units
Mumz [18]

Answer:

Dell's Production After Adjustment will be 2,041 units

Explanation:

According to the given data we have that Dell forecast for sales is 1856 and there considering the 10% reserve first we would need to calculate the number of units after the reserve of 10% as follows:

10% reserve units=0.10×1856=185 units

Therefore, total required units=1,856+185

total required units=2,041 units

Dell's Production After Adjustment will be 2,041 units

5 0
3 years ago
Annie is excited about a $500 income tax return and is already contemplating which shoes to purchase. annie is exhibiting
Diano4ka-milaya [45]
Annie can be probably exhibiting <span>strongly positive time preferences and prospect theory. Annie is contemplating which shoes she would buy so she has a strongly positive time preferences and a prospect theory because she has a decision and has an alternatives what type of shoes she would buy.</span>
6 0
3 years ago
Assume the Hiking Shoes division of the All About Shoes Corporation had the following results last year (in thousands). Manageme
NNADVOKAT [17]

Answer:

A) $1,050,000

Explanation:

Residual income

= Net operating income - (Total assets*Target rate of return)

= 1,250,000 - (20%*1,000,000)

= $1,050,000

Therefore, The division's Residual Income is $1,050,000.

5 0
3 years ago
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