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Anit [1.1K]
3 years ago
11

XYZ Inc. has the following net income before any application of any net operating losses: 2016 $9,000 Net income 2017 $12,000 Ne

t income 2018 ($20,000) Net income 2019 $10,000 Net income 2020 $6,000 Net income What is the income for 2019 after applying any applicable NOL?
Business
1 answer:
Evgesh-ka [11]3 years ago
3 0

Answer:

$9000

Explanation:

The income for 2016 is $ 9,000, there would not be any application of net operating losses as the loss has been incurred in 2018. Net operating loss cannot be applied to previous years profit. Hence, 2016 income would remain at $ 9,000.

Net operating loss of 2018 can be applied against the income of future years i.e. income of the year 2019 and 2020.

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Allegheny Company ended Year 1 with balances in Accounts Receivable and Allowance for Doubtful Accounts of $70,000 and $3,600, r
tatyana61 [14]

Answer:

Uncollectible account expense  $8,600

Explanation:

The computation of the amount as the Uncollectible Accounts Expense on its Year 2 income statement is given below:

Allowance account - Beg year 2    $3,600 Credit

Written off account   $6,600    Debited by

 Unadjusted balance in Allowance account  $3000  Debit

Adjusted balance required in Allowance account  $5,600  Credit

Uncollectible account expense  $8,600

6 0
3 years ago
Kim, chris, and beth are all partners in a cosmetics firm. kim is leaving the partnership and wants to sell her shares of the bu
Goryan [66]
The answer for your question is B
3 0
3 years ago
look-alike tasteeos sell for far less than the market-leading cheerios brand. which market follower strategy is being employed b
Taya2010 [7]

Look-alike Tasteeos sell for less price than the market-leading Cheerios brand. Cereal manufacturer has employed a cloner marketing strategy.

Cloner marketing strategy refers to creating a product by copying features of an already existing brand product. A manufacturer might copy the same features of distribution, production, labeling, ingredients, advertisement, and looks but the quality will differ from the leading brand.

Cloner is a parasitic marketing strategy that thrives on the investment of the major brand that another firm is copying to sell its products. To escape the copyright issue, these cloner firms make sure the name of the product is slightly different from that of the major brand.

Learn more about marketing strategy here brainly.com/question/25492268

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8 0
1 year ago
The unique markings and small cuts on the sole of a suspect's shoe are unique because of continued wear and use. these markings
Solnce55 [7]

The answer is: individual characteristics

In forensic, individual characteristics refers to a trail of evidence that could only be made by someone with a specific background or someone who are used to a certain type of behavior.

From markings and cuts and the sole, investigators could predict the general activities that usually done by the owner of the shoe. This would helped them identify the victim and help to unfold what happened to that victim when the crime occurred.

6 0
4 years ago
A recent study conducted by the state government attempts to determine whether the voting public supports a further increase in
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