1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
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.

You might be interested in
The risks created by rapid changes in it have not affected which concepts of internal control?
Goryan [66]

Internal control objectives remain essentially the same although technology, risks, and control methods change. Thus, many concepts of control (management's responsibility, the role of the control environment, reasonable assurance, monitoring, and cost-benefit analysis) are relevant regardless of IT changes.

<h3>What is technology?</h3>
  • The use of skills, methods, and processes utilized in industrial production and scientific study combined with collected knowledge to create technology.
  • All equipment and electronic devices operate using technology, whether or not the user is fully aware of how they work for the organization's goals.
  • Systems make up the technologies used in modern life.
<h3>Why is technology so important in today's world?</h3>
  • Information sharing, meal preparation, clothing cleaning, and transportation are all things we do with the help of technology.
  • However, even commonplace technologies like door locks, floor tiles, and furniture are things we now take for granted and that we consider to be less spectacular than 3D printing or self-driving automobiles.

Learn more about technology here:

brainly.com/question/9171028

#SPJ4

5 0
1 year ago
Deep Water Mining added $411 to retained earnings last year on sales of $24,646. The administrative expenses were $4,370, deprec
ANTONII [103]

Answer:

It is $18,290.24

Explanation:

Profit after Tax (65%) = addition to retained earnings+dividend paid

                                   = $411 +  $285

                                    = $ 696

Profit before Tax = [100/65] * $ 696

                            = $1070.76

Tax (35%)             = 35% * $1070.76

                            = $374.77

Gross Profit = Profit before tax + Total expenses

                    = $1070.76 + [  $4,370+ $103+ $812]

                    = $6355.76

Cost of Sales= $24,646 -$6355.76

                     = $18,290.24 .

Note

-Dividend is paid is paid from profit after tax

6 0
3 years ago
An investor owned a 100-acre parcel that contained several natural asphalt lakes. A construction company was erecting highways f
Leona [35]

Answer: Yes

Explanation:

The construction company is entitled to compensation because it has a property right to enter and remove minerals.

The investor gave the construction company the right to use the properties on the land, if anything would be done on the land, the construction company should be compensated because they bought the right to do business there. Since the owner granted them the sole right, they are entitled to the resources.

7 0
3 years ago
The Shoe Exchange issues 3,000 shares of its $1 par value common stock to provide funds for further expansion. The issue price i
Nezavi [6.7K]

Answer:

Debit Cash account           $57,000

Credit Shares capital         $3,000

Credit Share premium       $54,000

Being entries to record cash received from the issuance of shares

Explanation:

Par value per share = $1

Issue price per share = $19

Premium per share from issue = $19 - $1

                                                   = $18

Number of issued shares = 3000

Share capital balance from issue = 3000 × $1

                                                          = $3000

Premium balance = 3000 × $18

                             = $54,000

Cash received from Issue = 3000 × $19

                                           = $57,000

Entries to be posted

Debit Cash account           $57,000

Credit Shares capital         $3,000

Credit Share premium       $54,000

Being entries to record cash received from the issuance of shares.

4 0
3 years ago
When herbert took a new position at galbrook manufacturing company, the firm was near insolvency. one of herbert’s first acts wa
Anon25 [30]
<span>The answer for the above question is managerial. When Herbert took a new position at Galbrook Manufacturing Company, the firm was near insolvency. One of Herbert's first acts was to establish specific goals for sales growth and a strategy for achieving them. He also changed the organizational structure and developed an elaborate control system for keeping the company on track. Herbert is functioning in a(n) managerial position at Galbrook Manufacturing.</span>
3 0
3 years ago
Other questions:
  • What are the three major responsibilities of the federal reserve?
    8·1 answer
  • During 2019, half of the treasury stock was resold for $180,000; net income was $510,000; cash dividends declared were $1,320,00
    9·1 answer
  • A work plan for a​ proposal, which describes how​ you'll accomplish what must be​ done, states when work will​ begin, how it wil
    5·1 answer
  • It is January 2nd. Senior management of Digby meets to determine their investment plan for the year. They decide to fully fund a
    13·1 answer
  • In the table above the output level where the price minus atc (average total cost) is a maximum (or least negative) is the maxim
    9·1 answer
  • When economists speak of a deadweight​ loss, they are referring to?
    15·1 answer
  • Tina and Bob formed the TB Partnership four years ago. Because they decided the company needed some expertise in multimedia pres
    7·1 answer
  • One function of a firm to its employees is to provide them with proper working conditions and pay them accurate wages and salari
    13·2 answers
  • Someone please help !!
    11·1 answer
  • Rainey Company's true cash balance at October 31 is $4,700. The following information is available for the bank reconciliation:
    11·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!