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Mkey [24]
3 years ago
9

In 2019, UNA Corporation has $500,000 of adjusted taxable income, $22,000 of business interest income, and $120,000 of business

interest expense. It has annual average gross receipts of more than $25,000,000 over the prior three taxable years. a. What is UNA’s interest expense deduction? b. How much interest expense can be deducted if UNA’s adjusted taxable income is $300,000?
Business
1 answer:
Inessa05 [86]3 years ago
5 0

Answer:

they will deduct full of $120000 interest

they will deduct up to $112000

Explanation:

given data

adjusted taxable income =  $500,000

business interest income = $22,000

business interest expense = $120,000

annual average gross receipts = $25,000,000

solution

we know that Maximum Deduction is here express as

Maximum Deduction = ( adjusted taxable income × 30% ) + business interest income     ..................1

put here value

Maximum Deduction = ( 500000 × 30% ) + 22000

Maximum Deduction = $172000

so that here they will deduct full of $120000 interest

and

for Maximum Deduction is here

Maximum Deduction = (300000 × 30%) + business interest income    .........2

Maximum Deduction = (300000 × 30% )+22000

Maximum Deduction = $112000

so that they will deduct up to $112000

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Why are short sentences and short paragraphs appropriate for business communication?
motikmotik

Answer:

Objs. 4 For business communications it is essential to express ideas and facts eloquently. The shorter the sentences and paragraph are, the brief the letter, memo or notice. This will save the reader's and writer's time.

3 0
3 years ago
Glasgow Enterprises started the period with 80 units in beginning inventory that cost $7.50 each. During the period, the company
Citrus2011 [14]

Answer:

The cost of ending inventory is $2340

Explanation:

Under the weighted average method of inventory valuation, we value the ending inventory based on the weighted average of all the available inventory for the period. The inventory available for the period includes the beginning inventory plus the purchases for the period.

The weighted average cost of inventory can be calculated by adding the total cost of available inventory and dividing it by total number of units of available inventory.

The weighed average cost of inventory per unit for Glasgow is,

Total cost = 80 * 7.5 + 200 * 9 + 150 * 9.3 + 50 * 10.5  =  $4320

Total number of units = 80 + 200 + 150 + 50  = 480 units

Weighted average cost per unit = 4320 / 480  =  $9 per unit

The units of ending inventory are = 480 - 220 = 260 units

The cost of ending inventory is = 260 * 9 = $2340

3 0
3 years ago
This information relates to Cullumber Co..1.On April 5, purchased merchandise from Oriole Company for $27,900, terms 2/10, n/30.
mixas84 [53]

Answer:

Explanation:

The journal entries are shown below:

On April 5

Merchandise Inventory A/c $27,900

         To Accounts payable A/c  $27,900

(Being merchandise purchased on credit)

On April 6

Merchandise inventory A/c Dr $670

       To Cash A/c $670

(Being freight is paid by cash)

On April 7

Equipment A/c Dr $31,600

     To  Accounts payable A/c  $31,600

(Being equipment is purchased on credit)

On April 8

Accounts payable A/c  $3,700

   To Merchandise inventory A/c Dr $3,700

(Being the returned goods is recorded)

On April 15

Accounts payable A/c Dr $24,200           ($27,900  - $3,700)

     To Cash A/c   $23,716                   

     To Merchandise Inventory A/c $484                      ($24,200 × 2%)

(Being due amount is paid and the remaining balance is credited to the cash account)

5 0
3 years ago
In terms of the Job Characteristics Model, feedback refers to the extent to which _____.
Bond [772]

Answer:

(E). A person receives clear information about performance effectiveness from the work itself.

Explanation:

According to the Job characteristics model, an employee gets motivation from the job itself, and there are five characteristics that improve an employee's performance on the job. One of these characteristics is "feedback".

The model defines feedback as the <u>extent to which an employee receives information about how effective his or her job performance has been.</u>

8 0
3 years ago
During 2022 Concord Corporation had sales on account of $596000, cash sales of $235000, and collections on account of $342000. I
natali 33 [55]

Answer:

$254,000  

Explanation:

First and foremost,the cash of $9,200 collected in respect of debt already written off as uncollectible would not affect the balance in accounts receivable since the debt would reinstated and also taken out of accounts receivable simultaneously.

The change in accounts is the difference between the sales on account of $596,000 and collections in respect of accounts receivable of $342,000

change in accounts receivable=$596,000-$342,000=$254,000  

6 0
3 years ago
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