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Scorpion4ik [409]
3 years ago
15

Omar and Janet are also trying to forecast what their federal and state income taxes will be at the end of the year. If Rings an

d Things had a negative cash flow of –$150.00 per month from January through April, but a positive cash flow of $1,000.00 per month (after expenses) from May through December, on what dollar amount will they determine their income taxes? What expenses could be used for tax deductions?
Business
2 answers:
Brums [2.3K]3 years ago
3 0

Answer: This was the best answer I could come up with. Its probably wrong but whatever! :P  

They will determine their income taxes based on their positive cash flow of $1,000.00 per month. This is because this cash flow spans across more months than their negative cash flow of -$150.00 per month. Expenses that could be used for their tax deductions is sales tax.

Explanation:

ser-zykov [4K]3 years ago
3 0

Answer:

$7400

Explanation:

Taxable income is the portion of gross income that is subjected to tax. To arrive at this , necessary deduction like tax deductible expenses are deducted from the gross income. Moreover , the gross income is the aggregated overall  income over the months of the year.

Year end losses can be carried forward to offset income tax in subsequent years.

Tax deductible expenses are business expenses that are exempted from tax. Examples are pension plans , health insurance ,club membership . education assistance ,life insurance and lunch

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Retained earnings: Group of answer choices
Slav-nsk [51]

Answer:

Retained earnings refers to:

D. The net losses and dividends declared since its inception of a company's cumulative net profit.

Explanation:

Retained earnings are referred as :

  • The overall earning the company have made till the present date.
  • This earning excludes the dividend money and the money of the investors distributed.
  • Whenever new records are made for the company this dividend money is readjusted.
  • This leftover money has an impact on the account related to the expense and revenue.
  • The retained earnings are built of the total income amount which has been given by a business after paying off the dividend to the shareholders.

So, here correct option is

D. The net losses and dividends declared since its inception of a company's cumulative net profit.

3 0
3 years ago
The Josey Company purchased equipment for $21,000 on October 1. It is estimated that annual depreciation on the computer will be
zimovet [89]

Answer:

b

Explanation:

4 0
3 years ago
The most desirable bundle of rights in time-sharing gives the buyer privileges to rent or sell the interest in the property. the
ratelena [41]

These rights are known as property rights. Property rights allow a person to do what they want with their property, within regulation. These are included in the bundle of rights a time-share buyer has because they are allowed to use, sell, or rent their time-share.

5 0
3 years ago
What is the return on common stockholdersâ equity based on the following: Beginning Common Stockholdersâ Equity: $10,317,000 End
Slav-nsk [51]

Answer:

13.28%

Explanation:

return on stockholders' equity = net income after taxes and preferred stock dividends / average stockholders' equity

  • net income = $1,429,000
  • preferred stocks dividends = 8,000 stocks x $75 x 6% = $36,000
  • average stockholders' equity = ($10,317,000 + $10,662,000) / 2 = $10,489,500

return on stockholders' equity = ($1,429,000 - $36,000) / $10,489,500 = 13.28%

5 0
4 years ago
In which business continuity planning task would you actually design procedures and mechanisms to mitigate risks deemed unaccept
Leto [7]

Answer:

It is Business Impact Assessment (B)

Explanation:

Organizational plans and business decisions are vulnerable to various risks that could hinder them from materializing .

After business decisions have been made at strategic level, there is a need to carry out their business impact assessment to understand the relationship that exist between their impact and their  likelihood of occurrence.

Having assessed the impact and likelihood of occurrence, some risks are accepted,transferred while some are completely avoided.

6 0
3 years ago
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