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
choli [55]
3 years ago
9

Remsco has taxable income of $60,000 before considering charitable contributions. The $60,000 is net of a dividends received ded

uction of $12,000. Its charitable contributions for the year were $7,500. What is Remsco's current-year charitable contribution deduction and contribution carryover?
Business
1 answer:
Oduvanchick [21]3 years ago
5 0

Answer:

D) $7,200 current-year deduction; $300 carryover

Explanation:

Remsco's total modified taxable income for the year = $60,000 (net income) + $12,000 (dividends received deductions) = $72,000

Corporations can deduct charitable contributions up to 10% of their total modified taxable income for the year:

$72,000 x 10% = $7,200

since the contributions made during this year exceeded the limit by $300, that will be the amount of the carryover for future years.

* Modified  taxable income is the taxable  income determined without regard to any  base erosion tax benefit, i.e. total taxable income including any deductions made like DRD

You might be interested in
What are the dimensions of situational control identified by Fiedler's contingency leadership model? (Check all that apply.)
Kipish [7]

There are ways to control different situations. The dimensions of situational control Fiedler's contingency theory are leader-member relations, task structure, and position power.

Fiedler's is popularly known for his contingency theory. This theory helps to understand why managers can behave so differently.

The contingency theory states that there no one single leadership style often works for all employees.

He stated also that there are situational-contingent elements that influences a leader's ability to lead.

Learn more about Fiedler's contingency theory from

brainly.com/question/14615424

6 0
3 years ago
: i can't believe it! now our pay depends on meeting goals! doesn't effort count for anything anymore? i have the same goals tha
viva [34]

Setting the pay according to the goals achieved by a group may not be considered beneficial to everyone, thus decreasing motivation. Pay-for-performance or according to individual performance may help motivate the employee but increasing individuality in terms of performance may also decrease group cohesiveness or group-related values. The speaker here shows depreciation by undervaluing another's work to overvalue or protect one's own.

6 0
3 years ago
The paper is written, the next step is to __________. limit your topic and make the purpose of your paper clear use an acceptabl
JulijaS [17]

The next step to be approached after the paper is written is that an individual should limit their topic and that they should make a purpose of the paper as this is a method that is effective when planning and making an effective essay or topic.

3 0
3 years ago
An economy consists of three workers: Carlos, Felix, and Larry. Each works 10 hours a day and can produce two services: mowing l
Reika [66]

Answer:

D

Explanation:

6 0
3 years ago
Using the continuous compounding equation, if someone invested $5,000 at an interest rate of 3.5%, and someone else invested $5,
UNO [17]

Answer:

Therefore after 16.26 unit of time, both accounts have same balance.

The both account have $8,834.43.

Explanation:

Formula for continuous compounding :

P(t)=P_0e^{rt}

P(t)=  value after t time

P_0= Initial principal

r= rate of interest annually

t=length of time.

Given that, someone invested $5,000 at an interest 3.5% and another one  invested $5,250 at an interest 3.2% .

Let after t year the both accounts have same balance.

For the first case,

P= $5,000, r=3.5%=0.035

P(t)=5000e^{0.035t}

For the second case,

P= $5,250, r=3.5%=0.032

P(t)=5250e^{0.032t}

According to the problem,

5000e^{0.035t}=5250e^{0.032t}

\Rightarrow \frac{e^{0.035t}}{e^{0.032t}}=\frac{5250}{5000}

\Rightarrow e^{0.035t-0.032t}=\frac{21}{20}

\Rightarrow e^{0.003t}=\frac{21}{20}

Taking ln both sides

\Rightarrow lne^{0.003t}=ln(\frac{21}{20})

\Rightarrow 0.003t}=ln(\frac{21}{20})

\Rightarrow t}=\frac{ln(\frac{21}{20})}{0.003}

\Rightarrow t= 16.26

Therefore after 16.26 unit of time, both accounts have same balance.

The account balance on that time is

P(16.26)=5000e^{0.035\times 16.26}

              =$8,834.43

The both account have $8,834.43.

7 0
3 years ago
Other questions:
  • If you have a business and you are spending more money then your making how do you turn it around
    5·1 answer
  • The ending inventory of finished goods for each quarter should equal 20% of the next quarter's budgeted sales in units. The fini
    14·1 answer
  • Arthur Meiners is the production manager of​ Wheel-Rite, a small producer of metal parts.​ Wheel-Rite supplies​ Cal-Tex, a large
    11·1 answer
  • Pandora pioneered a new way to broadcast music. This kind of breakthrough of creating ________ ways to solve old problems or mee
    9·1 answer
  • The network marketing sales system works by recruiting independent businesspeople who act as distributors.
    9·1 answer
  • Sandoval needs to determine its year-end inventory. The warehouse contains 33,000 units, of which 4,300 were damaged by flood an
    13·1 answer
  • What famous singer wrote jingles for state farm and band-aid?
    13·2 answers
  • Suppose your school is considering whether to spend $20 million building a new state- of-the-art recreation facility. All of the
    9·1 answer
  • There was a traffic accident on your usual route to work this morning, so you decide to get off the freeway and drive the rest o
    10·1 answer
  • On January 1 of this year, Trucks R Us Corporation issued bonds with a face value of $ 2,000,000 and a coupon rate of 10 percent
    7·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!