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Molodets [167]
3 years ago
6

At Sunland Company, events and transactions during 2020 included the following. The tax rate for all items is 20%. (1) Depreciat

ion for 2018 was found to be understated by $119400. (2) A strike by the employees of a supplier resulted in a loss of $92400. (3) The inventory at December 31, 2018 was overstated by $156900. (4) A disposal of a component of the business resulted in a $2000000 loss. The effect of these events and transactions on 2020 net income net of tax would be:
a.($1754000
b. ($1673920)
c. ($1894960)
d. ($74420).
Business
1 answer:
e-lub [12.9K]3 years ago
4 0

Answer:

B. $1673920

Explanation:

First calculate Total loss

$2000000 loss from disposal of a component of the business and loss of $92400 from strike by the employees of a supplier

$2000000 + $92400 = $2,092,400

20% of the loss =

20% × $2,092,400

= $418,480

Therefore the effect of these events and transactions on 2020 net income net of tax would = Total loss - 20% of total loss

$2,092,400 - $418,480

= $1,673,920

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2 years ago
Monopolists want to protect their market position by – potential competitors. A common tactic is to lobby for –, such as –. Such
mixer [17]

Answer:

restricting the entry; trade restrictions; import tariffs; rent-seeking; monopoly

Explanation:

Monopolists want to maximize their profits by keeping the potential competitors out of the market. For restricting the entry of potential firms they adopt the practice of lobbying for trade restrictions which restrict entry. One such restriction is importing tariff which will reduce competition from foreign products. Such lobbying can be defined as a form of rent-seeking which means using political means to secure monopoly position.

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3 years ago
Trends among category killers such as Staples for office supplies and Best Buy for electronics include price matching and ______
tatiyna

Price matching and Shipping directly are trends office supplies and Best Buy offers, which can compete with ratailers online who sells similar products.

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3 0
2 years ago
If you borrow $25,000 from a local finance company and you are required to pay $4,424.50 per year for 10 years, what is the annu
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Use this formula:

A= P(1+rt),

A is the final investment amount (4424.50x10)

P is the principal amount (25,000)

r is the rate of interest (annual)

t is the time period (10)

If A= P(1+rt),

then (1+rt) = A/P.

(1+r(10)=( 44,245)/25,000

10r=1.7698-1

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3 0
3 years ago
If the nominal exchange rate between the American dollar and the Canadian dollar is 0.89 Canadian dollars per American​ dollar,
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3 years ago
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