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
a_sh-v [17]
3 years ago
15

Whindy Corporation, an S corporation, reports a recognized built-in gain of $80,000 and a recognized built-in loss of $10,000 th

is year. Whindy holds an $8,000 unexpired NOL carryforward from a C corporation year. Whindy's ordinary income for the year is $65,000. Assume a corporate tax rate of 21%.Calculate any built-in gains tax.
Business
1 answer:
mihalych1998 [28]3 years ago
4 0

Answer:

Built-in gains tax is $13,020 .

Explanation:

The built-in gains tax is one levied against an S corporation that used to be a C corporation, or received assets from a C corporation.  

Here,

Gain= $80,000

Loss= $10,000

Holds= $8,000

Income= $65,000

Corporate tax= 21%

To calculate the built-in gains tax, we will need to calculate the net gain of the corporation and multiply it by the tax rate.

= Built-in-gain - built-in-loss - unexpired NOL

80,000 - 10,000 - 8,000 = 62,000

Then

62,000 x 0.21 tax rate = 13,020

= 13,020

You might be interested in
The following information is related to Alpha Company:
yan [13]

Answer:

c. $5.1 per hour.

Explanation:

Estimated Manufacturing overhead = $249,000

Estimated direct labour hours = 50,000

Predetermined overhead Rate = Estimated Manufacturing overhead / Estimate direct labor hours

Predetermined overhead Rate = $249,000 / 50,000

Predetermined overhead Rate = $4.98

The given is inconsistent with the options given in this question. A similar question is attached with this answer. The following answer is made according to the attached question. please find that.

Estimated Manufacturing overhead = $254,000

Estimated direct labour hours = 50,000

Predetermined overhead Rate = Estimated Manufacturing overhead / Estimate direct labor hours

Predetermined overhead Rate = $254,000 / 50,000

Predetermined overhead Rate = $5.08 = $5.1 per hour

3 0
3 years ago
In the sales comparison approach, how is the appropriate unit of comparison chosen?
kirill115 [55]

Answer:

c. It depends on the appraisal problem. The appraiser should apply all appropriate units of comparison, explain differences in wide variation in the results, and choose the most reliable unit.

Explanation:

The three (3) main methods used for the valuation or appraisal of real-estate properties are;

I. Income approach.

II. Cost approach.

III. Sales comparison approach.

A sales comparison approach can be defined as a real-estate appraisal technique that is typically based on comparing a property to other recently sold real-estate properties with similar characteristics. Thus, this appraisal method or technique requires that the real-estate property being appraised should be in current use and fall within the same area or locality as the other recently sold real-estate properties.

In the sales comparison approach, the appraised property should mimic the market behavior of other real-estate properties sold recently.

5 0
3 years ago
The local professional soccer team stadium displays an advertisement for domino’s pizza at halftime. What type of marketing it t
Vilka [71]

The type of marketing that this is is called business to customer strategy. This is called B2C marketing.

<h3> </h3><h3>What is a business to customer strategy? </h3>

This is a type of marketing strategy that has to do with the approach that businesses take to sell their goods and their services to the customers that they have.

The business here is utilizing the fact that they game is at the half time to sell their goods.

At this time, a lot of the audience would feel the need to be refreshed and would need something to eat

Read more on  business to customer strategy here:

brainly.com/question/24803497

3 0
2 years ago
Jan Ashley worked for the R&amp;S Department Store as a sales associate in the fine linens department. As she would give change
alina1380 [7]

Answer:

b) Larceny at the point of sale

Explanation:

Larceny at the point of sale -

It is a type of fraud , where the employee itself steal money from the employer during the point in the business , when is the sale is been made .

This type of fraud is very commonly seen in the retail business .

Same case is shown in the question data , where Jan Ashley , who works for the R & S departmental store , tries to steal money during the sale .  

8 0
3 years ago
Despite trade restrictions, international business is a. struggling for survival. b. decreasing. c. slowing down. d. moving slow
vlabodo [156]

Answer:

The answer is e. growing

Explanation:

The reason international business will continue to grow is because no nation can meet all its needs by itself. There will always be importation and exportation. This is where Comparative Advantage comes in.

What is comparative advantage?

  • Simply put, this is the ability of a company or an economy to produce and sell goods and services at a lower price than its competitors, and still realize a larger sales margin. This theory was introduced by the English political economist David Ricardo in 1817.

Another reason why international trade will continue to grow is because of Absolute Advantage.

  • Absolute advantage refers to the ability of an economy or a company to produce more or better goods and services than its others.

Let us assume that country A cannot produce its own oil, but country B can. In this scenario, country B has Absolute advantage over country A, therefore country A will naturally import oil from country B regardless of whether there are trade restrictions between them. This is because country A must fulfill its oil needs whether it likes it or not.

3 0
3 years ago
Other questions:
  • What amount would Becca declare on her income tax return if Becca and Suzanne had formed a Subchapter S corporation and there wa
    7·1 answer
  • Does USAMS cable support fast charging?
    13·2 answers
  • Firms subject to the reporting requirements of the Securities Exchange Act of 1934 are required by the Foreign Corrupt Practices
    11·1 answer
  • Transmissions are delivered to the fabrication line five at a time. It takes two hours for transmissions to be delivered. Approx
    5·1 answer
  • When you're evaluating the risk of starting a new business, which risk is likely to be worth it? Question 17 options: Losing you
    13·1 answer
  • A project is a time-bound effort constrained by performance specifications, resources, and budget to create a unique product or
    12·2 answers
  • Luke’s Lubricants starts business on January 1. The following operations data are available for January for the one lubricant it
    11·1 answer
  • Flounder Corporation owns machinery that cost $26,400 when purchased on July 1, 2017. Depreciation has been recorded at a rate o
    6·1 answer
  • The financial statement that shows revenue and expenses for a period of time is the
    5·1 answer
  • General Product Inc. distributed 150 million coupons in 2021. The coupons are redeemable for 40 cents each. General anticipates
    9·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!