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Lerok [7]
2 years ago
9

Adams Corporation owns and operates two manufacturing facilities, one in State X and the other in State Y. Due to a temporary de

cline in the corporation’s sales, Adams has rented 20% of its Y facility to an unaffiliated corporation. Adams generated $1,000,000 net rental income and $5,000,000 income from manufacturing. ​ Adams is incorporated in Y. For X and Y purposes, rental income is classified as allocable nonbusiness income. By applying the statutes of each state, Adams determined that its apportionment factors are .65 for X and .35 for Y. ​ Adams’s income attributed to X is:
Business
1 answer:
pogonyaev2 years ago
3 0

Answer:

$3,250,000

Explanation:

First of all, we need to remember that Adams' rent corresponds to 20% of the Y installation, the net rent is $ 1,000,000 and the manufacturing revenue is $ 500,000.

The first step in this calculation is to find the total taxable income. This can be found by calculating: 1000000 + 5000000 = $ 6000000.

The second step is to find the shared revenue, for that it will be necessary to subtract the total taxable income from the allocated revenue. Through the calculation: 6000000-1000000 = $ 5000000.

Now, we have reached the end of the calculation and we must find the value of the revenue distributed to state X. This revenue is equal to 65% of 5000000, which is equal to 3250000.

In summary, $ 3250000 is taxable in State X

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3 0
2 years ago
The Consumer Electronics Show (CES) reports that the HP Spectre laptop computer starts at $994.00 for a base configuration. The
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Answer: $1312.41

Explanation:

The following information can be depicted from the question:

Cost of HP Spectre laptop = $1353

Credit terms = 3/15, net 30

Therefore, since discount allowed is 3%, the complement of the discount rate will be:

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Therefore, amount needed to pay will be:

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4 0
2 years ago
If the company wishes to increase its total dollar contribution margin by 30% in 2020, by how much will it need to increase its
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Answer:

$35,400

Explanation:

The computation of the increase in sales is shown below:

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= 2,950 units × $40 per unit

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Now if the contribution margin increases by 30, so ultimately the sales is also increased by 30%

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3 years ago
Due to the potential impact of changes that can affect all users in an organization, and considering that security vulnerabiliti
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Answer:

The organization should do the following in order to oversee changes:

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