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3 years ago

What criteria is used to determine the date when foreign taxes are accrued for purposes of the foreign tax credit?

1 answer:

7 0

➡️ If you choose to take the foreign tax credit, and the taxes paid or accrued✔️

➡️Use the rate of exchange in effect on the date you paid the foreign taxes to the ✔️

➡️For this purpose, withholding tax includes any tax determined on a gross basis.✔️

➡️Need to know how to qualify for Foreign Tax Credit and avoid double taxation✔️

➡️high tax foreign countries, it may be preferable to use the Foreign Tax Credit alone.✔️

➡️ and excess profits taxes paid or accrued during your tax year to any foreign ✔️

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g Your savings account earns 1.72% interest. You have $3,000 left over from an internship that you will put into the saving acco

bekas [8.4K]

Answer:

It will take 13 years and 66 days

Explanation:

Giving the following information:

Your savings account earns 1.72% interest.

Present value= $3,000

Final value= $3,756

To calculate the number of years, we need to use the following formula:

n= ln(FV/PV) / ln(1+i)

n= ln(3,756/3,000) / ln(1.0172)

n= 13.18 years

To be more specific= 365*0.18= 66

It will take 13 years and 66 days

4 0

3 years ago

At the beginning of Year 2, Oak Consulting had the following normal balances in its accounts:

kvv77 [185]

Answer:

Cash Accounts receivable

debit credit debit credit

42,000 25,000

c. 140,000 a. 185,000

d. 120,000 c. 140,000

e. 31,400 70,000

30,600

Service revenue Accounts payable

debit credit debit credit

a. 185,000 8,400

185,000 b. 45,800

0 0 e. 31,400

22,800

Common stock Retained earnings

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24,000 34,600

24,000 f. 10,000

19,200

43,800

Operating expenses Salaries expenses

debit credit debit credit

b. 45,800 d. 120,000

45,800 120,000

0 0 0 0

in order to determine the balance of the retained earnings account at the end of the year, we must first close all the temporary accounts:

Dr Service revenue 185,000

Cr Income summary 185,000

Dr Income summary 165,800

Cr Operating expenses 45,800

Cr Salaries expense 120,000

Dr Income summary 19,200

Cr Retained earnings 19,200

6 0

3 years ago

16. GDP Growth Consider the following data on U.S. GDP: Year GDP (Billions of current dollars) (Billions of 2009 dollars) 2011 1

dmitriy555 [2]

Answer:

The percentage change in nominal GDP from 2013 to 2014 was 4.29%

The percentage change in real GDP from 2012 to 2013 was 1.48%

The percentage change in real GDP from 2012 to 2013 was higher than the percentage change in real GDP from 2011 to 2012. FALSE

Explanation:

In order to calculate this we just have to calculate the percentages with a rule of thirds:

$\frac{GDP1}{100}= \frac{GDP2}{x}$

To calculate the first one we use the nominal GDP which is the GDP with the current market value:

$\frac{GDP1}{100}= \frac{GDP2}{x}\\\frac{16,663.2}{100}= \frac{17,348.1 }{x}\\x=\frac{(100)(17,348.1}{16,663.2} \\x=4.29%$

To calculate the change in real GDP we use the values adapted to a pre-agreed monetary value, in this case the dollar at 2009:

$\frac{GDP1}{100}= \frac{GDP2}{x}\\\frac{15,354.6}{100}= \frac{15,583.3}{x}\\x=\frac{(100)(15,583.3}{15,354.6} \\x=1.48%$

To calculate the 2011 to 2012 we insert the values:

$\frac{GDP1}{100}= \frac{GDP2}{x}\\\frac{ 15,020.6}{100}= \frac{15,354.6}{x}\\x=\frac{(100)(15,354.6}{ 15,020.6} \\x=2.22%$

So with this we know that it is wasn´t higher the percentage change from 2012-2013, than that of 2011-2012

5 0

3 years ago

The general services administration (gsa was set up as an independent agency _____.

ahrayia [7]

To Take care of the construction and operation of public buildings

3 0

3 years ago

Read 2 more answers

Dr. weiss is a research scientist with a major pharmaceutical company. in his position he has great flexibility in determining h

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d. achievement-oriented
The Path-Goal Theory states that Dr. Weiss would respond best and benefit most from an achievement-oriented leadership style. An achievement-oriented leader sets high goals for their employees and expects them to perform at their best. The employees are not told the specific ways to meet these high goals, being expected instead to use their own abilities to figure out how. An achievement-oriented leadership style is known to work for sales and especially scientific fields, such as the one that Dr. Weiss works in.

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3 years ago