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scoundrel [369]
3 years ago
7

2020 $ 358,000 2021 (600,000 ) 2022 728,000 Puritan's tax rate is 36% for all years. Puritan elected a loss carryback. As of Dec

ember 31, 2021. Puritan was certain that it would recover the full tax benefit of the NOL that remained after the operating loss carryback. What did Puritan report on December 31, 2021, as the deferred tax asset for the NOL carryforward
Business
1 answer:
AleksAgata [21]3 years ago
5 0

Answer:

$87,120

Explanation:

The computation of the deferred tax asset for the NOL carryforward is shown below:

= (Loss for year 2021 - income for year 2020) × tax rate

= ($600,000 - $358,000) × 36%

= $242,000 × 36%

= $87,120

Since there is a loss in year 2021 and income in year 2022 which is to be adjusted and the same is shown above

Therefore the deferred tax assets for the NOL carryforward is $87,120

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Nina [5.8K]

Answer:

The aggregate amount received for the quarter amounts to $103.4

Explanation:

The computation of aggregate amount received for the quarter is as follows:

Aggregate amount received for the quarter = Number of Shares owned × Price Paid per share

where

Number of Shares owned is 220 shares

Price paid per share is $0.47 per share

Putting the values above:

= 220 × $0.47

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To make it edible and digestible

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