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3 years ago

What is believed to be the purpose of the Woman from Willendorf?

1 answer:

6 0

The Woman of Willendorf, was carved of limestone and colored red with orche, in 30,000 - 25,000 BC. Archeologists have interpreted this statue in many different ways. The first hypothesis was that the figure was that it could be a "Venus figure" or "goddess" used to symbolize fertility. A second theory is that the statue was used as a good luck charm, because it was small, archeologists believe it was carried by men, on their hunting trips.

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The journal entry for Marigold Inc. at the end of 2017 to record carryback is as follows:

<h3>Journal Entry:</h3>

Debit Income Taxes Receivable $72,000

Credit Benefit Due to Loss Carry back $72,000

To record the refund of income taxes paid in the prior two years due to the loss recorded in 2017.

<h3>Data and Calculations:</h3>

Operating loss in 2017 = $482,000

Combined income for 2015 and 2016 = $360,000

Tax rate = 20%

Tax expenses for 2015 and 2016 = $72,000 ($360,000 x 20%)

<h3>Complete Question:</h3>

Marigold Inc. incurred a net operating loss of $482,000 in 2017. The combined income for 2015 and 2016 was $360,000. The tax rate for all years is 20%. Marigold elects the carryback option. Assume that it is more likely than not that the entire net operating loss carryforward will not be realized in future years.

Prepare the journal entry at the end of 2017 to record carryback.

Learn more about carryback loss at brainly.com/question/20722374

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