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vazorg [7]
4 years ago
13

Sunset Corporation (a C corporation) had operating income of $200,000 and operating expenses of $175,000. In addition, Sunset ha

d a $30,000 long-term capital gain, a $52,000 short-term capital loss, and $5,000 tax-exempt interest income. What is Sunset Corporation's taxable income for the year
Business
1 answer:
sleet_krkn [62]4 years ago
4 0

Answer:

Sunset Corporation's taxable income is $3,000

Explanation:

Calculation of Sunset Corporation's taxable income is as worked below

Taxable Income = Operating Income - Operating Expenses + Capital Gains - Capital Losses  

Taxable Income = $200,000 - $175,000 + $30,000 - $52,000

Taxable Income = $3,000.  Hence, Sunset Corporation's taxable income is $3,000

 

Note that taxable income is the amount of income used to calculate how much tax an individual or a company owes or is going to pay the government in a particular tax year.

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If hat size and iq are positively correlated, which of the following is true? people with large heads tend to have high iqs. peo
zmey [24]
People with large heads tend to have high iqs.
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3 years ago
Conlon chemicals manufactures paint thinner. information on the work in process follows: • beginning inventory, 40,000 partially
amid [387]
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5 0
3 years ago
Hartley Company produces two products, Flower and Planter. Flower is a high-volume item totaling 20000 units annually. Planter i
ANTONII [103]

Answer:

The correct answer is A.

Explanation:

Giving the following information:

Estimated manufacturing overhead= 960,000

Estimated number of hours= 32,000

To calculate the estimated manufacturing overhead rate we need to use the following formula:

Estimated manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base

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Now, we can allocate to each unit of Planter:

Allocated MOH= Estimated manufacturing overhead rate* Actual amount of allocation base

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5 0
3 years ago
As a top manager, Joanna works with others within her team every day in making important corporate decisions. Her preferred deci
kati45 [8]

Answer:

Brainstorming

Explanation:

The brainstorming talks about the provision of number of alternative solutions that will be useful for the decision making process and helps in choosing the best option as the number of alternatives will be assessed on a set criteria. So the strategy here is talking about the consideration of number of alternatives for the decision making which is the job of Joanna. Hence Joanna is using the Brainstorming approach for better decision making.

4 0
3 years ago
During the ________ stage of the product life cycle, product proliferation occurs as competitors attempt to differentiate their
Anton [14]

Answer:

The answer is introduction

Explanation:

During the __introduction______ stage of the product life cycle, product proliferation occurs as competitors attempt to differentiate their company's brand from others.

3 0
3 years ago
Read 2 more answers
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