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gogolik [260]
3 years ago
6

No Edges Left Behind Enterprises has book income of $1,200,000 which consist of income tax expense of $380,000, municipal bond i

nterest income of $10,000 and business meals expense of $150,000. Using only these items, what is the cmpany's taxable income
Business
1 answer:
damaskus [11]3 years ago
6 0

Answer:

$1,645,000

Explanation:

The computation of the taxable income is shown below:

Taxable income is

= Book income + income tax expenses - muncipal bond interest + (50% ×  meal expenses)

= $1,200,000 + $380,000 - $10,000 + ($150,000 × 50%)

= $1,645,000

We simply recognized only 50% of meal expenses and with the help of above items we calculated the taxable income

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Answer:

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That is, there is the use of a study of solutions of problems and techniques so that the use of resources and the decision-making process are potentialized for the production of a good or service.

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3 years ago
Which of the following is considered a cause of inflation?
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The answer would be,

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          Hope this helps :)

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3 years ago
What is an externality? how do externalities relate to socially optimal quantity?
Elodia [21]
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Explanation:

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4 0
3 years ago
Categories of manufacturing costs include ______. Multiple select question. direct labor manufacturing overhead direct materials
Luda [366]

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