1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
elena-s [515]
3 years ago
13

Test Pilot, Inc. reported a net operating loss of $25,000 for its tax year ended December 31, 2018. Test Pilot reported income o

f $20,000, $10,000 and $8,000 in 2019, 2020, and 2021, respectively. What is Test Pilot's 2019 income after NOL carry forward and the amount of NOL carry forward available for 2020?
Business
2 answers:
aalyn [17]3 years ago
6 0

Answer:

Net income after operating loss for 2019 is equal to $0 dollars and amount of net operating loss carried forward available in 2020 is equal to $5000.

Explanation:

Net loss is not deductible in the current year but can however be carried forward to the subsequent year and deducted against income in that year. Therefore the loss can only be deducted from 2019 on wards. The remainder of the net loss after deducting against 2019 income will be carried over into the subsequent  year and therefore $5000 is carried forward to the year 2020.

densk [106]3 years ago
4 0

Answer:

What is Test Pilot's 2019 income after NOL carry forward?

  • $20,000

What is Test Pilot's 2019 amount of NOL carry forward available for 2020?

  • $5,000

Explanation:

Test Pilot's net income after taxes for 2019 = net income - (net income - NOL carry forward) = $20,000 - [$20,000 - $20,000 (NOL carry forward cannot exceed income)] = $20,000 - $0 = $20,000

Carry forward for 2020 = total NOL carry forward - NOL carry forward used for 2019 income = $25,000 - $20,000 = $5,000

You might be interested in
In 1-2 sentences, explain how wage discrimination results in unequal pay.
oksian1 [2.3K]
Wage discrimination 
when somebody is paid less than somebody else based upon a physical characteristic
5 0
3 years ago
Decisions today are becoming _____ complex, due to _____ uncertainty in the decision environment. Question 25 options: 1) less,
denis-greek [22]

The answer is option 4 more and increased.

Explanation:

Decisions today are becoming more complex, due to increased uncertainty in the decision environment.

Decision making is planning, organizing, directing and controlling the functions of a manager at achieving organizational goals.

It provides more information and alternatives, improves the quality of decisions and helps in strengthening the organization.

In the decision phase of the decision making process the managers construct a model that reduces the problem. The decision rights identify and define the framework for how they will be made through operating process and support tools.

6 0
3 years ago
Which of the following is NOT a supertrend affecting the future of business? Multiple Choice Offshore suppliers are changing the
Yakvenalex [24]

Answer:

A multiple choice offshore suppliers are changing the way work

6 0
4 years ago
What’s the purpose of a ramp meter
Ronch [10]

Answer:

Explanation:

regulates the flow of traffic entering freeways according to current traffic conditions.

5 0
3 years ago
Read 2 more answers
According to Carl Jung, what are the two main ways that people process information?
nata0808 [166]
The answer is A. Thinking and sensing

The thinking type will rely on their analysis capabilities to process information, and make their decision based on their analysis projection

Meanwhile, the sensing type will rely on their 5 senses to process information, which mean they have to experience it first before they can make their decision
4 0
3 years ago
Other questions:
  • Many of the responsibilities associated with working in a professional sport organization, such as the National Football League
    7·1 answer
  • One of the four seasons hotel's customer-defined standards is "staff will speak to guests in an attentive, natural, and courteou
    5·1 answer
  • Cassie is giving a speech about the rising cost of higher education. In her first main point, she talks about how high the cost
    6·1 answer
  • If you receive a phone call and the caller asks for personal information, what should you do?
    7·2 answers
  • Blossom Corporation issued 2,000 $1,000 bonds at 101. Each bond was issued with one detachable stock warrant. After issuance, th
    12·1 answer
  • What is a credit limit?
    7·1 answer
  • Which of the following statements accurately describes the statement of cash flows?A) It is the link between net income and earn
    9·1 answer
  • Data related to the inventories of Costco Medical Supply are presented below:
    8·1 answer
  • There are four basic sources that multinational companies (MNCs) can tap for positions. These are: A. host-country nationals, th
    13·1 answer
  • Answer answer answer answer answer answer answer ​
    7·2 answers
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!