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AVprozaik [17]
3 years ago
11

Bali Inc. reported $605,800 net income before tax on this year’s financial statements prepared in accordance with GAAP. The co

rporation’s records reveal the following information.
• Depreciation expense per books was $53,000, and MACRS depreciation was $27,400.

• Bali sold business equipment for $100,000 cash. The original cost of the equipment was $125,000. Book accumulated depreciation through date of sale was $48,000, and MACRS accumulated depreciation through date of sale was $63,000.

• Bali sold investment land to Coroda, a corporation owned by the same person that owns Bali. The amount realized on sale was $115,000, and Bali’s basis in the land was $40,000.

• Bali sold marketable securities to its sole shareholder. The amount realized on sale was $51,450, and Bali’s basis in the securities was $75,000. Compute ZEJ’s taxable income.
Business
1 answer:
kodGreya [7K]3 years ago
4 0

Answer:

$669,950

Explanation:

Computation of taxable income

Bali’s net book income before tax$605,800 Excess of book over tax depreciation25,600

Book gain on equipment sale$(23,000)

(53,000-27,400)

Tax gain on equipment sale38,000 15,000

(23,000-38,000=15,000)

Nondeductible loss on sale to related party 23,550

(75,000-51,450)

Taxable income$669,950

(605,800+25,600+15,000+23,550)

Therefore the taxable income will be $669,950

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3. How do global factors influence the economy in your country?
77julia77 [94]

Answer

Hi,

In a developing nation, global factors that can influence the economy are political populism, global insecurity and the refugee crisis

Explanation

Making the explanation from 2016, this year was a challenging and difficult one for the global economy. First it was marked by political populism where President Donald Trump, Marine Le Pen and other influential figures took advantage weak economies and low productivity growth to talk on real wages and consumption.

The U.S presidential election being a major political event in 2016, the main issue was on the possibility of restoring the US as a global force for stability after Obama. Security issue raised due to inferior foreign policies and unwillingness to direct military forces in difficult regions.

Refugee was a major factor during 2016 where millions of individuals entered Europe seeking asylum. Many people were displaced in 2015 with countries like Germany, Hungary and Sweden receiving high inflows of refugee.

Good luck!

5 0
3 years ago
You are the manager of a large​ crude-oil refinery. As part of the refining​ process, a certain heat exchanger​ (operated at hig
lubasha [3.4K]

Answer:

The company could pay up to 866,965.89 dollars today to solve the current heat exchanger situation

Explanation:

We have to determinate the present value of 7 year annuity which increase at a rate of 7% when the cost of capital is 15% being the first quota 175,000 dollars

\frac{1-(1+g)^{n}\times (1+r)^{-n} }{r - g}  

grow rate 0.07  

required return 0.15

Cuota 175,000

n 7

PV =  866,965.89  

5 0
3 years ago
If a johnny rocket's burgers has 11,500 burgers in inventory on hand and they sell 1,000 units a day, how many days of inventory
riadik2000 [5.3K]
11.5 days, assuming none of the burgers expire before then.
8 0
3 years ago
In a newsvendor model where the demand has normal distribution, if Co < Cu, i.e., the overage cost is lower than the underage
mars1129 [50]

Answer:

maximum

Explanation:

The newsvendor model may be defined as the mathematical model which is characterize by the fixed prices as well as the uncertain demand for the perishable products. This model is mainly used to determine the optimal inventory level.

According to the newsvendor model, there is only one opportunity to order. The cost of buying large quantities of the products may result in disposing them or selling the products at a lower price.

The optimal ordering quantity is maximum when the underage cost is higher than the overage cost.

8 0
2 years ago
On January 1, Skysong, Inc. had 90,500 shares of no-par common stock issued and outstanding. The stock has a stated value of $5
timama [110]

Answer:

No. of shares outstanding = A

Par Value (at $5)  = B

Additional Paid in capital in excess of Par = C

Dividend  = D

                                          A             B(A*$5)            C               D

Jan 1 balance               90,500       $452,500          $0

                                    shares

Add: Issued Apr 1         21,000         $105,000   $294000

                                    shares

June 30 Balance         111,500      $557,500   $294,000   $111,500

                                    shares                                     [111,500 shares x $1]

Add: Dec 1 Issued       2,500 shares $12,500      $32,500

Dec 31 Balance            114,000         $570,000  $326,500  $490,200

                                                                                  [114,000 shares x $4.3]

Journal Entries based on above

Date         Accounts Titles          Debit            Credit

15-Jun     Dividends                 $111,500

                    Dividends payable                     $111,500

10-Jun      Cash                         $111,500

                     Dividends                                 $111,500

15-Dec      Dividends                   $490,200

                     Dividends payable                   $490,200

6 0
3 years ago
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