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DENIUS [597]
3 years ago
6

Madison Corporation reported taxable income of $400,000 in 20X3 and accrued federal income taxes of $136,000. Included in the co

mputation of taxable income was regular depreciation of $200,000 (E&P depreciation is $60,000) and a net capital loss carryover of $20,000 from 20X2 utilized in 20X3. The corporation's current earnings and profits for 20X3 would be:
A. $424,000
B. $404,000
C. $380,000
D. $344,000
Business
1 answer:
kap26 [50]3 years ago
5 0

Answer:

A) $424,000

Explanation:

Madison Corporation's current earnings and profits for 20x3 would be:

reported taxable income - accrued federal income taxes + regular depreciation - E&P depreciation + net capital loss carryover =

$400,000 - $136,000 + $200,000 - $60,000 + $20,000 =  $424,000

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external secondary data

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This type of data is very useful because it can help us to reduce the costs of a marketing research or other types of studies. A lot of information can be found on the internet, but you must try to use only the information that comes from reliable sources.

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Which type of rice will remain firm and separate when cooked properly?
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Long-Grained rice. Hope this helps:)
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A(n) __________ is a set of guidelines for a business to follow when recruiting prospective employees.
Nezavi [6.7K]

Answer:

recruitment policy

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3 0
3 years ago
A company had inventory on November 1 of 5 units at a cost of $20 each. On November 2, they purchased 10 units at $22 each. On N
elixir [45]

Answer: A $304

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On November 1, total value of inventory = $20 × 5 =$100

On November 2, total value of inventory = $100 + ( $22 × 10) = $320

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6 0
3 years ago
At the beginning of a year, a company predicts total direct materials costs of $900,000 and total overhead costs of $1,170,000.
ASHA 777 [7]

Answer:

1.30

Explanation:

The cost of production is usually split into direct and indirect cost or overheads. the overheads is usually stated as a function of the direct cost( labour, machine hours, materials etc.)

The predetermined overhead rate

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= 1.3

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3 years ago
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