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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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A. they are non competitors because they sell two different things.
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4 years ago
Assume investors expect a 2.0 percent real rate of return over the next year. If inflation is expected to be 0.5 percent, what i
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Answer:

The correct answer is 2.5%

Explanation:

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3 years ago
Which word is the subject complement of the sentence?
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C Ethan 
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7 0
3 years ago
Read 2 more answers
Tina specializes in newspaper print layout. Unfortunately, her newspaper transformed into a digital-copy only and she was laid o
mr_godi [17]

Answer:

Structural

Explanation:

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This is a type of long-term unemployment, which can negatively impact a society, with a large number of people unemployed and disqualified for current job openings, to reduce this problem, it is necessary that companies invest in training programs and effective qualifications so that its employees can follow the structural changes that occurred in their jobs.

6 0
3 years ago
Beginning inventory, purchases, and sales for Item Zeta9 are as follows:
Taya2010 [7]

Answer:

(a) The cost of goods sold on October 24

: $552

(b) The inventory on October 31: $532, (with 19 units)

Explanation:

The company uses a perpetual inventory system and using the first-in, first-out (FIFO) method for Item Zeta9, the answers are explaned with the help of the attached file:

The Cost of goods sold on October 24: $300+$252=$552                              

Download xlsx
5 0
3 years ago
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