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vovikov84 [41]
2 years ago
6

GMC is considering launching a new line of hybrid diesel-electric SUVs. The heavy advertising expenses associated with the new S

UV launch would generate operating losses of $30 million next year. Without the new SUV, GMC expects to earn pre-tax income of $80 million from operations next year. GMC pays a 30% tax rate on its pre-tax income.
Required:
1. The amount that GMC owes in taxes next year with the launch of the new SUV is closest to __________.
Business
1 answer:
uranmaximum [27]2 years ago
4 0

Answer:

$24 million

Explanation:

Given that

Tax rate = 30%

Pre-tax income = $80 million

The calculation of  pre-tax income next year is shown below:-

The 30% taxes on pre-tax income × $80 million next year

= 30% × $80 million

= $24 million

Therefore, SUV is not introduced so here we will not consider the operating loss for the next year $30 million.

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The graphic-design team meets weekly with the executive director of marketing, Mr. Kitano. Identify the adjectives in the preced
Mila [183]

Answer: Graphic -design, Executive

Explanation: Adjectives are words that qualify a noun. They give more information and specifics about the now they qualify. In the preceding sentence, the adjectives are Graphic-design which qualifies the noun 'team' and Executive which qualifies the now 'Director'.

4 0
2 years ago
The following is a partial year-end adjusted trial balance. Account Title Debits Credits Sales revenue $ 460,000 Loss on sale of
dalvyx [7]

Answer:

a) Operating Income = $73,000

b) Net income before income tax = $25,500

Explanation:

First part of the question is to determine the operating income or loss of the business

It is calculated as follows

Particulars                                          Amount

Sales Revenue                                  $460,000

Subtract: Cost of goods sold           ($240,000)

General and Administrative exp.       ($56,000)

Restructuring Costs                             ($58,000)

Selling Expenses                                  ($33,000)

Operating Income                             $73,000

Second part is to determine the income or loss before income taxes

Particulars                                            Amount

Operating Income                                 $73,000

Add: Interest Revenue                         $6,500

Deduct:Loss on sales of investment  ($54,000)

Income before Income Tax                  $25,500

Finally, the Net Income or loss after Income tax

$25,500 x .25 = $6,375

7 0
2 years ago
The Dells Cargo bank was rocked by scandal with the discovery of one million phony accounts created by employees to hit sales ta
77julia77 [94]
You’re answer would be B love!
5 0
3 years ago
Taxable income of a corporation
kobusy [5.1K]

Answer:

Option b. Differs from accounting income due to differences in interperiod allocation and

permanent differences between the two methods of income determination.

Explanation:

Corporation examples are joint stock companies, joint accounts, associations, insurance companies e.t.c.

A Corporation taxable income is simply defined as a part of its profits generated by corporations that is collected by the Federal and State government as an income tax. It is known as a direct tax. It is placed on the net income or profit of a corporate organization. The tax rate for corporation uses the slab rate system or method of taxation that is based on the type of corporate entity and the different revenues gotten by them individually.

6 0
3 years ago
Driving consists of a ______________ process that is used hundreds of times per mile traveled
abruzzese [7]

Driving consists of a <u>"decision making" </u>process that is used hundreds of times per mile traveled .


Driving a commercial vehicle requires your complete consideration since it is a decision-making process.

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While working a commercial vehicle, the driver must settle on the right choice in a brief instant. Inability to settle on the right choice can put the motoring open and the business driver in danger of damage or demise.


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