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
Mashcka [7]
3 years ago
13

Abbot Corporation reported a net operating loss of $400,000 in 20X3, which the corporation elected to carry forward to 20X4. Inc

luded in the computation of the taxable loss was regular depreciation of $100,000 (E&P depreciation is $40,000), first-year expensing under §179 of $50,000, and a dividends received deduction of $10,000.
The corporation's current E&P for 20X3 would be:

A. ($290,000)B. ($330,000)C. ($400,000)D. ($490,000)
Business
1 answer:
castortr0y [4]3 years ago
7 0

Answer:

Option A is correct one.

$290,000

Explanation:

= ($ 400,000)-$60,000-$ 40,000- $ 10,000

= $290,000

The first year expenses Under section 179 must be captilize and amortize in 5 year ($10,000 per year)

You might be interested in
On December 31, 2020, Grand Company had $1,232,000 of short-term debt in the form of notes payable due February 2, 2021. On Janu
VikaD [51]

Answer:

Current liabilities:

Notes payable   $8,000

Non-current/long-term liabilities:

Notes payable     $1,224,000

Explanation:

The actual amount of notes payable at 31st December is the difference between the short-term debt and the amount of cash realized from the issue of common stock whose proceeds are meant to be used in liquidating the short-term debt.

The actual amount of notes payable=$1,232,000-$1,224,000=$8,000

By issuing common stock of $1,224,000 to repay the short-term debt,the $1,224,000 is effectively converted to funding of long-term nature,hence classified as long-term liabilities

7 0
3 years ago
A firm must choose among three alternative ways to compensate its salaried employees. It can pay them at the end of each week, a
Murrr4er [49]
I believe the answer is B
6 0
2 years ago
Provide an example that shows variable costing is divided among different activities, and that each activity has its own predete
denis23 [38]

Answer:

Variable Expense - Cost driver

Machine setup cost - Number of Setups

Machine running cost - Machine hours used

Ordering Cost - No of orders placed

Labor Cost - Labor hours worked

Raw Material - Material usage rate

Transportation Cost - No of Orders delivered.

Explanation:

An organizational structure in one in which certain activities are aligned to achieve the ultimate goal of the organization. Similar types of set of machines together to get particular output product. The cost drivers in organizational structure can influence the output of a company.To determine the product cost per unit using the absorption costing we find the per unit rate for Variable Overheads for the activity by diving the total variable cost by its cost driver.

7 0
3 years ago
What three major federal taxes bring in most revenue ?
kumpel [21]

Income taxes, payroll taxes, and corporate income taxes.

Income taxes = individual employees pay out of their earnings

Payroll Taxes = social security tax, medicare, and unemployment tax. These are paid partially by the employees and partially by the employers

Corporate income taxes = paid by businesses as a percentage of their profits

6 0
3 years ago
What are the consequences to the schedule if completion of a primary task is delayed?
Licemer1 [7]
A I think dont trust me though but i think a
4 0
2 years ago
Read 2 more answers
Other questions:
  • First Choice Carpets is considering purchasing new weaving equipment costing $ 734 comma 000. The​ company's management has esti
    12·1 answer
  • Which of the following correctly describes how price adjustments eliminate a shortage?
    15·1 answer
  • The shortest type of distribution channel is called a _____.
    12·1 answer
  • A view of a spectacular sunset along a private beach is an example of_______.
    8·1 answer
  • What is an advantage of mild inflation according to some economists? select one:
    7·1 answer
  • On January 1, 1999, Luciano deposits 90 into an investment account. On April 1, 1999, when the amount in Luciano’s account is eq
    8·1 answer
  • Which audits or typically used as part of process management to help identify any areas where improvements often minor can be ma
    8·1 answer
  • Milan Company issued bonds with a face value of $200,000 on January 1, 2018. The bonds had a 7 percent stated rate of interest a
    12·1 answer
  • A campus has a policy that requires all chalkings to be removed each friday by designated staff. Is this policy content-neutral?
    14·1 answer
  • Provide the name of the financial institution and the account name
    8·2 answers
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!