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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)

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A group of workers normally consists of 60 men, 30 women and 20 boys. They are paid at standard hourly rates as under:
dexar [7]
  1. Labour cost variance =  R.s 33,000 (F)
  2. Labour rate variance = R.s 33000 (F)
  3. Labour efficiency variance = 0

Given:

Standard Number of men = 60

Standard Number of women = 30

Standard Number of boys = 20

Standard hour rate for men = R.s 280

Standard hour rate for women = R.s 160

Standard hour rate for boys = R.s 140

Weekly working hour = 40 hours

Expected unit = 5,000 units

Number of men in march week = 70

Number of women in march week = 25

Number of boy in march week = 25

Actual wage for men = R.s 270

Actual wage for women = R.s 165

Actual wage for boys = R.s 130

Actual units = 4,500 units

Find:

  1. Labour cost variance
  2. Labour rate variance
  3. Labour efficiency variance

Computation:

Labour cost variance = [SC for AO] - AC

Labour cost variance =  [( 70 × 280) + (25 × 160) + (25 × 140)] - [(70 × 270) + (25 × 165) + (25 × 130)] × 40  

Labour cost variance = (27,100 - 26,275 ) × 40

Labour cost variance =  R.s 33,000 (F)  

Labour rate variance = (SR - AR) × AH worked

Labour rate variance = [(280 - 270)70 + (160 - 165)25 + (140 - 130)25]40

Labour rate variance = [700 - 125 + 250]40

Labour rate variance = [825]40

Labour rate variance = R.s 33000 (F)

Labour efficiency variance = (SH allowed - AH worked)SR

Labour efficiency variance = (0 - 0)SR

Labour efficiency variance = 0

Learn more;

brainly.com/question/22856853?referrer=searchResults

5 0
2 years ago
Bill and Brenda bought their home for $150,000. They made $50,000 of improvements. They sold the home for $450,000 and paid $30,
adell [148]

Answer:

Explanation:

Capital gains tax is a tax that is levied on the profit made from the sale of a non-inventory asset. The most common sources of capital gains are through the sale of bonds, precious metals, stocks, property, and real estate.

The IRS typically allows an exclusion of up to: $250,000 of capital gains on real estate for a single person and $500,000 of capital gains on real estate for a married couple who are filing jointly.

To find the amount on which they pay capital gains:

The adjusted basis is $200,000 which is:

Initial cost of buying the house for $150,000, plus cost of improvements $50,000.

The sales price of $450,000 minus the selling expenses which cost $30,000.

The amount realized is therefore:

$450,000 - $30,000 = $420,000.

Note: They will receive an exclusion of $500,000 because they are filing jointly. So Bill and Brenda will not pay any capital gains tax.

6 0
2 years ago
Read 2 more answers
Sidney took a $150 cash advance by using checks linked to her credit card account. The bank charges a 2 percent cash advance fee
strojnjashka [21]

Answer:

A.) 3%; B.) 2% ; C) $155; D) $150

9) $78 ; $1278

10) a) $5940; b) $19440; c) $279; D) 21.64%

Explanation:

Amount = $150

Cash advance rate = 2% = 0.02

A.) cash advance fee = $150 × 0.02 = $3

B.) Interest for one month at APR of 18%

Interest = principal × time × rate

$150 × (1÷12) × 0.16 = $2.00

C.) Total amount paid

$(150 + 3 + 2) = $155

D.) $150

9.)

Interest = principal × rate × time

t = 6 months = (6/12)

Rate (r) = 0.13

Principal = $1200

Interest = $1200 × 0.13 × 0.5 = $78

Total amount = down payment + principal borrowed + interest

Total amount = 0 + $1200 + $78 = $1,278

10.)

Price = $13,500

Down payment = $2700

Loan required = $10,800

Add-on rate = 11% = 0.11

Period = 5 years

A.) Interest = $10,800 × 0.11 × 5 = $5,940

B.) Total cost = Down payment + Principal borrowed + interest paid

$2700 + $10,800 + $5940 = $19,440

C.) Monthly Payment = (Principal Borrowed + Total interest) / Total number of payments

Monthly Payment = ($10800+ $5940) / (12×5)

Monthly payment = $16740 ÷ 60 =$279

D.) Annual percentage rate (APR)

APR= (2 × n × I) / [P × (N + 1)]

APR = (2 × 12 × 5940) / [10800 × (60+1)]

APR = 142560 ÷ 658800

APR = 0.21639

APR = 21.64%

7 0
2 years ago
Refer to the following selected financial information from Marston Company. Compute the company's accounts receivable turnover f
Artyom0805 [142]

Answer:

The correct option is E

Explanation:

The formula to compute the accounts receivable turnover of the company for the Year 2 is as:

Accounts Receivable Turnover = Net Credit Sales / Average Accounts Receivable

where

Net Credit Sales be $723,000

And

Average Accounts Receivable is computed as:

Average Accounts Receivable = Accounts receivable Year 1 + Accounts receivable Year 2 / 2

= $86,500 + $82,750 / 2

= $169,250 / 2

= $84,625

Putting the values in the above formula:

= $723,000 / $84,625

= 8.54

5 0
2 years ago
An blank is a statement used to communicate ones feelings in a nonconfrontational manner.​
Vaselesa [24]

Answer:

An art

Explanation:

An art is a blank is a statement used to communicate ones feelings in a nonconfrontational manner.​

3 0
3 years ago
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