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olga2289 [7]
3 years ago
12

Pierre Corporation has a precredit U.S. tax of $315,000 on $1,500,000 of taxable income in the current year. Pierre has $300,000

of foreign source taxable income characterized as foreign branch income and $150,000 of foreign source taxable income characterized as passive category income. Pierre paid $60,000 of foreign income taxes on the foreign branch income and $15,000 of foreign income taxes on the passive category income. What amount of foreign tax credit (FTC) can Pierre use on its current U.S. tax return and what is the amount of the carryforward, if any
Business
1 answer:
blsea [12.9K]3 years ago
7 0

Answer:

Foreign tax credit = $75,000

Carry forward balance = 0

Explanation:

As per the data given in the question,

Precredit U.S. tax = $315,000

Taxable income = $150,000

Foreign source = $300,000

Foreign source taxable income = $150,000

Paid =$60,000

Foreign income tax = $15,000

Pierre can have foreign credit tax = $60,000 + $15,000

=$75,000 whereas carry forward amount is zero

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Stealth bank holds deposits of $200 million. It holds reserves of $15 million. It has purchased government bonds worth $75 milli
tiny-mole [99]

Answer:

$220 million

Explanation:

Stealth bank total value of liabilities will be:

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Market value (loan) $130 million

Value of bank liabilities $220 million

4 0
3 years ago
Joe Corporation produces and sells two products. In the most recent month, Product C90B had sales of $19,950 and variable expens
8_murik_8 [283]

Answer:

Decrease

Explanation:

Calculation to determine overall break-even point for the entire company

Contribution margin for C90B = ($19,950-

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Therefore Based on the above calculation if the sales mix were to shift toward Product C90B with total dollar sales remaining constant, the overall break-even point for the entire company

Would DECREASE reason been that C90B have more contribution margin ratio of 70% compare to Y45E which had contribution margin ratio of 60%

4 0
2 years ago
What kinda of block can result from poor language skills
lesantik [10]

Answer:

Lack of communication can cause minunderstanding and confusion with both parties

Explanation:

5 0
3 years ago
Becca has $500 to open a checking account. She wants an account with the lowest fees. She writes about 12 checks per month and h
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Answer:

Low balance checking account

Explanation:

Since Becca has a small amount of money, only $500, and only uses the ATM around 4 times per month, her best option is a low balance checking account. This type of checking account works very well for people that can only keep a small balance. Many banks don't charge fees for this type of account as long as you write only a limited number of checks, your bank statement is sent to you online, and you use only  their ATMs.

The other types of checking accounts usually require much higher balances, and of the minimum balance is not met, then they will charge you a monthly fee.

7 0
3 years ago
Read 2 more answers
The better-off test for evaluating whether a particular diversification move is likely to generate added value for shareholders
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Answer:  Has competitively valuable value chain match-ups with the company's present businesses such that its businesses can perform better together than apart.

Explanation:

The better-off test of diversification is that the company must gain a return that is higher than incremental growth. Incremental growth is usually defined a 1 + 1 = 2 formula and this test argues that Diversification must provide more than this such that the company achieves synergistic growth ( 1 + 1 = 3) which is what happens when different entities work better together than alone.

Diversification should therefore be into an area that will be able to match-up with the company's present businesses such that its businesses can perform better together than apart and produce even greater returns.

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