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
Pavlova-9 [17]
3 years ago
15

Ramirez Corporation is subject to income tax only in State A. Ramirez generated the following income and deductions. Federal tax

able income $500,000 State A income tax expense 45,000 Depreciation allowed for Federal tax purposes 300,000 Depreciation allowed for state tax purposes 250,000 ​ Federal taxable income is the starting point in computing A taxable income. State income taxes are not deductible for A tax purposes. Ramirez’s A taxable income is:
a.$495,000.
b.$500,000.
c.$545,000.
d.$595,000.
Business
1 answer:
Alborosie3 years ago
8 0

Answer:

a. $495,000

Explanation:

Data provided

Federal taxable income = $500,000

State A income tax expense = $45,000

Depreciation Modification = $300,000, $250,000

The computation of taxable income is shown below:-

Federal taxable income + State A income tax expense - Depreciation Modification

= $500,000 + $45,000 - ($300,000 - $250,000)

= $545,000 - $50,000

= $495,000

You might be interested in
Match each important word with the phrase that best defines it.
Artyom0805 [142]

report the other answers it’s a virus
5 0
2 years ago
Briefly explain the term market economy​
Alchen [17]

Answer:

a market economy is a system where the laws of supply and demand direct the production of goods and services

6 0
2 years ago
Beauty Island Corporation began operations on April 1 by issuing 60,000 shares of $5 par value common stock for cash at $13 per
Eddi Din [679]
Norovirus is a very contagious virus that causes vomiting and diarrhea. People of all ages can get infected and sick with norovirus. Norovirus spreads easily! People with norovirus illness can shed billions of norovirus particles. And only a few virus particles can make other people sick.
6 0
3 years ago
Dee's made two announcements concerning its common stock today. First, the company announced that the next annual dividend will
amid [387]

Answer:

The value of the stock at the given discount rate is $9.5

Explanation:

Here, we are interested in calculating the value of the stock at the given discount rate.

To do this, we employ a mathematical formula;

Value of the stock = Expected dividend ÷ (discount rate-growth rate)

According to the question, we identify the following;

Expected dividend = $1.58

Growth rate(negative) = -1.15% = -1.15/100 = -0.0115

Discount rate = 15.5% = 15.5/100 = 0.155

Plugging these values into the equation, we have;

Value of the stock = 1.58 ÷ (0.155 - (-0.0115)

Value of the stock = 1.58/(0.155 + 0.0115)

Value of the stock = 1.58/0.1665 = $9.5

5 0
3 years ago
Lyons Company deducts insurance expense of $210,000 for tax purposes in 2021, but the expense is not yet recognized for accounti
Goryan [66]

Answer:

$42,000

Explanation:

Deferred tax liability can be defined as the tax liability which has been due for the current period but has not yet been paid such as installment sales receivable.

Insurance expense of $210,000

Tax rate of 20%

( $210,000 × .20 )

=$42,000

Therefore the amount of the deferred tax liability at the end of 2021 will be $42,000

6 0
3 years ago
Other questions:
  • Goodman Company's inventory records show the following data: Units 5,000 4,500 3,000 Unit Cost $9.00 8.20 7.00 Inventory, Januar
    10·1 answer
  • Potential founders assess their additional skills and they tailor their business to their
    7·1 answer
  • In three or four sentences, describe why the vice president in a company makes a very high salary while a person who works in hu
    11·1 answer
  • Which of the following is a measure of liquidity?
    11·1 answer
  • Recent news articles indicate that traditional retail outlets such as malls and big box stores are becoming less and less profit
    14·2 answers
  • SuperOil has a debt-to-value ratio of 15%. Its revenue is 100,000 per year and cost is 70,000 per year forever. Its cost of debt
    7·1 answer
  • A CFO is looking at the end-of-year financial statements. His goal is to identify the store that performed the best over the pas
    10·1 answer
  • Why might one doubt that current forms of digital money, such as Bitcoin, will replace more traditional fiat currencies?
    5·1 answer
  • Combines technology with manual employee effort to identify trends, perform comparisons and highlight opportunities in supply ch
    14·1 answer
  • Rachel's Designs has 2,000 shares of 7%, $50 par value cumulative preferred stock issued at the beginning of 2019. All remaining
    10·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!