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Verizon [17]
3 years ago
5

All of the following statements are true with regard to qualifying business losses EXCEPT: The loss will reduce any other curren

t-year qualified business income of the taxpayer. After reducing all current-year qualifying business income, any remaining loss will be carried forward to the following tax year. Qualifying losses from 2017 were carried forward to the taxpayer's 2018 tax return. Qualifying losses from 2018 are the first year losses to be carried forward to the following tax year.
Business
1 answer:
avanturin [10]3 years ago
4 0

All of the following statements are true with regard to qualifying business losses EXCEPT: Qualifying losses from 2017 were carried forward to the taxpayer's 2018 tax return.

Explanation:

The loss would reduce any other eligible income of the applicant for the current year. An investor shall recover the QBI from various trades or businesses, including damages.

Upon deduction of all qualified company gains for the current year, the excess of the income shall be rolled forward to the next tax year. The unfavorable balance shall be shifted into the next fiscal year.

If the loss was incurred after 2018, the excluded or lost element is included in QBI and would otherwise be included in QBI, but is included in taxable income not until the year.

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Prime Corp. has an ending balance in the accounts receivable account of $100,000. Prime recorded bed debt expense of $3000. Prim
Lelu [443]

Answer:

True

Explanation:

Prime's net realizable value of accounts receivable = accounts receivable balance - allowance for uncollectible accounts = $100,000 - $7,000 = $93,000

Bad debt expenses have already been debited, so they are no longer part of the allowance for uncollectible accounts.

5 0
3 years ago
You want to have $13,000 in 9 years for a dream vacation. If you can earn an interest rate of .4 percent per month, how much wil
alexdok [17]

Answer:

PV= $8,447

Explanation:

Giving the following information:

Future value= $13,000

Number of months= 9*12= 108

Interest rate= 0.4/100= 0.004 compounded montlhy

To calculate the initial investment required, we need to use the following formula:

PV= FV/(1+i)^n

PV= 13,000/(1.004^108)

PV= $8,447

7 0
3 years ago
There were 80 people in the houses I visited. 16 of them were children under the age of 16, 25 people had full-time jobs, and 8
miss Akunina [59]

The labor force that can be depicted from the information about the people will be 36.

<h3>How to calculate the labor force</h3>

The labor force will be:

= 25 + 8 + 3

= 36

The unemployment rate will be:

= Unemployed/Labor force × 100

= 3/36 × 100

= 8.33%

The participation rate will be:

= Labor force/Adult population × 100

= 36/(80 - 16) × 100

= 56.25%

Learn more about the labor force on:

brainly.com/question/24939447

4 0
2 years ago
When investors give computer instructions to sell automatically to avoid potential losses if their stock price dips to a certain
marysya [2.9K]

When investors give computer instructions to sell automatically to avoid potential losses if their stock price dips to a certain point, it is called program trading.

<h3>What is program trading?</h3>

Program trading is what create space or time for multiple trades to occur simultaneously.

It is an automated process that gives instructions to computers to sell when price of a stock goes down to prevent loss.

Learn more about program trading here: brainly.com/question/13955369

#SPJ1

6 0
2 years ago
The Tuck Shop began the current month with inventory costing $10,000, then purchased inventory at a cost of $35,000. The perpetu
GREYUIT [131]

Answer:

$500 shrinkage

Explanation:

Calculation to determine the amount of shrinkage occurred during the month

Using this formula

Shrinkage=Ending inventory-Actual count

Let plug in the formula

Ending inventory=$10,000 + $35,000 - $30,000 Ending inventory= $15,000

Shrinkage=$15,000 - $14,500

Shrinkage= $500

Therefore the amount of shrinkage occurred during the month is $500

6 0
3 years ago
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