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LekaFEV [45]
3 years ago
9

Trey, Inc. reports a taxable loss of $140,000 for 2018. Its taxable incomes for the years 2015 through 2017 respectively were $2

5,000, $35,000, and $40,000. Trey has no temporary or permanent differences. Trey elects the carryback provision. Trey expects taxable income in future years and has a tax rate of 30% for all periods affected. What should Trey report as Net Loss on its 2018 income statement?
Business
1 answer:
laiz [17]3 years ago
8 0

Answer:

$117500

Explanation:

Taxable loss = $140000 for 2018

Taxable incomes : $25000 for 2015, $35000 for 2016, $40000 for 2017

tax rate = 30%

Net loss on 2018 income statement can be offset by the taxes paid on taxable income for 2 years prior to 2018 ( i.e 2016 and 2017 )

first calculate taxes on taxable incomes for 2016 and 2017

$35000 * 30% = $10500

$40000 * 30% = $12000

hence taxable profit = 10500 + 12000 = $22500

Net loss to be reported on 2018 income statement

= $140000 - $22500 = $117500

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A registered representative is considering prospecting a wealthy family member to see if she will open a brokerage account at hi
Pie

Answer:

B. This prospect can be called by the registered representative.

Explanation:

A  registered representative may be defined as a person working for a client facing financial firm like the brokerage firm and he acts as the representative for the clients who are trading the investment products as well as securities.

In the context, the prospect can be called by the registered representative. But there are three exceptions that are provided for the cold calls to any individual who are on the national Do not call list :

--- Established business relationship exception.

--- Prior express written consent exception

--- Personal relationship with the associated person exception.

Therefore, option (B) is correct.

3 0
3 years ago
A 10-year bond with semi-annual coupons is bought at a discount to yield 9% convertible semiannually. If the amount for accumula
Licemer1 [7]

Answer:

The answer is 33.98.

Explanation:

Discount the accumulation of discount in the 19th coupon 18 periods to find the accumulation of discount in the first coupon. Then find the FV of an annuity with 8 as the number of periods with the accumulation of discount in the first coupon as the payment and and you will get 33.98.

Given di19 = C(i − g)v^{20-19+1} = C(i − g)v^{2} = 8, So

= C(i − g)v^{2}(v^{18}+v^{17}+...+v^{11})

=8(\frac{1}{1.045})^{10} \frac{1-(\frac{1}{1.045} )^{8} }{0.045}

=33.98

7 0
4 years ago
Anna worked for over an hour trying to set up her new phone by going online to access the manual. She finally gave up and used t
Marina CMI [18]
Aware or informed - knowledgeable accessible
3 0
3 years ago
Think of a scene from a popular movie that shows an involuntary exchange (where a buyer or seller is forced to participate). Ide
saul85 [17]

A scene from a popular movie that shows an involuntary exchange (where a buyer or seller is forced to participate) could be in Star Wars, where it fictionally demonstrates the conquest of different planets and galaxies by force, through theft, destruction and violence.

If the exchange were voluntary, the negotiation would take place in a way that is beneficial to both the buyer and the seller, where each would be involved in a legal and ethical agreement to carry out a transaction.

<h3 /><h3>What is the benefit of voluntary exchange for the economy?</h3>

It assists in the positive development of the market, as voluntary exchange ensures that buyers and sellers benefit from an exchange process, which is an essential principle for the global free trade system.

Therefore, voluntary exchange must be promoted in the world economy, where nations exchange resources in ways that benefit local economic development.

Find out more about voluntary exchange here:

brainly.com/question/26349405

#SPJ1

7 0
2 years ago
Which of the following is NOT a step in the strategic planning process?A) defining the company missionB) setting company objecti
Colt1911 [192]

Answer:

Which of the following is NOT a step in the strategic planning process?

E) evaluating all members of the value chain

Explanation:

Strategic planning is an organization's process of defining its strategy, or direction, and making decisions on allocating its resources to pursue this strategy. It may also extend to control mechanisms for guiding the implementation of the strategy

4 0
3 years ago
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