Answer and Explanation:
1.
Net Operating loss carryback Amount Rate of Tax Tax Recorded as
Carried back - 2014 $0.0 30% $0.0
Carried back - 2015 $0.0 30% $0.0
Carried back - 2016 $42,000 35% $14,700.0
Carried back - 2017 $8,000.0 40% $3,200.0
Total Carryback $50,000.0 $17,900.0
Journal Entries - Cabot Company
Date Particulars Debit Credit
31-Dec-18 Receivables - Income Tax Refund $17,900
To Income tax benefit - Net Operating Loss $17,900
2. Cabot's net loss for 2018 = -$50,000 + $17,900
= ($32,100)
Answer:
d. $625,000
Explanation:
cost of goods available for sale = cost of goods manufactured during the current period + finished goods inventory at the beginning of the period
- cost of goods manufactured during the current period = $600,000
- finished goods inventory at the beginning of the period = $25,000
cost of goods available for sale = $600,000 + $25,000 = $625,000
cost of goods sold = cost of goods available for sale - ending inventory = $625,000 - $40,000 = $585,000
Answer:
- IFCO for 20x7 as it is reported comparatively in the 20x8 statements = $5,600
- IFCO for 20x8 = $6,800
Explanation:
1) IFCO for 20x7 as it is reported comparatively in the 20x8 statements, should not include the $400 operating income from the component = $6,000 - $400, or $5,600.
2) IFCO for 20x8 should not include the gains resulting from the disposal of the component nor the losses generated by it = $7,000 - $300 + $100 = $6,800
The underwriting unit, when considering risk factors for individual and group disability insurance, will review the "carrier history" of the group. The factors might the underwriters consider are stability, longevity, and price shopping.
Some major financial organizations, including banks, insurance companies, and investment firms, offer underwriting (UW) services, in which they guarantee payment in the event of harm or financial loss and accept the financial risk for responsibility resulting from such guarantee.
In a number of circumstances, such as insurance, security concerns in a public offering, and bank loans, an underwriting arrangement may be established. The underwriter is the person or organization that consents to sell a minimum quantity of the company's securities in exchange for a commission.
Once an underwriting agreement has been reached, the underwriter is responsible for the cost of keeping the underlying securities on its books while also taking on the risk of not being able to sell them.
To learn more about underwriting refer to:
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