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Len [333]
3 years ago
11

In 2018, A Corp. had gross sales of $100,000,000 and business interest income of $20,000,000. A Corp. had deductible business ex

penses (other than interest) of $60,000,000 and business interest expense of $35,000,000. A Corp. had adjusted taxable income (adj. taxable income = taxable income without taking into account non-business income, business interest expense, business interest income or NOL) of $40,000,000.
What amount, if any, of A Corp.’s business interest expense deduction is disallowed in 2018?

What would your answer be (i.e. what amount of A Corp’s business interest expense would be disallowed) if instead A Corp. had gross sales of $1,000,000, business interest income of $200,000, deductible business expenses (other than interest) of $600,000, business interest expense of $350,000 and adjusted taxable income of $400,000? A Corp’s gross sales have been $1M for the past 3 years.
Business
1 answer:
luda_lava [24]3 years ago
4 0

Answer:

Explanation:

Divide by 2

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Answer:

req 1)

Plan A

0.42 x 150 + 0.17 x 70 = 74.9

Plan B

0.52 x 150 + 0.15 x 70 = 88.5

Plan C  $80

req 2)

from 0 to 190 minutes Plan A

from 191 and beyond Plan C

req 3)

the proportion should be 1/6 daycalls and 5/6 evenings

Explanation:

150 day calls

70 minutes evening calls

Plan A

0.42 x 150 + 0.17 x 70 = 74.9

Plan B

0.52 x 150 + 0.15 x 70 = 88.5

Plan C  $80

2) A will be preferable to B as it has the lower cost

now at some point C will be better as the cost is a flat rate

80 dollars / 0.42 per minute = 190.47

3) 0.42X + 0.17Y = 0.52X + 0.15Y

a minute of daycall is 10 cent higher in plan B

while a minute of evening call is 2 cent lower

thus, to balance there was to be 5 times more evening call than day times:

1:5 1 + 5 = 6

the proportion should be 1/6 daycalls and 5/6 evenings

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3 years ago
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The manufacturing operations of a company had the following balances for the year: Beginning Balance Ending Balance Raw material
Mekhanik [1.2K]

Answer:

The Adjusted Cost of Goods Sold for the year is $926,000

Explanation:

The formula to compute COGS is:

Ending inventory = Opening inventory + Work in progress - Unadjusted COGS (Cost of Goods Sold)

$ 23,000 = $28,000 + 918,000 - COGS

COGS = $946,000 - $23,000

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The formula to compute the Adjusted Cost of Goods Sold is:

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3 years ago
Under the allowance method of accounting for uncollectible accounts, a. the cash realizable value of accounts receivable is grea
pentagon [3]

Answer:

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