Answer:
The refund claimed should be shown as a benefit due to loss carryback in 2018.
Explanation:
Since Tanner, Inc. incurred a financial and taxable loss for 2018. and decided to use the carryback provisions as it had been profitable up to this year, the amounts related to the carryback should be reported in the 2018 financial statements as a benefit due.
Tax loss carryback is when a corporation <u>retrospectively adjusts its tax returns for prior periods</u> if it incurs a net operating loss (NOL) in current period.
The loss carryback <u>generates a tax refund</u> for the business because it reduces previous year tax liability. After the carried back loss is applied, it will be <u>as though the business overpaid taxes the previous year; which will now be shown as a benefit in the current year</u>
Answer:
$ 10.38 billion
Explanation:
Using six-tenths rule
Estimated cost / the known cost = (size of the estimate / size of the known)^0.6
Estimate = $ 12 billion ( 110000/140000)^ 0.6
Estimate = $ 10.38 billion
Answer:
civil society organization
Explanation:
A civil society organisation are set up to run differently from government or businesses. Their main aim is to challenge inequities and assert their political rights to resources and recognition within their state.
They are sometimes referred to the 3rd sector after the commercial and government sectors.
They are made up of non governmental organisations, faith based organisations, charities, labour unions, and foundations
Answer:
$ 67,196
$132482
$88,727
$131,761
Explanation:
The formula for calculating future value:
FV = P (1 + r/m)^mn
FV = Future value
P = Present value
R = interest rate
N = number of years
m =number of compounding
$50,000 x ( 1 + 0.06/2)^10 = $67,196
$60,000 x ( 1 + 0.08/4)^40 = $132,482
$40,000 x (1 + 0.1/12)^96 = $88,727
$80,000 x ( 1 + 0.05 /12) ^120 = $131,761
