Answer:
D) $7,200 current-year deduction; $300 carryover
Explanation:
Remsco's total modified taxable income for the year = $60,000 (net income) + $12,000 (dividends received deductions) = $72,000
Corporations can deduct charitable contributions up to 10% of their total modified taxable income for the year:
$72,000 x 10% = $7,200
since the contributions made during this year exceeded the limit by $300, that will be the amount of the carryover for future years.
* Modified taxable income is the taxable income determined without regard to any base erosion tax benefit, i.e. total taxable income including any deductions made like DRD
Answer:
By comparing the Z-values both are below the average salary in their firms but Devon is even lower as as 1.60 below the mean
Carlon has a better comparative salary as is 1.25 points below the mean
Explanation:
we have to normalize each distribution to know the Z-values for Carlos and Devon:
<u>Carlos:</u>
(42,000 - 52,000)/8,000 =-1.25
<u>Devon:</u>
(40,000-48,000)/5,000 = -1.60
D. suitability for the product and ability to make the purchase
False most countries have embassies
<span>B. A loan which is repaid with interest in monthly payments
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