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3 years ago

Taxable income of a corporation

Business

1 answer:

kobusy [5.1K]3 years ago

6 0

Answer:

Option b. Differs from accounting income due to differences in interperiod allocation and

permanent differences between the two methods of income determination.

Explanation:

Corporation examples are joint stock companies, joint accounts, associations, insurance companies e.t.c.

A Corporation taxable income is simply defined as a part of its profits generated by corporations that is collected by the Federal and State government as an income tax. It is known as a direct tax. It is placed on the net income or profit of a corporate organization. The tax rate for corporation uses the slab rate system or method of taxation that is based on the type of corporate entity and the different revenues gotten by them individually.

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Which of the following is the best way to get along with others in a diverse workplace

aleksandrvk [35]

I would think d- show empathy, courtesy, and respect

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3 years ago

Read 2 more answers

Can we talk about the political and economic state of the world right now

JulsSmile [24]

In the political state of the world as at now, a lot of countries are using representative democracy where there seems to economic power tussle between China and America.

<h3>What is the current state of the world economy?</h3>

The economy of different nations are said to be growing wile some are expressing some financial crises.

Note that studies has shown that Global growth will rise to about 3.4 percent for 2021.

Therefore, In the political state of the world as at now, a lot of countries are using representative democracy where there seems to economic power tussle between China and America.

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2 years ago

Listed below are several transactions that took place during the first two years of operations for the law firm of Pete, Pete, a

umka2103 [35]

Answer:

Cash Flow

year 1: cash generated in operating activities: 35,000

year 2: cash used in operating activities (28,000)

Receivables:

year 1: 23,000

year 2: 40,000

Net Income

year 1: 32,000

year 2: 59,000

Explanation:

Cash flow:

operating activities: year 1

collected from client 170,000

salaries paid to employees (100,000)

utilities (35,000)

insurance policy (63,000)

cash used in operating activities (28,000)

operating activities: year 2

collected from client 200,000

salaries paid to employees (110,000)

utilities (55,000)

cash generated in operating activities: 35,000

receivable:

billed - collected

year 1 receivables 193,000 - 170,000 = 23,000

year 2 receivables 240,000 - 200,000 = 40,000

Income Statement year 1

fees revenues 193,000

salaries (100,000)

utilities (40,000) (incurred cost)

insurance (21,000) (63,000 for three years, the value of 1 year is 21,000)

net income 32,000

Income Statement year 2

fees revenues 240,000

salaries (110,000)

utilities (50,000) (incurred cost)

insurance (21,000) (63,000 for three years, the value of 1 year is 21,000)

net income 59,000

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3 years ago

Michael, a systems analyst, is preparing a closed wiki site for Northstate Bank. He has written permission from eight other comp

AysviL [449]

Answer:

The correct answer is Formal Benchmarking.

Explanation:

The English term "benchmark" comes from the words "bench" (bench, table) and "mark" (brand, sign). In the original meaning of English, the word compound could however be translated as a measure of quality. In other words, benchmarking is a way to determine how well a company performs, compared to others.

In order to be more competitive at present, it is necessary to use benchmarking since it provides strategies that allow identifying the best keys to the company's success, so that by implementing them the organization can be a leading and competitive company in a changing market and global in which business organizations currently have to see each other.

The majority of authors relate benchmarking with competitiveness and business improvement, being "the company" its natural scope. However, the potential benefits of its use make it considered in other areas, such as "public organizations", and at other levels, "sectoral" and "environment" (regional, national and international). This complicates the definition of the concept, since it is a tool that has multiple application possibilities, pursues different objectives in each case, and uses its own methodology in each area.

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3 years ago

Allstar Exposure designs and sells advertising services to small, relatively unknown companies. Last month, Allstar had sales co

Aloiza [94]

Answer: The answer is Net income $180,000

Explanation:

All star Exposure

Monthly income Statement

$ $

Sales. 475,000

Less: Expenses

Sales commission 42,000

Technology cost 71,000

Research & Development cost 140,000

Selling Expenses 12,000

Administrative Expenses 30,000

---------------------

(295,000)

---------------------

Net income. 180,000

-----------------------

The All star income statement has no line item for cost of good sold because cost of good sold is a direct cost incurred by All star Exposure on the goods sold. it does not appear as part of the expenses in the income statement.

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3 years ago