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3 years ago

An NOL has the potential to lower income and reduce taxes for the taxpayer

Business

1 answer:

iren2701 [21]3 years ago

3 0

Answer:

The correct response is "for the carryover or carryforward year".

Explanation:

NOL usually happens that whenever a taxpayer's corporate taxable income exceeds his corporation yearly revenue. The whole NOL could be utilized to back split from several other taxable incomes, which have become perhaps throughout the future, in other words, managed to carry forward.
Throughout the current environment, and there'll be revenue, NOL would be adapted and the tax burden would be whittled down either by NOL proportion.

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Treasury Stock Transactions SprayCo Inc. develops and produces spraying equipment for lawn maintenance and industrial uses. On M

Thepotemich [5.8K]

Answer: Please see explanation column for answers.

Explanation:

a)Journal to record the transactions of SprayCo Inc.

Date Account Debit Credit

march 9 Treasury stock (62,000 x $51) $3,162,000

Cash $3,162,000

June 9 Cash (48,000 x $60) $2,880.000

Treasury stock (48,000 x $51) $2,448,000

Paid in Capital from sale of treasury stock $432,000

($2,880.000- $2,448,000 )

Nov 13 Cash (7,500 x $54) $405.000

Treasury stock (7,500 x $51) $382,500

Paid in Capital from sale of treasury stock $ 22,500

($405,000- $382,500 )

b)balance in Paid-In Capital from Sale of Treasury Stock on December 31 of the current year =$432,000 form June 9 + $ 22,500 from November 13 =$454,500

6 0

3 years ago

Convert 39/5 to a mixed number written in lowest terms

tiny-mole [99]

5 can fit into 39 seven times. 5 x 7 = 35 and 39-35=4. So the mixed number is 7 4/5.

8 0

3 years ago

Help with the a bove questions

harina [27]

Answer:

that is my answer hopes it helps you

Explanation:

i say the Accounts playable and the bank

5 0

3 years ago

McConnell Corporation has bonds on the market with 12 years to maturity, a YTM of 10.0 percent, a par value of $1,000, and a cur

PolarNik [594]

Answer:

13.28%

Explanation:

The computation of the coupon rate is shown below

But before that determine the PMT

Given that

NPER = 12 × 2 = 24

RATE = 10% ÷ 2 = 5%

PV = $1,226.50

FV = $1,000;

The formula is shown below

= PMT(RATE;NPER;-PV;FV;TYPE)

After applying the above formula, the monthly payment is

= $66.41 × 2

= $132.82

Now the coupon rate is

= $132.82 ÷ $1,000

= 13.28%

3 0

3 years ago

"An individual owns a bicycle repair business as a sole proprietorship. He does not make a lot of money, but he does have $5,000

ICE Princess25 [194]

Answer:

Roth IRA

Explanation:

Based on the information provided in this scenario it can be said that the individual's best option would be to make a $5,000 contribution to a Roth IRA fund. This is a retirement fund that can be will provide will continue to grow exponentially throughout the years and the individual can withdraw that money when they turn 60 years old. At this point the money is completely tax free.

5 0

3 years ago