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Murrr4er [49]
2 years ago
10

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

Business
1 answer:
iren2701 [21]2 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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The Widget Co. purchased all of its fixed assets three years ago for $6 million. These assets can be sold today for $3 million.
oksano4ka [1.4K]

Answer:

$4,800,000

Explanation:

Widget corporation purchased all of its fixed assets three years ago for $6 million

These assets can be sold today for $3 million

The company receives $1.8 million in cash after liquidation of current assets

Therefore the market value of the company's total assets today can be calculated as follows

Market value = $3,000,000 + $1,800,000

= $4,800,000

Hnence the company's market value for today is $4,800,000

8 0
3 years ago
Fact Pattern: Jackson Industries employs a standard cost system in which direct materials inventory is carried at standard cost.
Yuri [45]

Answer:

Efficiency varaince 6,000 unfavorable.

 

Explanation:

(standard\:hours-actual\:hours) \times standard \: rate = DL \: efficiency \: variance

std  hours          27,500.00 (22.000 units x 1.25 units per hour)

actual hours          28,000.00

std rate                 $          12.00

difference                 -500.00

efficiency variance $  (6,000.00)

3 0
3 years ago
The role of the 12 Federal Reserve banks is to:
Shalnov [3]

Answer: D - Enforce federal rules on member banks

Explanation:

Just took the test

4 0
3 years ago
Read 2 more answers
Tony is a 45-year-old self-employed psychiatrist who has net earned income of $300,000 in 2020. What is the maximum amount he ca
Natali5045456 [20]

Answer:

Tony is a 45-year-old psychiatrist who has net earned income of $300,000 in 2020. What is the maximum amount he can contribute to his SEP for the year? 300,000x.25= 75,000 or $57,000

$57,000

Explanation:

6 0
2 years ago
Peterson Photoshop sold $1,300 in gift cards on a special promotion on October 15, 2021, and sold $1,950 in gift cards on anothe
Anastaziya [24]

Answer:

$1,300

Explanation:

Given that,

On November 15, 2021

sold gift cards = $1,950

Of the gift cards sold in November,

Redeemed in November = $195

Redeemed in December = $455

Therefore, the deferred revenue is as follows

= November sales - Redemptions

=  November sales - (Redeemed in November + Redeemed in December)

= $1,950 - ($195 + $455)

= $1,950 - $650

= $1,300

4 0
3 years ago
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