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katovenus [111]
2 years ago
14

In its first year, Barsky Corporation made charitable contributions totaling $30,000. The corporation's taxable income before an

y charitable contribution deduction was $250,000. In its second year, Barsky made charitable contributions of $15,000 and earned taxable income before the contribution deduction of $300,000. Assume neither year is 2020. Required: Compute Barsky's allowable charitable contribution deduction and its final taxable income for its first year. Compute Barsky's allowable charitable contribution deduction and its final taxable income for its second year
Business
1 answer:
Wewaii [24]2 years ago
5 0

Answer:

Year 1:

total income before charitable contributions = $250,000

limit on charitable contributions = $250,000 x 10% = $25,000

taxable income after charitable contributions = $250,000 - $25,000 = $225,000

charitable contributions carried forward = $30,000 - $25,000 = $5,000

Year 2:

total income before charitable contributions = $300,000

limit on charitable contributions = $300,000 x 10% = $30,000

taxable income after charitable contributions = $300,000 - $15,000 - $5,000 = $280,000

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John's Locomotive Works manufactures a model locomotive. It comes in two versions: a standard (X1) and a deluxe (X2). The locomo
Law Incorporation [45]

Answer:

Explanation:

X1                    X2              Z

0                      0                0

16                     0                 4,000

0                      10                3,500

8                       6                 4,100

check the picture attached for more explanation

3 0
3 years ago
Keener Incorporated had the following transactions occur involving current assets and current liabilities during February 2017.
Dmitry_Shevchenko [17]

Answer:

The answers are in the attachment below.

6 0
3 years ago
Coronado Industries is constructing a building. Construction began on January 1 and was completed on December 31. Expenditures w
lubasha [3.4K]

Answer:

Coronado Industries

The weighted-average accumulated expenditures are:

= $8,388,333.

Explanation:

a) Data and Calculations:

Amount borrowed on June 1 = $3,170,000

Interest rate = 13%

Outstanding 11% 3-year note payable = $6,350,000

Outstanding 12% 4-year note payable = $12,350,000

Date               Expenditure      Weight     Weighted-Average

                                                                       Expenditure

March 1          $6,370,000         10/12                $5,308,333

June 1            $5,280,000          7/12                  3,080,000

December 31 $8,650,000         0/12                    0

Weighted-average accumulated expenditure $8,388,333

7 0
2 years ago
Electronic audio and video devices are never used by terrorists for surveillance purposes. true or false
hammer [34]

The answer would be false. Since they are terrorists, they would likely scheme and plot in ways where they won’t get caught so it is likely that they will use devices in monitoring their surroundings in a way of helping them carry out their plans, devices they use may be electronic audio and video devices which could be seen in the statement above.

5 0
3 years ago
The weekly total cost of baking pies at Tasty Tortes is given by TC = 0.01 Q 1.5. Tasty’s marginal cost of producing 10,000 pies
Hoochie [10]

Answer: $1.50

Explanation:

TC = 0.01Q⁰.⁵

You get marginal cost when you differentiate the total cost.

MC = dTC / dQ

= 1.5 * 0.01 * Q¹.⁵ ⁻ ¹

= 0.015 * Q⁰.⁵

When Q is 10,000, the marginal cost is:

= 0.015 * 10,000⁰.⁵

= $1.50

3 0
2 years ago
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