1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
omeli [17]
2 years ago
7

Elk, a C corporation, has $370,000 operating income and $290,000 operating expenses during the current year. In addition, Elk ha

s a $10,000 long-term capital gain and a $17,000 short-term capital loss. Elk's taxable income is:
Business
1 answer:
pychu [463]2 years ago
4 0

Answer:

$80,000

Explanation:

Calculation to determine what Elk's taxable income is:

Using this formula

Taxable income=Operating income-Operating expenses

Let plug in the formula

Taxable income=$370,000-$290,000

Taxable income=$80,000

Therefore Elk's taxable income is:$80,000

You might be interested in
Do you think the price elasticity of demand for Ford sport-utility vehicles (SUVs) will increase, decrease or remain the
olga nikolaevna [1]

a. When other car manufacturers begin to make SUVs, the price elasticity of demand for Ford's SUV will increase. This is because the options consumers have has also increased.

b. When import is banned, the price elasticity of demand for Ford's SUVs will decrease. This is because there are less substitutes for  Ford's SUVs. Consumers would now have limited choices.

c. As a result of the ad campaigns,  the price elasticity of demand for Ford's SUVs will decrease. This is because other cars would be considered to be les safe when compared with the Ford SUVs.

d. Overtime, the price elasticity for Ford Cars will increase as there would be more substitutes

Price elasticity of demand measures how quantity demanded responds to changes in the price of a good

<em>Types of price elasticity </em>

  1. Elastic demand : this means that quantity demanded is sensitive to changes in price. Coefficient of elasticity is greater than 1
  2. Inelastic demand : this means that quantity demanded does not respond much to change in price.  Coefficient of elasticity is less than 1

To learn more about demand elasticity, please check: brainly.com/question/13565779?referrer=searchResults

8 0
1 year ago
With iOS, its particularly important for an app to minimize the persistent storage placed in the app's home directory. This is b
dexar [7]

Answer:In iOS, typically, apps store their data in a folder named Documents , that is saved in a location next to where the app itself is installed (†). It is important to note that you do not need a jailbroken phone to access this folder.

Explanation:

6 0
2 years ago
Scenario: Home Monopolist) A monopolist faces a demand curve given by P = 60 2Q and has total costs given by TC = Q2. Its margin
enyata [817]

Answer:

2Q

Explanation:

Economy equilibrium is where MC = MR.

Marginal cost equals marginal return when the supply and demand is linear. Consumer surplus is the additional amount that a consumer is willing to pay for the goods and services. Here MC = 2Q and MR = 60 + 4Q. Here consumer is paying 2Q additional in the equation of marginal return.

6 0
3 years ago
Mary makes 10 pies and 20 cakes a day and her opportunity cost of producing a cake is 2 pies. Tim makes 20 pies and 10 cakes a d
monitta

Answer:

If Mary and Tim specialize in the good in which they have a comparative​ advantage, ______.

Mary would specialize in making cakes while Tim would specialize in making pies.

Explanation:

a) Data and Calculations:

Mary's opportunity cost of making a cake = 2 pies

She can make additional 5 (10/2) cakes instead of making pies

This will increase her cakes to 25 a day (20 + 5)

Tim's opportunity cost of making a cake = 4 pies

She can make additional 40 pies (10 * 4) instead of making cakes

This will increase her pies to 60 pies a day (20 + 40)

When they specialize there will be 25 cakes and 60 pies produced in a day instead of 30 cakes and 30 pies.

5 0
3 years ago
On September 11, 2016, Home Store sells a mower for $590 with a one-year warranty that covers parts. Warranty expense is estimat
Ad libitum [116K]

Answer:

Sep 11

Dr Cash 590.00

Cr Sales 590.00

Dec 31

Dr Warranty expense 59.00

Cr Estimated warranty liability 59.00

July 24

Dr Estimated warranty liability 41.00

Cr Repair parts inventory 41.00

Explanation:

Home Store Journal entry

Sep 11

Dr Cash 590.00

Cr Sales 590.00

Dec 31

Dr Warranty expense (590*10%) 59.00

Cr Estimated warranty liability 59.00

July 24

Dr Estimated warranty liability 41.00

Cr Repair parts inventory 41.00

4 0
3 years ago
Read 2 more answers
Other questions:
  • A __ agrees to help an immagrant become a citizen
    12·1 answer
  • Rick Co. had 36 million shares of $3 par common stock outstanding at January 1, 2018. In October 2018, Rick Co.'s Board of Direc
    11·1 answer
  • Bonita Company assigns overhead based on machine hours. The Milling Department logs 2350 machine hours and Cutting Department sh
    11·1 answer
  • Describe a real or made up but realistic example of earned income that you or someone you know has received. What type of work w
    15·1 answer
  • The following information is available for Mergenthaler Corporation for the year ended December 31, 2022:
    10·1 answer
  • Burger21 is a chain of fast-food restaurants that got its start in Tampa, Florida. In order to increase sales, the company has o
    13·1 answer
  • Match the definition with the correct type of unemployment. Not all items will be used.
    9·1 answer
  • The depreciation of equipment will require an adjustment that results in A. total assets increasing and total expenses increasin
    12·2 answers
  • Byron Corp is considering the purchase of a new piece of equipment. The cost savings from the equipment would result in an annua
    14·1 answer
  • Determining if you can convince local units to conform to international standards is part of the ________ dimension for developi
    5·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!