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omeli [17]
3 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]3 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

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You want to invest in a project in Canada. The project has an initial cost of C$828,000 and is expected to produce cash inflows
tamaranim1 [39]

Answer:

C$24,650

Explanation:

initial cost C$828,000

net cash flows for years 1, 2 and 3 C$355,000

discount rate 12%

the net present value in C$ = C$355,000/1.12 + C$355,000/1.12² + C$355,000/1.12³ - C$828,000 = C$316,964 + C$283,004 + C$252,682 -  C$828,000 = C$24,650

Since we are asked to determine the NPV in Canadian dollars, all we need to do is carry out the same calculations as if they were any other currency. We do not need to make any adjustments due to the exchange rate between US dollars and Canadian dollars.

8 0
3 years ago
Since the FICA tax is split equally between employers and employees, we can conclude that the incidence of this tax is also equa
shepuryov [24]

Answer:

Since the FICA tax is split equally between employers and employees, we can conclude that the incidence of this tax is also equally shared.

a. True

Explanation:

The incidence of the FICA tax refers to the extent to which an individual employee or the employing organization suffers from the imposition of the FICA tax.  In the final analysis, the incidence may not be borne by the organization but consumers of its goods and services, depending on the elasticity of demand.  Employers and employees usually split the FICA tax equally.  The FICA (Federal Insurance Contribution Act) refers to the federally mandated tax for Social Security and Medicare.

4 0
3 years ago
If a cost is a common cost of the segments on a segmented income statement, the cost should:_________.
worty [1.4K]

Answer:

the correct answer is

If a cost is a common cost of the segments on a segmented income statement, the costshould:A) be allocated to the segments on the basis of segment sales.

Explanation:

hope this helps u!!!

8 0
3 years ago
Which one of the following is a capital structure decision?
nirvana33 [79]

Answer:

B

Explanation:

Capital Structure decision is determining the optimal way of raising capital either through Equity or Debt.

8 0
3 years ago
In considering NBAC’s analytic approach, an otherwise competent person who is acutely ill might be considered at especially high
xxMikexx [17]

Answer:

c. Situational cognitive vulnerability.

Explanation:

Situational cognitive vulnerability -

It is the cognitive vulnerability in the field of cognitive psychology , it is the belief of cognitive bias .

It is the situation that does not allow to exercise the capabilities effectively .

hence , from the question ,

The correct term according to the statement of the question is  - c. Situational cognitive vulnerability.

5 0
3 years ago
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