Answer:
$12,000
Explanation:
30%×$40,000= $12,000
Brass Co.'s 2017 taxable income of $60,000 exceeds the $40,000 net operating loss carry forward from 2016.
Therefore the total net operating loss carry forward can be utilized in 2017 in which $40,000 carryforward will be used to offset $40,000 of Brass' taxable income.
<span>This is a true statement. When Joseph is setting these plans, he is giving himself a roadmap on how he and his employees will best achieve these goals over the timeframe required. By planning, he can make sure that the business stays on track to meet whatever figures the company has set forth.</span>
Hmmm not sure exactly what you are asking the wording is strange but this seems to be showing Racism towards blacks.
Answer:
Estimating un-collectible accounts expense improves the matching of revenues and expenses.
Explanation:
When uncollectibles are recorded through allowance method then, bad debts expense is provided, which reduces net income. But at the time of writing off only the allowance and accounts receivables account is affected and not the net income.
When direct method is used then also the net income gets reduced, as bad debt expense and accounts receivables is affected.
And as provided in first para, when estimating and creating the allowance for bad debts, it affects net income, and it also represents the true and fair view of expenses and income.
Thus, statement c is correct.
Answer:
c. $24,850
Explanation:
A non-governmental, not-for-profit organization held the following investments: Investment Cost Fair value (beginning of the year) Fair value (end of the year) Stock A (100 shares) $50 per share $45 $51 Stock B (200 shares) $40 per share $41 $49
; Bonds Cost $9,000 Fair value (beginning of the year) Fair value (end of the year)$10,000 $9,950
The amount that should be the total value of investments reported in the year-end statement of financial position? will be the fair value of the investments at the end of the year becaue investments by financial reporting standards are carried at fair values unlike physical assets carried at costs
Stock A = 100 Shares x fair value end of year of $51 = 5,100
Stock B = 200 Shares x fair value end of year of $49 = 9,800
Bond @ Fair value end of year...........................................= 9,950
Total............................................................................................$24,850
