Answer:
The corporation's current earnings and profits for 20X3 would be $603,000
Explanation:
The computation of the current earnings and profits are shown below:
= Taxable income - federal income taxes - disallowed penalty + insurance proceeds
= $800,000 - $272,000 - $25,000 + $100,000
= $603,000
The federal income tax refund would not be considered in the computation part. Hence, it is ignored.
Answer:
Demand, to the right.
Explanation:
Because productivity has increased, and (or) the demand for final products has increased as well, workers are both more desired because they are more productive, and more needed because more final products need to be made.
This will shift the labor demand curve to the right because demand for labor will rise.
Answer:
Barry cannot contribute any amount to Roth IRA
Explanation:
For a single/ unmarried individual to be able to contribute to Roth IRA plan, his Adjustable Gross Income (AGI) should range between $117,000 and $132,000. Since Barry's annual income is $190,000, which is higher than the maximum AGI required for a single to be able to contribute to Roth IRA, he cannot contribute to Roth IRA.
