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prohojiy [21]
3 years ago
14

Wilcox Corporation reported the following results for its first three years of operation: 2020 income (before income taxes): $30

0,000 2021 loss (before income taxes): $(2,700,000) 2022 income (before income taxes): $3,000,000 There were no permanent or temporary differences during these three years. Assume a corporate tax rate of 20% for 2020 and 2021, and 30% for 2022. Assuming that Wilcox elects to use the carryforward provision and not the carryback provision, what income (loss) is reported in 2021
Business
1 answer:
inysia [295]3 years ago
8 0

Answer:

$1,890,000

Explanation:

Calculation to determine what income (loss) is reported in 2021

2021 Reported Income loss=[$2,700,000-($2,700,000 × 30%)]

2021 Reported Income loss=($2,700,000-$810,000)

2021 Reported Income loss=$1,890,000

Therefore the income (loss) that is reported in 2021 will be $1,890,000

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The assets (what a business owns), liabilities (what a business owes), and capital (how much a
Sati [7]

Answer:

balance sheet

Explanation:

Businesses are required to prepare a balance sheet at the end of every financial year. The balance reports the net worth of a company. It lists all the assets and their values on one side and liabilities and equity on the side. The balance sheet follows the accounting equation to indicate the total assets on one side. It shows how the assets have been financed through liabilities and equity.

8 0
3 years ago
You get a sales report every month to show the products sold from each state. You notice the sales from California are down from
Lostsunrise [7]

Answer: This is an example of a DRILL DOWN report

Explanation:

Drill down means to seek out detailed additional information on a specific subject. It involves clicking on a subject, or link or object to reveal more detail about a particular information.

To drill down through a series of information means you want to get a specific information, it involves accessing information but starting first with the general options before proceeding through the database to get successive ideas on the subject matter. Most times people drill down on an information when they have only the summary, then they will "dig Futher" to get suitable information according to their logic.

6 0
3 years ago
Nike allows customers to design their own sneakers, which improves the value customers see in the brand. this is an example of?
Stels [109]

This is an example of <u>value co-creation.</u>

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What is value co-creation?

  • Value co-creation is the joint creation of value by the company and the customers, allowing the customers to co-construct the service experience to suit their context.
  • Subsequently, given that the co-creation of value not only affects the bilateral relationship between the consumer and the company, the definition has been transformed to incorporate the multiple agents involved in the process.
  • Value co-creation describes the way actors behave, interact, interpret, experience, use, and evaluate propositions based on the social construction of which they are a part.
  • The first studies on co-creation assimilated this concept to that of co-production, defined as the participation of the consumer in some of the phases of the development of new products, mainly applied in leading brands.

To know more about value co-creation, refer:

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8 0
2 years ago
Beachware, Inc., wants to issue stock of $4 million in a single offering. The corporation must provide disclosure documents that
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The corporation must provide disclosure documents that generally are the same as those used in registered offerings to any unaccredited investors.

<h3>What is unaccredited investors?</h3>

Any investor who does not meet the Securities and Exchange Commission's income or net worth requirements is considered a non-accredited investor (SEC).

Because of the limitations described above, many companies discover that raising funds from non-accredited investors often results in incremental professional fees equal to or greater than the amount raised from these investors.

The Securities and Exchange Commission's rules distinguish between "accredited investors" and "non-accredited investors." "Accredited investors" may purchase securities that have not been registered with regulatory authorities, whereas "non-accredited" investors have fewer investment options.

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5 0
1 year ago
What are the 2 types of recruiting and how do companies use job analysis in recruiting?
Vitek1552 [10]

The two types of recruiting are internal and external.

Internal recruiting refers to recruiting applications from those who already work for the company. They are internal people eligible for the job, so they want to promote within.  External recruiting refers to advertising for the position. By advertising for this position they are looking for employee referrals, special events to advertise the position, online application sources and other ways to advertise for it. They use job analysis in recruiting to figure out the best way they should advertise for the position and who is a potential qualified candidate to apply for it.

5 0
3 years ago
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