Answer:
C. A typical industrial company's balance sheet lists the firm's assets that will be converted to cash first, and then goes on down to list the firm's longest lived assets last.
Complete Question:
Given the following for the QRS Company:
Year Pre-Tax Net Tax Rate
Income (Loss)
2015 $10,000 20%
2016 8,000 20%
2017 (20,000) 20%
2018 12,000 20%
Assume QRS elects the carryback provision in 2017 and that future income is "more likely than not." 12/31/18 Income Tax Payable is:
Select One:
a. $2,400
b. $2,000
c. $11,600
d. $9,600
e. $400
Answer:
QRS
12/31/18 Income Tax Payable is:
b. $2,000
Explanation:
a) Data:
QRS Company:
Year Pre-Tax Net Tax Rate
Income (Loss)
2015 $10,000 20%
2016 8,000 20%
2017 (20,000) 20%
2018 12,000 20%
b) QRS can recover the loss from the 2015 and 2016 net income in the sum of $18,000 ($10,000 + $8,000) and then carry forward $2,000 against 2018 net income. Therefore, the taxable income for 2018 will be $10,000 ($12,000 - $2,000). The income tax payable is $2,000 ($10,000 * 20%).
Answer:
gain will treat as capital gain at long term tax rate
Explanation:
given data
bought shares = 1,000
stock for = $60.59 per share
sold = $82.35 per share
solution
as gain from sale of stocks is held for an investment purpose and it is treated as capital gain
when stock is here held for more than year
so gain is taxed as long term capital gain
and when gain is less than year than gain taxed short term capital gain
but here we have given stock for more than year
so here gain will treat as capital gain at long term tax rate
Answer:
C) $3.00
Explanation:
since Fred has been able to maximize his utility by consuming both pizza and beer, the marginal utility per dollar of pizza and beer must be equal.
The price of a bottle of beer is $1.50 and Fred obtains 4 utils from consuming it. If the marginal utility of pizza is 8 units, it is equivalent to 2 beers. So the price of pizza must equal $1.50 x 2 = $3
Because it demonstrates that you are in contact with people of higher-economical stature.
