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Dimas [21]
3 years ago
5

During the current year, Corporation G received $30,000 in dividends from a 60%-owned taxable domestic corporation. G received n

o other dividends. G's charitable contributions for the year totaled $15,000. G's taxable income for the year was $70,000 after the dividends-received deduction but before the deduction for charitable contributions. What is the amount of Corporation G's charitable contribution deduction for the year
Business
1 answer:
Leni [432]3 years ago
7 0

Answer: 8,950 hope this helps can you plz tell me if it wong so i  can se what i did wong

Explanation:

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Obama Company has identified that Bill Clinton’s receivable account of $100 is uncollectible. What is the journal entry needed t
DerKrebs [107]

Answer:

Allowance for Doubtful Accounts 100 Accounts Receivable 100

Explanation:

The allowance method first estimates an allowance for doubtful debts.When the company receives the actual figure of the amount that have gone wrong, it writes off the  trade receivable and utilizes the allowance provided for

<u>When allowance is estimated </u>

Bad Debts (debit)

Allowance for doubtful debts (credit)

<u>When the  actual figure of the amount that have gone wrong is obtained</u>

Allowance for doubtful debts (debit)

Account Receivable (credit)

4 0
3 years ago
Although appealing to more refined tastes, art as a collectible has not always performed so profitably. During 2015, an auction
VLD [36.1K]

Answer: -13.35%

Explanation:

Based on the information given in the question, the annual rate of return on this painting will be calculated thus:

Sales price of painting = $1,080,000

Cost price of painting = $1,660,000

The sales Price formula is given as

= Cost price × (1 +r)³

1080000 = 1660000 × (1+r)³

1,080,000/1,660,000 = (1+r)³

0.65 = (1 + r)³

Annual rate of return r will now be:

= 0.6506^⅓ - 1

= -13.35%

5 0
3 years ago
Arlington Clothing, Inc., shows the following information for its two divisions for year 1: Lake Region Coastal Region Sales rev
Digiron [165]

Answer:

                                          Lake Region   Coastal region

Operating income ($)                 678,800.   2,009,400.

Explanation:

                                                Lake Region   Coastal region

                                                       $'000        $'000

Sales revenue                           4,200             13,110

Cost of sales                             <u>(2,711)             (6.555)</u>

Gross profit                               1,488.7           6,555

Allocated overhead                   (252)              (786.6)

Other general overhead           <u> (557.9)</u>          <u>( 3,759)</u>

Operating income                      <u>678.8             2,009.4</u>

<u> </u>                                        Lake Region   Coastal region

Operating income                 678,800.   2,009,400.

 

8 0
3 years ago
Equilibrium price is $10 in a perfectly competitive market.For a perfectly competitive firm,MR = MC at 1,200 units of output.At
White raven [17]

Answer:

A) shut down; losses; $15,600

Explanation:

A perfect competition is characterised by many buyers and sellers of homogenous goods and services. Market prices are set by the forces of demand and supply. There are no barriers to entry or exit of firms into the industry. Firms earn zero economic profit in the long run.

If in the short run, price is less than average variable cost, the firm should shut down. In this question, price ($10) is less than average variable cost ($18). The firm should shut down in the short run.

Profit or loss = Total revenue - Total cost

($10-$23) x 1200 = -$15,600

The firm is earning a loss because average total cost in greater than price.

I hope my answer helps you

8 0
3 years ago
Earning a profit may not be a companies_____ responsibility?
seropon [69]
Earning a profit may not be a companies only responsibility
7 0
3 years ago
Read 2 more answers
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