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Gre4nikov [31]
2 years ago
13

Zeta, Inc., a calendar year taxpayer, suffers a casualty loss of $45,000. Zeta recovered insurance of $30,000. How much of the c

asualty loss will be a tax deduction to Zeta, Inc.
Business
1 answer:
mezya [45]2 years ago
3 0

Answer:

$15,000

Explanation:

Calculation to determine How much of the casualty loss will be a tax deduction to Zeta, Inc.

Using this formula

Casualty loss tax deduction=Casualty loss-Insurance recovered

Let plug in the formula

Casualty loss tax deduction=$45,000-$30,000

Casualty loss tax deduction=$15,000

Therefore the amount of the casualty loss that will be a tax deduction to Zeta, Inc. is $15,000

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On January 1, Whispering Winds Corp. had 62,600 shares of no-par common stock issued and outstanding. The stock has a stated val
Elenna [48]

Answer:

Explanation:

The journal entries are shown below:

1. Cash Dividend A/c Dr $122,838                       (62,600 + 16,650) × $1.55

        To Dividend payable A/c  $122,838

(Being the dividend is declared)

2. Dividend payable A/c $122,838

       To Cash A/c $122,838

(Being the dividend is paid)

3.  Cash Dividend A/c  Dr $142,97    (62,600 + 16,650 + 7,400) × $1.65

              To Dividend payable A/c $142,973

(Bring dividend is recorded)

6 0
3 years ago
Ash, Inc., has declared a dividend of $6.30 per share. Suppose capital gains are not taxed, but dividends are taxed at 20 percen
alexira [117]

Answer:

$89.41

Explanation:

Data provided in the question:

Dividend declared = $6.30 per share

Tax rate = 20%

Selling price of the stock = $94.45

Now,

Aftertax dividend = Dividend × ( 1 - Tax rate )

= $6.30 × ( 1 - 0.20 )

= $5.04

Thus,

Ex-dividend price = Selling price - Aftertax dividend

or

Ex-dividend price = $94.45 - $5.04

or

Ex-dividend price = $89.41

8 0
3 years ago
Findell Corporation is considering two projects, A and B, and it has gathered the following estimates for the projects Project A
Vilka [71]

Answer:

a. 1.096

Explanation:

The present value index is the same as the profitablility index(PI), which is computed by dividing the present value of future cash inflows by the initial investment(the present value of cash outflows). A profitability of above 1 means that the project is viable as the numerator(PV of cash inflows) exceeds the denominator( initial cash outlay).

Project A PI index= Present value of cash inflows/Present value of cash outflows

Project A PI index= $84,360/$77,000

Project A PI index= 1.096  

8 0
3 years ago
PLEASE ive been asking for days i need help with this i don't understand it
timama [110]

Answer:

$47

Explanation:

Because she can afford the 144 bushel plan, in the long run it is cheaper per bushel so you would choose to market that one to her because it is cheaper in the long run for as well as she grows more bushels.

8 0
3 years ago
Suppose that when the price of a good is $15, the quantity demanded is 40 units, and when the price falls to $6, the quantity in
Paraphin [41]

Answer:

(A) -5/6

Explanation:

Price elasticity of demand = % change in quantity demanded ÷ % change in price

% change in quantity demanded = (60-40)/40 × 100 = 20/40 × 100 = 50%

% change in price = ($6-$15)/$15 × 100 = -$9/$15 × 100 = -60%

Price elasticity of demand = 50% ÷ -60% = -5/6

8 0
3 years ago
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