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Fynjy0 [20]
3 years ago
12

Tell, Inc., leased a building from Lott Corp. Tell paid monthly rent of $500 and was also responsible for paying the building’s

real estate taxes. On January 1, Vorn Co. and Tell entered into an agreement by which Vorn was entitled to occupy the building for the remainder of the term of Tell’s lease in exchange for monthly payments of $600 to Tell. For the year, neither Tell nor Vorn paid the building’s real estate taxes, and the taxes are delinquent. Learning this, Lott demanded that either Tell or Vorn pay the delinquent taxes. Both refused, and Lott has commenced an action against them. Lott will most likely prevail against
Business
1 answer:
Ugo [173]3 years ago
4 0

Answer:

Tell and Vorn

Explanation:

Based on the information given Lott will most likely prevail against TELL and VORN reason been that we were told that both TELL and VORN entered into an agreement on January 1 which means that both of them will be responsible for the DELINQUENT TAXES which has not been paid because Vorn occupy the building that was leased out to Tell from Lott Corp in exchange for the amount of $600 which will be monthly paid by Vorn to Tell, which means that in a situation were the taxes is said to be DELINQUENT TAXES in which neither of them paid the building's real estate taxes, Lott will most likely prevail against both TELL and VORN.

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An NOL has the potential to lower income and reduce taxes for the taxpayer
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Answer:

The correct response is "for the carryover or carryforward year".

Explanation:

  • NOL usually happens that whenever a taxpayer's corporate taxable income exceeds his corporation yearly revenue. The whole NOL could be utilized to back split from several other taxable incomes, which have become perhaps throughout the future, in other words, managed to carry forward.
  • Throughout the current environment, and there'll be revenue, NOL would be adapted and the tax burden would be whittled down either by NOL proportion.
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2 years ago
It was discovered that lead from paint leaked into the ground and caused many health problems, especially among children. Today,
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<span>The government has REGULATIONS to protect people from being harmed by lead.


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6 0
3 years ago
True Tomato Inc. makes organic ketchup. To promote its products, this firm decided to make bottlesin the shape of tomatoes. To a
Fittoniya [83]

Answer:

3) physical-asset specificity

Explanation:

In a business to business relationship, physical asset specificity refers to an asset, or product or service designed to fit a particular or specialized customer's need.

In this case, True Tomato needs a very specific type of bottle that probably no other ketchup manufacturer may use or want to use. So their bottle supplier specifically manufactures the tomato shaped bottle to meet True Tomato's specific requirements.

5 0
2 years ago
Bonita Corporation had net sales of $2,409,200 and interest revenue of $38,100 during 2020. Expenses for 2020 were cost of goods
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Answer:

net income: $ 451,010

EPS:             $           6.32 per share

Explanation:

net sales                   2,409,200

cost of good sold     (1,464,600)

gross profit:                  944,600

operating expenses:

selling expenses         (284,000)

operating income         660,600

non operating:

interest revenue              38,100

interest expense           (54,400)

non operating expense (16,300)

earning before taxes:     644,300

tax expense:  30%          193,260

net income                      451,010

shares outstanding          71,390

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3 years ago
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Pure competition simply means a market that's has a wide range of competitors who are selling the same products.

Your information is incomplete. Therefore, an overview of pure competition will be given. In pure competition, all the companies sell identical products.

In pure competition, the market share does not influence the price. Also, companies can enter or exit the industry whenever they like as there's no barrier. The buyers have perfect information as well.

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