Answer:
Option (e) is correct.
Explanation:
Taxable Income:
= Net income per book - municipal bond interest + deduction for business meals + deduction for a net capital loss + deduction for federal income taxes
= $100,000 - $4,000 + 50% of $5,000 + $5,000 + $22,000
= $125,500
Eliot Corp.'s current earnings and profits (Current E&P) for 2014:
= Taxable Income + municipal bond interest - deduction for federal income taxes - deduction for a net capital loss
= $125,500 + $4,000 - $22,000 - $5,000
= $102,500
Answer:
An industry consists of six firms with annual sales of $300, $500, $400, $700, $600, and $600, respectively. a. What is the industry's four firm concentration ratio? b. What is the industry's Herfindahl-Hirschman index? c. Is this industry highly concentrated? Explain.
Explanation:
Answer:C. $477,000
Explanation:
Asset are initially recognized at price and other attributable cost. The cost includes tax paid on the assets e.g Vat, legal cost for attorney, delivery, installation, site preparation, professional fees e.g Architect. All income earned from testing the asset or incidental to the asset installation are deducted to arrive at a final cost value.
In the above scenario the price of the land $400,000 is added to demolition cost $75,000, plus the legal fees of $12,000 are all added to $487,000 and the proceed of $10,000 from sales of demolition scrap will be deducted to have a final cost of $477,000.
Answer:
If a person sold euro futures on <u>3/01</u> then he/she will post a profit on <u>3/02</u> :
Explanation:
Date 3/01 3/02 3/03 3/04
Euro Spot Price $1.1585 $1.1589 $1.1584 $1.1593
July euro Futures Contract Price <u>$1.1850</u> <u>$1.1812</u> $1.1823 $1.1820
On March 1, the price of the euro futures contract was $1.1850 per euro, which means that a €1,000 contract is worth $1,185.50. On March 2, the euro futures contract was worth less, only $1.1812 per euro, that means that a €1,000 contract is worth $1,181.20. So you could have earned $1,185.50 - $1,181.20 = $4.30 per contract. It doesn't seem much, but it represents a 0.36% gain in one day.
Answer:
The accrued interest is $2,520
Explanation:
The computation of accrued interest is shown below:
= (Notes payable amount) × (interest rate) × (number of months ÷ total number of months in a year)
= ($42,000) × (8%) × (9 months ÷ 12 months)
= $2,520
The 9 months is computed from April 1, 2016, to December 31, 2016
. Moreover, all the item values are to be considered in the computation part.
