subject
Business, 09.09.2020 20:01 maya4790

, a calendar year accrual basis taxpayer (C Corporation) has financial accounting net income (book income) for the current year of $600,000. Additional information for the current year follows: Interest income on state bond $25,000; Interest expense on equipment loan $20,000; business entertainment expense $30,000; Gain on sale of a capital asset $10,000 and a loss on sale of a capital asset $6,000; MACRS tax depreciation $55,000 and depreciation expense for book purposes is $40,000; environmental waste penalty paid $10,000 and federal income tax expense $80,000. What is Ryan's taxable income for the current year?

ansver
Answers: 2

Another question on Business

question
Business, 22.06.2019 13:30
Over the past year, three of the star salesmen at family resorts international's corporate office have been lured away to competitors. on top of that, karina, the general manager of the sales department, has noticed that most employees come in, do their jobs, and leave. family resorts offers a good salary, benefits, and tuition reimbursement, as well as a number of development and training programs. most employees seem contented enough, but karina would like to do something to increase the level of engagement among her staff. what do you think karina should do?
Answers: 1
question
Business, 22.06.2019 19:10
After the price floor is instituted, the chairman of productions office buys up any barrels of gosum berries that the producers are not able to sell. with the price floor, the producers sell 300 barrels per month to consumers, but the producers, at this high price floor, produce 700 barrels per month. how much producer surplus is created with the price floor? show your calculations.
Answers: 2
question
Business, 22.06.2019 21:20
Suppose life expectancy in years (l) is a function of two inputs, health expenditures (h) and nutrition expenditures (n) in hundreds of dollars per year. the production function is upper l equals ch superscript 0.40 baseline upper n superscript 0.60l=ch0.40n0.60. beginning with c = 1, a health input of $400400 per year (hequals=44) and a nutrition input of $400400 per year (nequals=44), show that the marginal product of health expenditures and the marginal product of nutrition expenditures are both decreasing. the marginal product of health expenditures when h goes from 44 to 55 is nothing, and the marginal product of health when h goes from 66 to 77 is nothing. (round your answers to three decimal places.)
Answers: 2
question
Business, 23.06.2019 03:00
The following information is needed to reconcile the cash balance for gourmet catering services.* a deposit of $5,600 is in transit.* outstanding checks total $1,000.* the book balance is $6,400 at february 28, 2019.* the bookkeeper recorded a $1,800 check as $17,200 in payment of the current month's rent.* the bank balance at february 28, 2019 was $17,410.* a deposit of $400 was credited by the bank for $4,000.* a customer's check for $3,300 was returned for nonsufficient funds.* the bank service charge is $90.what was the adjusted book balance?
Answers: 1
You know the right answer?
, a calendar year accrual basis taxpayer (C Corporation) has financial accounting net income (book i...
Questions
question
Mathematics, 25.05.2021 22:00
question
Mathematics, 25.05.2021 22:00
question
Physics, 25.05.2021 22:00
question
Mathematics, 25.05.2021 22:00
question
Mathematics, 25.05.2021 22:00
question
World Languages, 25.05.2021 22:00
question
Mathematics, 25.05.2021 22:00
question
Spanish, 25.05.2021 22:00
Questions on the website: 13722360