Gray Corp. had taxable income of $100,000 before capital gains for Year 6. Here is a history of the corporate capital gain transactions: Year 1 $ 10,000 Year 4 $ 8,000 Year 2 $ 3,000 Year 5 $(40,000) Year 3 $ 0 Year 6 $ 20,000 What is Gray Corp.'s Year 6 taxable income including capital gains and what M-1 adjustment, if any, will Gray Corp. report on its corporate income tax return

Cash flows during the first year of operations for the harman-kardon consulting company were as follows: cash collected from customers, $385,000; cash paid for rent, $49,000; cash paid to employees for services rendered during the year, $129,000; cash paid for utilities, $59,000. in addition, you determine that customers owed the company $69,000 at the end of the year and no bad debts were anticipated. also, the company owed the gas and electric company $2,900 at year-end, and the rent payment was for a two-year period.

When the federal reserve buys bonds from or sells bonds to member banks, it is called monetary policy reserve ratio interest rate adjustment open market operations

Sam and diane are completing their federal income taxes for the year and have identified the amounts listed here. how much can they rightfully deduct? • agi: $80,000 • medical and dental expenses: $9,000 • state income taxes: $3,500 • mortgage interest: $9,500 • charitable contributions: $1,000.