Tailor johnson, a u. s. maker of fine menswear, has a subsidiary in ethiopia. this year, the subsidiary reported and repatriated earnings before interest and taxes (ebit) of 250 million ethiopian birrs. the current exchange rate is 7.6288 birrs/dollar or upper s equals $ 0.1311 divided by birr. the ethiopian tax rate on this activity is 24 %. u. s. tax law requires tailor johnson to pay taxes on the ethiopian earnings at the same rate as on profits earned in the united states, which is currently 37 %. however, the united states gives a full tax credit for foreign taxes paid up to the amount of the u. s. tax liability. what is tailor johnson's u. s. tax liability on its ethiopian subsidiary?
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Business, 22.06.2019 19:40
Moody corporation uses a job-order costing system with a plantwide predetermined overhead rate based on machine-hours. at the beginning of the year, the company made the following estimates: machine-hours required to support estimated production 100,000 fixed manufacturing overhead cost $ 650,000 variable manufacturing overhead cost per machine-hour $ 3.00 required: 1. compute the plantwide predetermined overhead rate. 2. during the year, job 400 was started and completed. the following information was available with respect to this job: direct materials $ 450 direct labor cost $ 210 machine-hours used 40
Answers: 3
Business, 22.06.2019 19:50
Managers in a firm hired to improve the firm's profitability and ultimately the shareholders' value will add to the overall costs if they pursue their own self-interests. what does this best illustrate? a. diseconomies of scale b. principal-agent problem c. experience-curveeffects d. information asymmetries
Answers: 1
Business, 22.06.2019 19:50
Ichelle is attending college and has a part-time job. once she finishes college, michelle would like to relocate to a metropolitan area. she wants to build her savings so that she will have a "nest egg" to start her off. michelle works out her budget and decides she can afford to set aside $9090 per month for savings. her bank will pay her 4 %4% per year, compounded monthly, on her savings account. what will be michelle's balance in five years?
Answers: 3
Tailor johnson, a u. s. maker of fine menswear, has a subsidiary in ethiopia. this year, the subsidi...
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