Business, 26.03.2020 21:53 lealaslee858
Adelyn generated a tentative general business credit of $42,000 for the current year. Her net regular tax liability before the general business credit is $107,000, and her tentative minimum tax is $88,000. Complete the statements below regarding Adelyn's limitation on the general business credit.
(a) Adelyn's general business credit is limited to his net income tax reduced by the of his tentative minimum tax or of the net regular tax liability that exceeds $ .
Therefore, Charles's allowable general business credit for the year is $ .
Answers: 1
Business, 22.06.2019 06:40
Depreciation on the company's equipment for 2017 is computed to be $18,000.the prepaid insurance account had a $6,000 debit balance at december 31, 2017, before adjusting for the costs of any expired coverage. an analysis of the company's insurance policies showed that $1,100 of unexpired insurance coverage remains.the office supplies account had a $700 debit balance on december 31, 2016; and $3,480 of office supplies were purchased during the year. the december 31, 2017, physical count showed $300 of supplies available.two-thirds of the work related to $15,000 of cash received in advance was performed this period.the prepaid insurance account had a $6,800 debit balance at december 31, 2017, before adjusting for the costs of any expired coverage. an analysis of insurance policies showed that $5,800 of coverage had expired.wage expenses of $3,200 have been incurred but are not paid as of december 31, 2017.
Answers: 3
Business, 22.06.2019 23:50
Juniper company, inc. uses a perpetual inventory system. the company purchased $9,750 of merchandise on august 7 with terms 1/10, n/30. on august 11, it returned $1,500 worth of merchandise. on august 16, it paid the full amount due. the correct journal entry to record the payment on august 16 is:
Answers: 1
Adelyn generated a tentative general business credit of $42,000 for the current year. Her net regula...
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