Answer:
A. = (15% X $2M) + (21% X $2M) = $720,000. Since there is no mechanism for mitigating double taxation, the branch profit will be taxed on the to tax rate of 15% and 21% which is $300,000 and $420,000.
B. The total tax for $2m branch profit if US corporations can remove foreign based profit from US taxation will be just the 15% x $2m = $300,000.
C.If they are allowed to take deductions for foreign income taxes, the total tax on the $2m branch profit will be (21% -15%) x $2m = $120,000.
Explanation:
D.1. If credit are allowed for foreign income tax paid, total tax will be ($2m - $300,000 been foreign tax paid) x 21% = $357,000
D.2.
If the charge foreign income taxes at 30% and US corporations can claim refundable credit for foreign income tax paid on foreign source income = ($2m - $300,000 been the foreign income tax paid) = $1 700,000 x 30% = $510,000
Answer:
The answer is $44,000
Explanation:
Solution
Given that
Now
Present/current year AGI = $300000
Present /current year tax liability = $60000
Prior year AGI = $200000
Prior year tax liability = $40000
Thus
As per Tax rule or applying the Tax rule
If Adjusted gross income(AGI) of prior year is below $250000 then the minimum required tax payment in the current year in order to avoid interest penalty is lower of
(1) 90% of present /current year tax (liability) or
(2) 110% of prior year tax liability
So
Because the prior year AGI is $200000 which is lower than $250000, in order to avoid interest penalty, the minimum required payment amount of tax liability in current/present year is lower of
(1) 90% of current year tax liability of $60000
Then
$60000 *90% = $54000
Or
(2)110% of prior year tax liability of $40000
$40000 ×110% = $44000
Hence, minimum required total tax payment amount for the current year is $44,000
Answer:
It is generally not recommended to use a combination of both quantitative and qualitative methods.
Explanation:
For business success it is important to use a combination of qualitative and quantitative methods.
Quantitative methods involves getting insight from data by using formulas, models and other mathematical methods to draw conclusions. Facts and logic is used to make business decisions.
Qualitative methods involve insights that is not based on mathematical methods, for example finding out what motivates consumer spending. It uses tools such as surveys and interviews.
Answer:
Explanation:
1. prime costs: direct materials+direct labour
= $22,000+$35,000
= $57,000
2. Conversion Costs= Direct labour + Manufacturing Overheads
= $35,000+ $17,500
= $52,500
3. Product Costs = direct material+ direct labour+ manufacturing overheads
= $22,000 + $ 35,000 + $17,500
= $74,500
4. Period Costs = Selling expenses+ administrative expenses
= $17,600 + $13, 400
= $31,000
If 13,750 equivalent units are produced, what is the equivalent material cost per unit = direct materials costs / unit produced
= $22,000/13,750
= $1.6 per unit
If 17,500 equivalent units are produced, what is the equivalent conversion cost per unit = total conversion costs/unit produced
= $52,500/17,500
=$3 per unit
Answer:
The correct answer is $0
Explanation:
Solution
An Impairment loss recognized when a book value of reporting company is more than its fair value, In the given example, the book value is not more than its fair value or higher than the value, hence the amount of the impairment loss that Antle Inc would record for goodwill at the end of 2021 is: Impairment loss is $0
