Homework Answers
first year deduction will be = $5000 - (amount in excess of $50,000)
=> $5,000 - 3,300
=>$1,700.
monthly deduction will be =( 53,300 total expense - first year deduction of 1700)/180 months
=>$286.67.
total of monthly deductions in the year = $286.67*12 months =>$3,440.04.
total of deduction will be = $1,700+3440.04
=>$5,140.
Add Answer to:
Cherry Corporation, a calendar year C corporation, is formed and begins business on 10/1/2018. In connection...
Cherry Corporation, a calendar year c corporation, is formed and begins business on 10/1/2019. In connection...
Cherry Corporation, a calendar year c corporation, is formed and begins business on 10/1/2019. In connection with its formation, Cherry incurs organizational expenditures of $50,900. Round the per month amount to two decimal places. Round your final answer to the nearest dollar. Determine Cherry Corporation's deduction for organizational expenditures for 2019.
Cherry Corporation, a calendar year C corporation, is formed and begins business on 8/1/2019. In connection...
Cherry Corporation, a calendar year C corporation, is formed and begins business on 8/1/2019. In connection with its formation, Cherry incurs organizational expenditures of $53,800. Round the per month amount to two decimal places. Round your final answer to the nearest dollar. Determine Cherry Corporation's deduction for organizational expenditures for 2019. $______
Cherry Corporation, a calendar year C corporation, is formed and begins business on 8/1/2019. In connection...
Cherry Corporation, a calendar year C corporation, is formed and begins business on 8/1/2019. In connection with its formation, Cherry incurs organizational expenditures of $51,200. Round the per month amount to two decimal places. Round your final answer to the nearest dollar. Determine Cherry Corporation's deduction for organizational expenditures for 2019. $ 2,394
Cherry Corporation, a calendar year C corporation, is formed and begins business on 4/1/2020. In connection...
Cherry Corporation, a calendar year C corporation, is formed and begins business on 4/1/2020. In connection with its formation, Cherry incurs organizational expenditures of $51,700. Round the per month amount to two decimal places. Round your final answer to the nearest dollar. Determine Cherry Corporation's deduction for organizational expenditures for the current year.
Cherry Corporation, a calendar year corporation, is formed and begins business on April 1, 2019. In...
Cherry Corporation, a calendar year corporation, is formed and begins business on April 1, 2019. In connection with its formation, Cherry Incurs organizational expenditures of $54,000. Round the per month amount to two decimal places. Round your final answer to the nearest dollar. Determine Cherry Corporation's deduction for organizational expenditures for 2019.
someone help wrong answer Chapter 17 Assignments-Set 1 Exercise 17-25 (Algorithmic) (LO. 2) Cherry Corporation, a...
someone help wrong answer
Chapter 17 Assignments-Set 1 Exercise 17-25 (Algorithmic) (LO. 2) Cherry Corporation, a calendar year C corporation, is formed and begins business on 10/1/2018. In connection with its formation, Cherry incurs organizational expenditures of $53,300. Round the per month amount to two decimal places. Round your final answer to the nearest dollar Determine Cherry Corporation's deduction for organizational expenditures for 2018. A corporation may elect to amortize organizational expenses over a period of 15 years or more.
No resultsくノoption Book Print hem Exercise 3-28 (Algorithmic) (LO. 2) Cherry Corporation, a calendar year C...
No resultsくノoption Book Print hem Exercise 3-28 (Algorithmic) (LO. 2) Cherry Corporation, a calendar year C corporation, is formed and begins business on 10/1/2018. In conection with its formation, Cherry incurs organizational expenditures of $51,700. Round the per month amount to two decimal places. Round your final answer to the nearest dollar Determine Cherry Corporation's deduction for organizational expenditures for 2018. 6 8 5
In 2019, Nighthawk Corporation, a calendar year C corporation, has $5,620,000 of adjusted taxable income and...
In 2019, Nighthawk Corporation, a calendar year C corporation, has $5,620,000 of adjusted taxable income and $168,600 of business interest income. Nighthawk has no floor plan financing interest. The business interest expense for the year is $2,248,000. a. Assume that Nighthawk has average gross receipts for the prior three-year period of $35,200,000. Determine Nighthawk's current-year deduction for business interest. $ b. Assume that Nighthawk has average gross receipts for the prior three-year period of $19,500,000. Determine Nighthawk's current-year deduction for...
Beech Corporation, an accrual basis calendar year taxpayer, was organized and began business on August 1st...
Beech Corporation, an accrual basis calendar year taxpayer, was organized and began business on August 1st of the current calendar tax year. During the current year, the corporation incurred the following expenses: State fees for incorporation $ 685 Legal and accounting fees incident to organization 2,398 Expenses for the sale of stock 2,740 Organizational meeting expenses 1,028 Assuming that Beech Corporation does not elect to expense but chooses to amortize organizational expenditures over 15 years, calculate the corporation's deduction for...
Egret Corporation, a calendar year C corporation, was formed on March 6, 2018, and opened for...
Egret Corporation, a calendar year C corporation, was formed on March 6, 2018, and opened for business on July 1, 2018. After its formation but prior to opening for business, Egret incurred the following expenditures. Accounting $ 7,000 Advertising 14,500 Employee payroll 11,000 Rent 8,000 Utilities 1,000 What is the maximum amount of these expenditures that Egret can deduct in 2018 ? Round to nearest dollar.
Cherry Corporation, a calendar year c corporation, is formed and begins business on 10/1/2019. In connection with its formation, Cherry incurs organizational expenditures of $50,900. Round the per month amount to two decimal places. Round your final answer to the nearest dollar. Determine Cherry Corporation's deduction for organizational expenditures for 2019.
Cherry Corporation, a calendar year C corporation, is formed and begins business on 4/1/2020. In connection with its formation, Cherry incurs organizational expenditures of $51,700. Round the per month amount to two decimal places. Round your final answer to the nearest dollar. Determine Cherry Corporation's deduction for organizational expenditures for the current year.
Cherry Corporation, a calendar year corporation, is formed and begins business on April 1, 2019. In connection with its formation, Cherry Incurs organizational expenditures of $54,000. Round the per month amount to two decimal places. Round your final answer to the nearest dollar. Determine Cherry Corporation's deduction for organizational expenditures for 2019.
someone help wrong answer
Chapter 17 Assignments-Set 1 Exercise 17-25 (Algorithmic) (LO. 2) Cherry Corporation, a calendar year C corporation, is formed and begins business on 10/1/2018. In connection with its formation, Cherry incurs organizational expenditures of $53,300. Round the per month amount to two decimal places. Round your final answer to the nearest dollar Determine Cherry Corporation's deduction for organizational expenditures for 2018. A corporation may elect to amortize organizational expenses over a period of 15 years or more.
No resultsくノoption Book Print hem Exercise 3-28 (Algorithmic) (LO. 2) Cherry Corporation, a calendar year C corporation, is formed and begins business on 10/1/2018. In conection with its formation, Cherry incurs organizational expenditures of $51,700. Round the per month amount to two decimal places. Round your final answer to the nearest dollar Determine Cherry Corporation's deduction for organizational expenditures for 2018. 6 8 5
Most questions answered within 3 hours.
-
Suppose car models A, B, and C are popular among drivers.
Suppose 12% of the drivers...
asked 7 minutes ago -
write a program that finds the number of zeros in an 8-bit data
item using assembly...
asked 8 minutes ago -
Which statement is always true: The total energy of a closed
system...
A) is always equally...
asked 22 minutes ago -
find the critical value associated with a right sided hypothesis of
the mean using a sample...
asked 2 hours ago -
Which of the following statements is true with respect to a
simple linear regression model?
a....
asked 3 hours ago -
The energy required to remove an electron from a surface of a
solid element is called...
asked 4 hours ago -
How would you train your employees to avoid risks of using
mobile devices?
asked 4 hours ago -
Assume Kw = 1.01 ✕ 10−14
For pure water, we can calculate [H3O+ ] = [OH...
asked 5 hours ago -
Suppose that on a temperature scale X, water boils at 203.0°X
and freezes at -105.7°X. What...
asked 6 hours ago -
BaS crystallizes in a cubic unit cell with S2- ions on each
corner and each face....
asked 7 hours ago -
A. 0≤P(Oi)≤10≤P(Oi)≤1 for each i
B. P(Oi)≤0P(Oi)≤0
C. P(Oi)=1+P(OCi)P(Oi)=1+P(OiC)
D. P(Oi)≥1P(Oi)≥1
If an experiment consists of...
asked 8 hours ago -
A battery has an emf of 9.20V and an internal resistance of 1.20
ohm. a)What resistance...
asked 8 hours ago