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.
-
Paired research designs, also sometimes referred to as repeated
measures designs, are associated with some common...
asked 1 minute from now -
You working as a clinical engineer dealing with
autoclaves, xrays and life care machines, in what...
asked 1 minute ago -
Explain in detail (not just enumerate) each of Koch’s
postulates to determine the etiology of a...
asked 13 minutes ago -
Assume ABC Company has asked you to not only prepare their 2017
year-end Balance Sheet but...
asked 11 minutes ago -
You have just had a new set of tires put on your car, and now
the...
asked 16 minutes ago -
Please answer ASAP 2) Choose a point at random from the unit
square [0, 1] ×...
asked 31 minutes ago -
Draw the Lewis structures and determine which of these
molecules has a central atom that unavoidably...
asked 31 minutes ago -
Do we typically carry antibodies against the RH antigen in our
blood plasma?
asked 34 minutes ago -
What are the differences between an antibiotic, a semisynthetic,
and a synthetic as types of antimicrobials?
asked 30 minutes ago -
One mole of oxygen gas is at a pressure of 5.90 atm and a
temperature of...
asked 37 minutes ago -
The primary side of a transformer has 935 turns and is connected
to 118 Volts A/C....
asked 36 minutes ago -
This must be done in Java and it must contain a public static
void (string []args)...
asked 39 minutes ago