In 2018, a corp. had gross sales of $100,000,000 and business interest income of $20,000,000. a corp. had deductible business expenses (other than interest) of $60,000,000 and business interest expense of $35,000,000. a corp. had adjusted taxable income (adj. taxable income = taxable income without taking into account non-business income, business interest expense, business interest income or nol) of $40,000,000.
what amount, if any, of a corp.’s business interest expense deduction is disallowed in 2018?
what would your answer be (i. e. what amount of a corp’s business interest expense would be disallowed) if instead a corp. had gross sales of $1,000,000, business interest income of $200,000, deductible business expenses (other than interest) of $600,000, business interest expense of $350,000 and adjusted taxable income of $400,000? a corp’s gross sales have been $1m for the past 3 years.
Answers: 1
Business, 22.06.2019 10:20, Sparkledog
Blue spruce corp. has the following transactions during august of the current year. aug. 1 issues shares of common stock to investors in exchange for $10,170. 4 pays insurance in advance for 3 months, $1,720. 16 receives $710 from clients for services rendered. 27 pays the secretary $740 salary. indicate the basic analysis and the debit-credit analysis.
Answers: 1
Business, 22.06.2019 23:30, bearbri4520
The upper-level managers of synergy technology are meeting for the week to look at the long-term company goals and overall direction of the organization. the ceo has expressed her concern over the economy and has told her managers to look closely at the environment outside the organization before making decisions and to be future oriented. in this meeting, top managers of synergy are
Answers: 2
In 2018, a corp. had gross sales of $100,000,000 and business interest income of $20,000,000. a corp...
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