Intense Corporation begins business on March 2, 2021. The corporation incurred startup expenditures of $52,000. If Intense Corporation elects § 195, determine the total amount that Intense may deduct in 2021 (rounded)
a. $5,450
b. $5,722
c. $3,000
d. $0
e. $52,000
Answers
Intense Corporation begins business on March 2, 2021. The corporation incurred startup expenditures of $52,000. If Intense Corporation elects § 195, determine the total amount that Intense may deduct in 2021 (rounded . The correct answer is: c. $3,000
Startup expenditures are the costs incurred before a business begins its active operations. Under Section 195 of the Internal Revenue Code, businesses can elect to deduct a limited amount of startup expenditures in the year they begin business, with the remaining costs amortized over a period of 180 months (15 years) starting from the month the business begins.
In this case, the startup expenditures are $52,000. However, the total amount that Intense Corporation may deduct in 2021 is limited to $5,000, with a phase-out threshold of $50,000. Since the startup expenditures exceed the phase-out threshold, the deduction is reduced by the excess amount.
Therefore, the total amount that Intense may deduct in 2021 is $5,000 (the maximum deduction limit for startup expenditures) minus $2,000 (the excess amount over the phase-out threshold of $50,000), which equals $3,000.
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Related Questions
Companies go through different phases to reach product/market fit. These phases are the:
A) the prototype stage, the launch stage, the traction stage, the monetization stage, and the growth stage.
B) idea stage, the prototype stage, the launch stage, the traction stage, the monetization stage, and the growth stage.
C) idea stage, the traction stage, the monetization stage, and the growth stage.
D) idea stage, the prototype stage, the launch stage, the traction stage, and the growth stage.
Answers
Answer: D is the correct answer.
Explanation: The different phases to reach the product/ market fit are:
The idea stage: It is the first stage, where the idea of a product comes into existence.The prototype stage: here, the idea converts into a modelThe launch stage: the product is launched in the market for the consumers.The traction stage: the initial progress of a startup and the momentum it builds as it grows.The growth stage: the consumers have accepted the product and are buying it.
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true or false: abc improves cost tracing by using more cause-and-effect relationships in assigning indirect costs to numerous activity centers.
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True.
ABC improves cost tracing by using more cause-and-effect relationships in assigning indirect costs to numerous activity centers.
What is cost tracing?Cost tracing refers to the allocation of incurred costs directly related to a specific cost object. Note that cost allocation is a general term for allocating direct or indirect costs to cost objects.Cost tracing is the process of matching costs directly to the products being manufactured, while cost attribution uses estimates to apply costs to products. Many costs can be assigned directly to products, but some unit prices vary and must be assigned.Cost tracing is an important administrative function:Helps management assess costs incurred in various cost centers. Managers can easily identify the costs incurred to produce the units.Helps you set unit prices for your products.To learn more about cost tracing from the given link :
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Field sales are conducted over the phone.
1) True
2) False
Answers
Answer:
true
Explanation:
It is possible when net profit for the year is 100 mln. USD and cash balance at year end is close to zero. TRUE FALSE
Answers
FALSE. It is not possible for the net profit for the year to be 100 million USD while the cash balance at the year-end is close to zero.
Net profit represents the difference between total revenue and total expenses, while the cash balance represents the amount of cash available at a specific point in time.
If the net profit for the year is 100 million USD, it means that the company has generated a positive financial result after accounting for all expenses. However, the cash balance at the year-end could be affected by various factors such as cash inflows from sales, cash outflows for expenses, investments, or debt repayments.
To have a cash balance close to zero at the year-end, the company would need to have significant cash outflows that offset the net profit generated during the year. This could be due to factors like large investments, debt repayments, or high operating expenses. Therefore, it is not possible for the net profit to be 100 million USD while the cash balance at the year-end is close to zero.
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What is one way to prepare for a job shadowing experience?
Find directions to the shadowing location five minutes before you leave.
Look over recent news about the company.
Make sure to wear a lot of cologne or perfume.
Wear clothing that is casual to ensure you are comfortable.
Answers
Answer: Look over recent news about the company.
Explanation: I took the test and got it right. :D
Answer:
B
Explanation:
what is company and what is the difference between a private and public company
Answers
Answer:
Private is only you can see it and public is anyone can see it
Explanation:
How should the headings of a resume be formatted so that they are clear and easy to find?
a. bold and italicized
b. capitalized and bold
c. underlined and italicized
d. capitalized and underlined
Answers
Answer:
B. capitalized and bold
Explanation:
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Got it correct on Edge.
What taxes and withholdings take the biggest bite out of the amount of your paycheck?.
Answers
The taxes and withholdings take the biggest bite out of the amount of your paycheck is the federal income tax.
What is Federal income tax?
This is the largest source of revenue of the government and it is usually collected by the federal government.
It is usually based on annual earnings for individual and businesses in which a percentage is deducted.
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what is the optimal winning percentage of the small market team? enter your response in the decimal format to the second decimal point:
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The optimal winning percentage of a small market team cannot be determined without additional information.
It depends on various factors such as the competitiveness of the league, the team's resources, and the overall level of talent in the league.The optimal winning percentage of a small market team is subjective and depends on several factors.
It is influenced by the competitiveness of the league in which the team participates. If the league is highly competitive, the optimal winning percentage may be higher than in a less competitive league.
Additionally, the team's resources, including financial capabilities, management strategies, and player recruitment, play a significant role in determining the optimal winning percentage. A small market team with limited resources may face challenges in competing with larger market teams, affecting their optimal winning percentage.
Moreover, the overall level of talent in the league can impact the optimal winning percentage. If the league comprises highly skilled teams, achieving a higher winning percentage becomes more difficult, and the optimal winning percentage may be lower compared to a league with lower overall talent.
Given these considerations, without specific information about the league, resources, and competitiveness, it is not possible to determine the exact optimal winning percentage for a small market team.
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Which one of the four factors of copyright is MOST important?
Answers
Answer:
the purpose and character of the use i think
Explanation:
Dresden Pharmaceuticals has decided to go ahead and startclinical trials on a potential new drug. The total R&D costsare estimated to reach around $875,000,000 with clinical trialsmounting to $145,000,000. The current market size is estimated to be around 3,000,000 and is expected to grow at 4 percent every year. The market share Dresden hopes to capture in the first year is 7 percent, and is projected to grow by 25 percent each year for the next 4 years. A monthly prescription is anticipated to generate revenue of $420 while incurring variable costs of $150. A discount rate of 8 percent is assumed.
Dresden Pharmaceuticals
Data
Market Size 3,000,000
Unit (monthly Rx) revenue ($) 420
Unit (monthly Rx) cost ($) 150
Discount Rate ( per cent) 8
Project Costs
R&D ($) 875,000,000
Clinical Trials ($) 145,000,000
Calculate the net present value for Dresden's new drug
Answers
The net present value (NPV) of Dresden's new drug project is $28,083,722.
To calculate the NPV, we need to find the present value of all the cash inflows and outflows associated with the project. The cash inflows are the revenue generated by the drug sales, and the outflows are the R&D and clinical trial costs. We can calculate the cash inflows by multiplying the monthly prescription revenue by the expected number of prescriptions sold each year.
We then subtract the variable costs per prescription to get the net cash inflow per prescription. We can then multiply the net cash inflow per prescription by the number of prescriptions sold each year to get the total annual cash inflow. We then calculate the present value of each year's cash inflow and sum them up. We also need to subtract the present value of the R&D and clinical trial costs. Using an 8% discount rate, the NPV of the project is calculated to be $28,083,722.
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Candle Shop, Inc. has net sales on account of $1,800,000. The average net accounts receivable are $680,000. Calculate the days' sales in receivables.(Use 365 days for any calculations. Round any intermediate calculations and your final answer to two decimal places.)
Answers
Answer:
137.89 days
Explanation:
Days' sales receivables = (Accounts Receivables / Net Credit Sales) *365
Accounts Receivables = $ 680,000
Net Credit Sales = $ 1,800,000
Days' sales receivables = $680,000 / $ 1,800,000 * 360 days
=137.88888
= 137.89 days
The days' sales in receivables is 137.89 days
Explain why a positive attitude, high -esteem, and enthusiasm contribute to career success
Answers
Answer:
A positive attitude, high-esteem, and enthusiasm contribute to career success because they make the worker approach their activities, projects and ideas with a positive mindset, trusting in their abilities and anticipating a positive result, facing and overcoming their fears and always looking to the good side of things.
On the other hand, if the person were pessimistic or had a bad attitude, they would face their projects with doubts and fears, putting them aside in the face of the first adversities.
The sales engineer from General Electric who calls on Boeing to sell the GE90 jetengine to be used in a Boeing aircraft is an example of a ____________.
A.Technical seller
B.Solutions servicer
C.Missionary salesperson
D.Trade servicer
E.Telemarketer
Answers
The sales engineer from General Electric who calls on Boeing to sell the GE90 jet engine to be used in a Boeing aircraft is an example of a technical seller.
A technical seller is someone who has deep knowledge about the product they are selling and can communicate its technical features and benefits to the customer. In this case, the sales engineer from General Electric has a thorough understanding of the GE90 jet engine and can provide technical specifications to Boeing, highlighting the benefits of using this engine in their aircraft. The technical seller's role is crucial in industries where products are highly technical, such as aviation or industrial manufacturing. The sales engineer needs to understand the customer's needs and explain how their product can meet those needs, both in terms of technical specifications and business benefits. Therefore, the sales engineer from General Electric who calls on Boeing to sell the GE90 jet engine is a perfect example of a technical seller.
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How long had it been since boats were the only way on & off manahattan
Answers
Answer:
The previous day, Monday, September 10, 2001, had been a long night for the New York charter boat captain
Explanation:
Freitas was about to take part in what has become known as the 9/11 boat lift—the largest water evacuation in history and one of the uplifiting, if lesser-known, episodes of that terrible day when terrorists flew two passenger jets into the iconic Twin Towers—part of a multipronged attack on America A makeshift armada of about 150 commercial vessels of various types—tugboats, ferries, charter boats—would transport an estimated 500,000 people out of the disaster zone of lower Manhattan to safety in New Jersey and Brooklyn.
for aws enterprise customers, any questions about billing and overall aws account can be directed to which aws support personnel?
Answers
Questions about invoicing for AWS Enterprise Accounts can be sent to the AWS Concierge.
They will respond to your questions about billing and accounts in a timely manner, and they will help with you to put best practices in place so you can concentrate on what really matters—running your business.
A designated Cloud Service Delivery Manager (CSDM), a Cloud Architect (CA), and access to the AMS security team are included as baseline operations.
Direct clients of AWS Managed Services who use AWS Enterprise Support can access AWS Incident Detection and Response in qualifying regions at no extra cost.
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Which of the following summarize how the social-cultural-political environment of the United States has encouraged economic growth? Multiple select question. No social or moral taboos on production Wealth creation considered an antisocial goal A negative attitude toward risk taking A competitive market system
Answers
Answer:
There are two answers to this::
1. No social or moral taboos on production
2. A competitive market system
Custom Motors' account with Widgets, Inc. Has an opening balance of $1,200. They make four purchases totaling $1,500, receive a $400 credit for returned widgets, and make a payment of $2,000. What amount will go into the schedule of accounts for Custom Motors? A. $300 B. $1,500 OC. $1,100 D. $2,000
Answers
Answer:
A. $300
Explanation:
The computation of the amount will go into the schedule of accounts for Custom Motors is shown below;
= Opening balance + purchase made - credit received - payment made
= $1,200 + $1,500 - $400 - $2,000
= $300
Hence, the amount will go into the schedule of accounts for Custom Motors is $300
Therefore the option a is correct
And, the same would be considered
Answer:
A 300
Explanation:
All of the following are examples of transfer payments except: _____________.
a. unemployment compensation to the unemployed.
b. welfare benefits to the poor.
c. Social Security payments to the elderly.
d. dividend payments to the wealthy
Answers
"Imagine that your high school or college has been overrun with zombies. Your math professor, the cafeteria ladies, and even your best friend have all joined the walking dead. Flesh out a plan to avoid the zombies, including where you’d hide and the top-five things you’d bring to stay alive." (250 words or less)
Answers
Get out of the way when a zombie surges toward you by moving aside, grabbing them, and pushing them through. Utilize their own momentum to trip them, keep them moving past you, or otherwise cause them to fall.
Hand-to-hand fighting with a zombie should only be intended to get you away from them and should be extremely brief. The scientists calculated that it would take around 1,000 days, or 2.7 years, for humans to exterminate every zombie under these circumstances.
The human population would then need another 25 years to begin to recover from the onslaught. My backpack, any sharp things or lighters I could locate in the band room, any heavy sporting equipment I could discover, some pencils and pens, and teacher desks would all be taken.
I would probably look for a place where only one person could potentially be and murder them, like the principal's office or a counselor's office. I would seclude myself indoors and prepare whatever cafeteria food was available. There would be a microwave in the workplace.
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a 32-ounce package selling for $1.60 would have a unit price of:
Answers
The unit price of a 32-ounce package selling for $1.60 can be calculated by dividing the total price by the number of units. In this case, the unit price would be $0.05 per ounce.
To calculate this, you would divide the total price of $1.60 by the number of ounces in the package, which is 32. Calculating the unit price is useful when comparing the cost of similar products sold in different quantities or sizes. By calculating the unit price, you can determine which product offers the best value for your money. It is important to keep in mind that the unit price may vary depending on the size and quantity of the product. Therefore, it is essential to always compare unit prices to make informed purchasing decisions.
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How can companies balance the importance of maintaining Filipino values in their business practices with the need to remain competitive in the global market?
Answers
Answer: Through
Embed Filipino values in the company culture, Conduct market research, etc.
Explaneation: Balancing the importance of maintaining Filipino values in business practices with the need to remain competitive in the global market can be a challenge for companies. However, there are several strategies that companies can adopt to achieve this balance:
Embed Filipino values in the company culture: Companies can embed Filipino values such as respect for elders, integrity, and hard work in their organizational culture. This can be done by creating a code of conduct that incorporates these values, providing training and development programs that reinforce them, and recognizing employees who embody these values.
Conduct market research: Companies can conduct market research to understand the values and preferences of their target market. This can help them identify which Filipino values are important to their customers and how they can incorporate them into their products and services.
Embrace innovation: Companies can embrace innovation and new technologies to improve their competitiveness in the global market. However, they can also ensure that these innovations align with Filipino values, such as environmental sustainability and social responsibility.
Collaborate with local communities: Companies can collaborate with local communities to better understand Filipino values and customs. This can help them develop products and services that are culturally appropriate and resonate with local customers.
Practice corporate social responsibility: Companies can practice corporate social responsibility by giving back to the community and supporting social causes. This can help them build a positive reputation and foster goodwill among customers, while also demonstrating their commitment to Filipino values.
By adopting these strategies, companies can balance the importance of maintaining Filipino values in their business practices with the need to remain competitive in the global market
Explain the limitations of statistics
Answers
How would you do this question ??
Answers
Answer:
You would want to divide the $4.00 among the other things you would want to buy. If it goes over the limit then you would want to swap that out with something cheaper. I hope this helps!
Explanation:
You receive a call from "Credit Services." The person on the line compliments you on your great credit history and also informs you that you have qualified for a card with better features and a lower rate. They’ll only need a few minutes of your time to go over some personal information before they can get the card out to you. Which of the following is the biggest red flag in this scenario?
A. You'll have to provide personal information.
B. They'll only need a few minutes of your time.
C. You have qualified for a credit card.
D. You received a call from "Credit Services."
Answers
on april 1, year 1, maine corporation paid $10,100 cash in advance for a one-year lease on an office building. assume that maine records the prepaid rent as an asset and that the books are closed on december 31.
Answers
The payment for one-year lease and the related adjusting entry in order to recognize rent expense in an accounting equation is shown below.
Maine Corporation
The Accounting equation for the year of 2016 is shown
Event Cash Prepaid rent = Common stock
Retained earnings
Paid rent in advance ($10,100) $10,100 =
Adjusted rent expenses ($8,383) = ($8,383)
Total ($10,100) $1,717 = $8,383
Shown below is the calculation of adjusted rent expense -
The adjusted rent expenses = The prepaid rent × No. of months /Total months in a year.
= $10,100 × 10 / 12
=$8,383
Hence, so the adjusted rent expenses are $8,383.
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Online content that has been created and posted by unpaid contributors such as customers or fans of a product or service is referred to as:.
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Online content that has been created and posted by unpaid contributors such as customers or fans of a product or service is referred to as User-generated content.
User-generated contentUGC for short is content that is created, published or submitted by users of a brand. In numerous cases, it's the most influential content for brands. Usually, contributors are unpaid fans who encourage a brand instead of the brand promoting itself.
Online users are evolved increasingly savvy in knowing which companies are using messy marketing tactics, and which ones are being genuine and evident.
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when does business unit planning occur in the strategic planning process? group of answer choices after corporate planning and product planning after offering planning but before product planning before corporate planning after offering planning after corporate planning but before offering planning
Answers
Business unit planning typically occurs after corporate planning and product planning but before offering planning in the strategic planning process.
What is Business?Business is an activity that involves the production, buying, and selling of goods and services. It involves individuals, organizations, and companies working together to create economic growth and development. Business activities are conducted in order to generate profits and satisfy customer needs. Businesses can involve a variety of activities such as accounting, finance, marketing, operations, production, and human resources. Businesses must also consider their legal, ethical, and social responsibilities when engaging in their activities.
This allows the business to identify the potential opportunities and resources available to the business unit, as well as analyze the risks associated with pursuing those opportunities. This process also helps the business unit identify the strategies and objectives necessary to achieve its desired outcomes.
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Explain one advantage of using retained profit as a source of finance.
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On January 1, Year 1, Purl Corp. purchased as a long-term investment $500,000 face amount of Shaw, Inc.’s 8% bonds for $456,200. The bonds were purchased to yield 10% interest. The bonds mature on January 1, Year 6, and pay interest annually on January 1. Purl uses the effective interest method of amortization. What amount (rounded to nearest $100) should Purl report on its December 31, Year 2, balance sheet for these held-to-maturity bonds?
Answers
Answer:
Investment in bonds $468,000
Explanation:
In this case, the journal entry to record the purchase of the bonds should be:
January 1, Year 1, bonds purchased as long term investment
Dr Investment in bonds 456,200
Cr Cash 456,200
In the balance sheet it would be reported as an asset: Investment in bonds $456,200
amortization of bond discount for first coupon = ($456,200 x 10%) - ($500,000 x 8%) = $45,620 - $40,000 = $5,620
journal entry to record first coupon payment:
January 1, Year 2, first coupon payment collected
Dr Cash 40,000
Dr Investment in bonds 5,620
Cr Interest revenue 45,620
So the investment in bonds account now has a $461,820 balance
amortization of bond discount for second coupon = ($461,820 x 10%) - ($500,000 x 8%) = $46,182 - $40,000 = $6,182
journal entry to record second coupon payment:
January 1, Year 3, second coupon payment collected
Dr Cash 40,000
Dr Investment in bonds 6,182
Cr Interest revenue 46,182
So the investment in bonds account now has a $468,002 balance
Since we are told to report the December 31, Year 2, balance, the accrued interest journal entry should be:
Dr Interest receivable 40,000
Dr Investment in bonds 6,182
Cr Interest revenue 46,182
The account balance is the same though, $468,002 rounded down to $468,000