For 2020, ross corporation had pretax ordinary income of $500,000 and sold for $154,000 an asset purchased previously for $130,000. calculate the tax liability for the company.

Answers

Answer 1

In 2020,

Ross corporation had pretax ordinary Income= $500,000

Sold for = $154,0000

purchased previously for = $130,000

Tax liability for the company is $110040

Total Income =

Calculation

$500000+($154,000-$130000)

=$524000

In 2020,Tax liability was 21%

221/100*$524,000

Tax liability =

$110,040

Get more information about Tax liability here:

https://brainly.com/question/16950907

#SPJ4


Related Questions

The accounts payable account is a(n) ______ account.
a. expense
b. revenue
c. asset
d. liability

Answers

The accounts payable account is liability account., Therefore, the correct option is D.

What is liability account?

When a liability account is debited, the amount owed by the company is reduced (i.e., the liability increases), and when a liability account is credited, the amount owed by the company grows (i.e. increases the liability). Current liabilities and long-term liabilities are the two categories that make up liability accounts.

To learn more about liability account

https://brainly.com/question/14676034

#SPJ4

For a monopolist, when the price effect is greater than the output effect, an increase in output sold causes marginal revenue to be?

Answers

For a monopolist, when the price effect is greater than the output effect, an increase in output sold causes marginal revenue to be negative.

What Is a Monopolist?

An individual, group, or business that completely dominates the market for a certain commodity or service is known as a monopolist. A monopolist is likely to support legislation that strengthens monopolies since it provides them more power. Because clients have no other options, a monopolist has no incentive to improve their product. Instead, they have the monopoly's protection as their main priority.

When a monopolist becomes the sole supplier of a specific good or service, a monopoly is created. This differs from a monopsony, which is when only one entity has the authority to make purchases of goods or services. Additionally, it differs from an oligopoly, which is characterized by a small number of vendors controlling a market.

To know more about monopolist visit:

https://brainly.com/question/14055453

#SPJ4

The ________ function calculates the periodic interest for a specified payment period on a loan or investment.

Answers

The NPER(Number of Periods) function calculates the periodic interest for a specified payment period on a loan or investment.
So the correct filling is NPER(Number of Periods)

What is periodic interest
The quantity of compounding periods has a direct impact on the periodic interest rate of a loan or investment. If an investment accumulates monthly and has an effective annual return of 12%, its periodic rate is 1%. If you were to compound the daily periodic rate, its periodic interest rate would be 0.00033, or the equivalent of 0.03%. An investment grows more fast the more often it compounds. Consider that a $1,000 investment has two options. Option one provides an annual interest rate of 8% to the investor, and the interest grows on a monthly basis. Option 2 offers the investor an annual compounded interest rate of 8.125%.

To learn more about Periodic Interest
https://brainly.com/question/13773270
#SPJ4

Yolanda and wes decide to go into business together. what form of partnership arrangement can they use to limit their individual and business liability?

Answers

The form of partnership agreement that can limit their  individual and business liability is a limited liability partnership.

What is a  limited liability partnership?

A  partnership is an agreement between two or more people who are referred to as partners who decide to come together to run a business with the aim of making profit. Partnerships have the advantage of having the ability to raise more capital than a sole proprietorship.

A limited liability partnership is a form of partnership where the liability of partners are limited to the amount of money invested in the business. This means that in the event where a business cannot meet its debt obligation, the maximum amount the partners can lose is the amount of money that is invested in the business.

To learn more about  limited liability partnership, please check: https://brainly.com/question/9244934

Planning involves ________.
a. hiring employees
b. setting goals and objectives
c. analyzing financial statements d. coordinating company activities

Answers

Planning involves b- Setting goals and objectives

The required details for Planning in given paragraph

Planning includes both the process of developing a plan and its accurate and timely execution. Planning may be extremely helpful in avoiding mistakes and seeing possibilities. Good planning demonstrates management's familiarity with the company and their consideration of changes in "products," management, finance, and—perhaps most importantly—the external environment, which includes markets, competitors, users, and regulations. Planning aids in future prediction, future visibility, and the construction of a link between the present and this future.

One of the brain's executive functions is planning, which includes the neurological processes involved in creating, assessing, and choosing a series of ideas and deeds to accomplish a certain objective.

To know  about planning from the given link

https://brainly.com/question/25453419

#SPJ4

An office holder who commits misconduct in office by doing something he or she has no right to do is guilty of:________

Answers

Malfeasance is when a office holder behaves improperly or commits misconduct by acting in a way that is against the law.

A just cause removal of an elected official by statute or recall election is frequently justified by official misconduct. Malfeasance in office is in contrast to "misfeasance in office," which is the performance of an official task without sufficient authority, and "nonfeasance in office," which is the failure to do so.

It is challenging to give a precise definition of official misconduct because numerous highly regarded secondary sources (such as books and comments) strive to identify its foundational elements based on documented occurrences.

To learn more about misconduct by office holder here

https://brainly.com/question/14476947

#SPJ4

Which action would the nurse perform when searching scientific databases for evidence? select all that apply. one, some, or all responses may be correct

Answers

The nurse would conduct Studies in nursing, allied health, and biomedicine can be found in CINAHL, PubMed gives free journal articles, and AHRQ provides clinical guidelines and evidence summaries.

Clinical practice recommendations are made in statements that aim to improve patient care. They are based on a thorough study of the available data and an evaluation of the advantages and disadvantages of various alternative care alternatives.

What do clinical guidelines serve as?

Clinical practice guidelines are "systematically developed statements to assist practitioners and patients judgments about appropriate health care for specific clinical circumstances" and are meant to provide clear guidance on how to deliver healthcare services.

To know more about clinical guidelines

https://brainly.com/question/5496881

#SPJ4

A small company making hole punchers has decided to use a differentiated marketing strategy and target four different market segments. what problems might the company encounter?

Answers

By using a differentiated marketing strategy, the problems that the company might encounter is that each segment requires its own marketing plan and execution and costs add up quickly.

What is differentiation in marketing?

This differentiation strategy is what makes a firm's product or service stand out to their target audience. It involves how a firm distinguish what they sell from what their competitors do.

The differentiation strategy helps to increases brand loyalty, sales, and growth. That is, focusing on the customers is a good start to successful product differentiation. However, the problems that the company might encounter is that each segment requires its own marketing plan and execution and costs add up quickly.

Read more about differentiation strategy

brainly.com/question/14682824

#SPJ1

What major road (just south of the youngstown state university campus) is an abandoned rail line? please include the compete name for full credit.

Answers

Pittsburgh & Lake Erie Railroad Gateway Yard major road (just south of the Youngstown state university campus) is an abandoned rail line.

What is railroad?

The term “railroad” refers to a defunct rail track. The railroad's track does not change and is permanent. In the seventeenth century, the railroad brought England into the world. Two parallel lines are permanently installed on the railroad track.

The Pittsburgh and Lake Erie Railroad was located in Youngstown, Ohio, and is an abandoned rail line. It was the development of 1957. Gateway Yard was in charge of this central location of the railroad.

As a result, P&LE was the is an abandoned rail line.

Learn more about on railroad, here:

https://brainly.com/question/513966

#SPJ4

The presence of a financial market increases the marketability of a financial security by:________

Answers

The right response is "to lower the transaction costs associated with selling the security".

A financial market is any site or mechanism that enables buyers and sellers to exchange financial assets including bonds, shares, the various international currencies, and derivatives. Financial markets provide the link between those with funds to invest and others in need of capital.

What are securities and financial markets?

A financial market is a place where individuals may exchange financial derivatives and securities for little to no cost. Stocks, bonds, raw resources, and precious metals, which are referred to as commodities in the financial markets, are some of the securities.

To know more about Financial Assets, visit: https://brainly.com/question/15071910

#SPJ4

The conflict-handling style in which a person neglects their own concerns and allows the concerns of another to prevail is known as:________

Answers

The conflict-handling style in which a person neglects their own concerns and allows the concerns of another to prevail is known as accommodating.

Recognizing that there are four fundamental interpersonal conflict communication styles—assertive, aggressive, passive, and passive aggressive—is the first step in developing these skills.

Finding a middle ground or renouncing some of your issues while committed to those of others is the definition of the compromising style.  The aim of this somewhat cooperative, moderately forceful style is to strike a balance.

Competing is aggressive; accommodating is passive and cooperative. There is a certain amount of self-sacrifice involved when someone is accommodating; they put other people's needs ahead of their own.

To learn more on accommodating

https://brainly.com/question/14397537

#SPJ4

Savings by _____ in small dollar amounts is the origin of much of the money that funds business loans in an economy

Answers

Savings by Household in small dollar amounts is the origin of much of the money that funds business loans in an economy.

What is loan budget a business?

Business financing is a funding opportunity for business owners to access company loans to be able to pay for things like temporary cash flow interruptions, development schemes, inventory and equipment, and seasonal points in activity.

What is a good excuse for a business loan?

Probably the most obvious reason to think a small business loan is to invest in an increase opportunity for your business. When business is booming, continuing to grow your company can help ensure that your profits don't table or shrink.

To learn more about Business financing , refer

https://brainly.com/question/25534066

#SPJ4

Kia motor company is performing a key function of operations management when it ________ for its new line of automobiles.

Answers

Kia motor company is performing a key function of operations management when it purchases new parts and supplies for its new line of automobiles.

Kia motor company

Kia Corporation, or simply Kia, is a South Korean multinational automobile manufacturer headquartered in Seoul. With sales of over 2.8 million vehicles in 2019, it is South Korea's second largest automobile manufacturer after its parent company, Hyundai Motor Company. Kia began as Kyungsung Precision Industry on June 9, 1944, as a manufacturer of steel tubing and bicycle parts, eventually creating Korea's first indigenous bicycle, the Samchully, in 1951.

To learn more about Kia motor company

https://brainly.com/question/13185927

#SPJ4

The product of one and four thirty-seconds and twenty thirty-seconds is ________.

Answers

2,902,900 seconds or 806.3611111111 hours or 33.5983796296 days

The purposes of managerial accounting are to provide useful information to aid in?

Answers

The purposes of managerial accounting are to provide useful information to aid in "calculating the costs of a company's goods and services, planning for future activities, and comparing actual to planned results."

What is managerial accounting?

Managerial accounting is the method of identifying, assessing, analyzing, analyzing, and communicating financial data to executives in order to help them achieve the goals of their organization.

Some key points regarding the managerial accounting are-

Managerial accounting differentiates from financial accounting in that its intended purpose is to assist users within the organization in making well-informed strategic decisions.Unlike financial accounting, managerial accounting techniques are not governed by accounting standards.The demonstration of managerial accounting information can be tailored to the needs of the end user.Managerial accounting includes many aspects of accounting, such as product costing, financial planning, forecasting, and financial analysis.Financial accounting, on the other hand, generates and disseminates formal financial statements for mass consumption that adhere to current accounting standards.

To know more about the managerial accounting, here

https://brainly.com/question/27823997

#SPJ4

If a producer is advertising a life insurance policy, the producer must disclose the?

Answers

If the Commissioner adopts a term life insurance monetary value index, all term life insurance marketing and policies for people 55 and older must mention it.

The programme is classified as a Form provided by the insurance provider, often completed by the agent and the medical examiner (if applicable) based on data from the applicant. It is signed by the applicant and, if approved, becomes a component of the insurance policy.

Advertising becomes important in business, the life insurance policy is better for everyone. He must disclose all the material facts as required by the company.

To learn more on advertising

https://brainly.com/question/3163475

#SPJ4

The best values management programs also provide either a(n) _______ or a(n) ________ to report any violations.

Answers

The best values management programs also provide either a direct contact person or an anonymous hotline to report any violations. It is better to have those two options because reporting something requires that we remain anonymous. We would probably also create a new conflict on top of it.

A violation report is used to describe every allegation of a violation or alleged violation of this Manual, as well as the investigation and subsequent actions. An instance of a violation might be being bullied at work or school. Another illustration is breaking the law by driving your car faster than the posted limit.

#SPJ4

Suppose that a particular artillery piece has a range r = 4000 yards . find its range in miles. use the facts that 1mile=5280ft and 3ft=1yard.

Answers

Any single quantity in the world can be interpreted in better than one way.  Unit conversion is a method by that we can go back and forth between various units.

Unit conversion

Given:

R=9,350 ydR=9,350 yd is the range in yards

Since we want the content in miles here, we will be utilizing the conversion factor:

1 mi=528 ft1 mi=528 ft

3 ft=1 yd3 ft=1 yd

So to do a unit conversion process, we say these conversion factors as a particle that equals 11.  We describe this concept in this precise conversion:

R=9,350 yd(3 ft1 yd)(1 mi528 ft)R=9,350 yd(3 ft1 yd)(1 mi528 ft)

We set up our conversion factors here as particles that equal 11. We set the units up in such a way that they can balance each other out:

We will thus get:

R=53.125 mi

To learn more about the  Unit conversion visit the link

https://brainly.com/question/4736731

#SPJ4

According to the text, spreadsheet packages are used by virtually every business for _______________.

Answers

An operating system performs three primary tasks: managing the computer's resources, including the CPU, memory, disc drives, and printers; creating a user interface; and running and supporting application software.

Application software that is used to complete routine tasks, such word processing, is referred to as general purpose software.

A general purpose software application is software that has been created to use a computer system to complete common or general tasks for users. Word processing, spreadsheet, and photo editing software are among examples.

The operating system's service maintains track of which users are using what resources—and how much—for accounting purposes as well as to compile consumption data.

To learn more on application software

https://brainly.com/question/4560046

#SPJ4

The textbook suggests that consumers are best able to choose from among the wide variety of otc products by?

Answers

According to the textbook, knowing which trustworthy manufacturers there are will help buyers make the best decision among the large range of otc items.

A manufacturer is a company or person that creates items, according to the definition. An illustration of a sneaker manufacturer is the business that creates a certain brand of sneakers.

Who is known as the manufacturer?

A manufacturer is a person or business that creates finished products from raw materials using a variety of tools, equipment, and procedures, and then sells the products to consumers, wholesalers, for the production of more complex products, distributors, merchants, or other producers.

To know more about manufacturer

https://brainly.com/question/26320301

#SPJ4

To pursue goals such as social justice, social work research must inform direct practice, as well as influence and inform policy practice. this requires social workers to?

Answers

Conduct research that will influence policy makers and the general public to make changes in policy.

Social Workers
A social worker is someone who dedicates their career to enhancing the quality of life for people, families, and communities through counseling, advocacy, and reporting. Social workers may offer direct counseling to families and communities, speak up for them before community groups or other health care providers, or aid clients in navigating the legal system by testifying in court or offering support as necessary. In other words, social workers are dedicated to assisting people in improving their lives. Finding your specialty in the field of social work is as easy as identifying your areas of interest because there are numerous career routes available. You could, to name a few, work with children and families, communities, in health care settings, or rehabilitation facilities.

To learn more about Social Workers
https://brainly.com/question/24715864
#SPJ4

When a project manager first recognizes that a project is in trouble, the options available to her include ____.

Answers

When a project manager first recognizes that a project is in trouble, the options available to her include delaying the project deadline.

What is Project Management?

In order to give individuals something of value, project managers use specific knowledge, abilities, methods, tools, and techniques. Buildings, delivering aid after a natural disaster, increasing sales in a new market, and creating software for more efficient business operations are just a few examples of projects.

Every project is an immediate endeavor to add value by delivering a unique good, service, or result. There are beginnings and ends to every project. The team has a team, a budget, a schedule, and a set of guidelines that they must follow. Each project is unique and ends when the desired result is achieved, as opposed to ordinary operations, which represent an organization's ongoing activity.

Project professionals—individuals tasked with making sure a project team achieves its objectives—are in charge of these projects. To address the needs of a project, project professionals employ a wide range of tools, techniques, and methodologies.

To lean more about Project Management from the given link.

https://brainly.com/question/6500846

#SPJ4

A major reason that decision making is often not such a rational process is that there are:______.

Answers

The fact that there are too many steps in the decision-making process for most individuals to handle is a big factor in why decision-making is frequently not such a reasonable process.

The opposite of intuitive decision-making is rational decision-making. It follows a rigid process based on logic and objective information. It entails identifying the issue that needs to be resolved, collecting data, identifying options and outcomes, analyzing them, taking into account all the connections, and making a decision. Fundamentally, decisions are the outcome of certain thought processes. Good judgments are frequently deemed reasonable even when they are not always conclusions of the inferences or alternatives best valued according to relevant criteria in a context. The information that decision-makers do have is frequently inaccurate and incomplete, and they do not have access to all information that may be important to the choice. Decision-makers have weak computational and analytical skills.

Learn more about decision-making:

https://brainly.com/question/13244895

#SPJ4

A company pays one year of rent in advance on january 1. on january 31, the company will record an adjusting entry that will:________

Answers

If a company pays one year of rent in advance on january 1. on january 31, the company will record an adjusting entry that will: Decrease assets and increase expenses.

Adjusting journal entry

Assuming company pays one year of rent in advance on january 1  which means that on january 31, the company will record an adjusting entry that will Decrease assets and increase expenses.

The adjusting journal entry for a prepaid expense will tend to decreases assets (Prepaid Rent) and as well  increases expenses (Rent Expense).

Therefore on january 31, the company will record an adjusting entry that will: Decrease assets and increase expenses.

Learn more about adjusting entry here:https://brainly.com/question/13035559

#SPJ1

In practice, most companies list accounts on their trial balance in alphabetical order. True or false?.

Answers

The given statement is false. In practice, most companies don't list accounts on their trial balance in alphabetical order.

What is trial balance?

A trial balance is a list of every general ledger account in a company's ledger. Each nominal ledger account's name and current balance amount will be listed in this list. In each nominal ledger account, there will be a debit balance or a credit balance.

Most businesses put them in this order:

AssetsLiabilitiesEquity of StockholderDividendsRevenues, andExpenses

To know more about trial balance, go to URL

https://brainly.com/question/24914390

#SPJ4

Supply is said to be ____________ when the quantity supplied is very responsive to changes in price.

Answers

Supply is said to be more elastic when the quantity supplied is very responsive to changes in price.

What is Price elasticity?

The quantity demanded of a good or service divided by the percentage change in price is the price elasticity of demand. The percentage change in quantity supplied divided by the percentage change in price represents the price elasticity of supply.Perfectly elastic, elastic, perfectly inelastic, inelastic, and unitary are the five major categories into which elasticities can be effectively categorised.Price elasticity quantifies how responsively a good's supply and demand are to changes in price. It is calculated by dividing the percentage change in quantity provided (or required) by the percentage change in price.Price elasticity of demand is a measurement of the change in consumption of a product in relation to a change in its price.

To know more about Price elasticity visit:

https://brainly.com/question/15417641

#SPJ4

In a large business, the _____ department makes sure that all the computer operations, mobile devices, and networks run smoothly.

Answers

In a large business, the information technology department makes sure that all the computer operations, mobile devices, and networks run smoothly.

What is the definition of information technology?

Information technology (IT) is the creation, processing, storage, secure transmission, and exchange of all forms of electronic data. IT includes the use of computers, networking, storage, and other physical devices.

With the aid of hardware and software networks, workstations, and storage devices at lower costs, information technology makes it possible to store and retrieve large amounts of data fast. With the use of information technology, data may be combined and configured to provide distinctly new information that facilitates making decisions quickly.

Therefore, in a large business, the information technology department makes sure that all the computer operations, mobile devices, and networks run smoothly.

Learn more about technology on:

https://brainly.com/question/25110079

#SPJ1

With all the money they could potentially win, the game show contestants were __________ to start playing.

Answers

The fill in the blanks is eager

A participant in a game or competition is referred to as a contestant. Many beauty pageants require their competitors to perform a skill, such as singing or dancing, in addition to being attractive. A contestant is a participant in a competition or someone who challenges an individual or an award. According to the case of Re Interest of LW v., a contender in a child custody dispute is "a person, including a parent, who claims a right to custody or visitation of a child." A contestant is a person who participates in a game or competition.

To know more about show contestants refer to https://brainly.com/question/16879796

#SPJ4

Frank's furniture imports, inc. imports children's bedroom furniture from china and sells it wholesale to furniture retailers. what kind of wholesaler is this business?

Answers

Children's bedroom furniture is imported from China by Frank's Furniture Imports, Inc. and sold in bulk to furniture stores. A limited-line wholesaler, this company.

Compared to well known products wholesalers, constrained line wholesalers buy and promote a smaller choice of goods. as an example, they could just distribute food, clothing, or electronics. Wholesalers of area of expertise lines provide the maximum confined variety of merchandise.

constrained strains may be observed in locations like supermarkets, area of expertise stores, and catalog showrooms.

Small provider best positive capabilities precise to their needs are executed by means of wholesalers.

A wholesaler often buys the product directly from the manufacturer or sells it himself. The wholesaler makes his very own selections on the goods and services he sells.

As a end result, a wholesaler who solely sells digital devices, like smartphones, is known as an electronics wholesaler, whereas a wholesaler who sells a wide sort of items is referred to as a widespread products wholesaler.

Learn more about wholesalers:

https://brainly.com/question/15561836

#SPJ4

A surprising recommendation regarding organizational requirements for innovation is __________.

Answers

A surprising recommendation regarding organizational requirements for innovation is put technology ahead of strategy

What is innovation?

The term innovation refers to creating a new idea of accomplishing task. The new idea us usually beneficial to the people or organization that will use it. Innovation is a necessary skill to maintain operational excellence in an organization.

Managers should be innovative enough to lead their subordinates and inspire them towards being innovative too. As collective innovation will be beneficial to the organization. It is therefore recommended that organizations require innovation to put technology ahead of strategy.

Read more on innovation here: https://brainly.com/question/19969274

#SPJ1

complete question

A surprising recommendation from the disruptive innovation cycle​ is:

A. put marketing ahead of strategy.

B. always put strategy first.

C. put technology ahead of strategy.

D. innovate once and forget it.

E. put marketing ahead of technology.

Other Questions
_____ help/s teach managers about important ethical issues and help/s them find the proper responses to those ethical issues. In a bike race, drake drove his bike over the 1500 meter course from start to finish in 50 seconds. what was his average speed during the race? A variable that is hypothesized to vary depending on the influence of another variable is called a(n):_________ How many quarts of pure antifreeze must be added to 6 quarts of a 20% antifreeze solution to obtain a 60%antifreeze solution? (Hint: pure antifreeze is 100% antifreeze.)... Over the last 100 years, real per capita gdp in the us has been multiplied by approximately:_______ as the first step in solving 3x-1=8, Stella multiplies by 1/3 on both sides. what advice would you give her about the procedure for solving equations Identify the hormone abbreviations and classify them by their main target organs. The surface of the nucleus is bounded by two phospholipid bilayer membranes, collectively called the. Economists assume that rational behavior is useful in explaining choices people make. - James Strobridge did not think Chinese immigrants would makegood workers. How were his stereotypes of Chinese workersdifferent from reality? Physical activity and exercise typically lead to What is the relationship between the amount of deflection and the mass of the isotope. Coasters and trivets are easy to create, and they make great gifts. All you need for this simple DIY project are pieces of cork, a template, a mat cutter, a pen, scissors, and a flat work surface. Start by choosing a template shape, such as a star. Trace the template onto the cork. Cut out the shape with the mat cutter. Voil! You have a cork star that can be used as a coaster or a trivet. Who is the primary audience? people who need new coasters crafters interested in quick and useful projects shoppers looking for gift ideas crafters who want to start a new hobby Submit You have been working at a manufacturing site but have beentransitioned to a different part of the site with new responsbilities. Whenshould your employer train you on any chemical hazards in this newresponsibility? Tay-sachs disease results from a build up of lipid waste in nerve cells. the organelle in these cells that is lacking a specific type of lipid-digesting enzyme :____________. Yo ___________________________ a mis abuelos. (visitar - near future verb)voy cocinovoy a visitarvoy a cocinovoy visitar Exercise 1 Circle the prepositions in each sentence. Sentences can have more than one preposition. If the sentence has no prepositions, circle nothing. In 1967 Clemente achieved his highest batting average of .357. I need a letter to R.j Palacio about her book wonder Some proteins do indeed need assistance during the folding process. the general term used for the proteins that help other proteins fold is:______. diagram for terrestial weather