Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Please show the answer clearly. thx Coronasux, Inc. had revenue of $500,000, COGS of $375,000, Operating expenses of $50,00 purchase of fixed assets of $85,000,

image text in transcribed

Please show the answer clearly.

thx

Coronasux, Inc. had revenue of $500,000, COGS of $375,000, Operating expenses of $50,00 purchase of fixed assets of $85,000, dividends of $4,000, a loss from discontinued operations $10,000 and an unrealized gain from available for sale securities of $20,000. All of the prece numbers are pre-tax and there is a tax rate of 25%. Based upon these facts (there will be a lot questions with these facts, consider jotting them down): WHAT IS CORONASUX' TAX ON DISCONTINUED OPERATIONS (dont worry about benefit expense, enter as a positive number, i.e. absolute value)? 2,500 Question 21 Coronasux, Inc. had revenue of $500,000, COGS of $375,000, Operating expenses of $50,000, purchase of fixed assets of $85,000, dividends of $4,000, a loss from discontinued operations of $10,000 and an unrealized gain from available for sale securities of $20,000. All of the preceding numbers are pre-tax and there is a tax rate of 25%. Based upon these facts (there will be a lot of questions with these facts, considerjotting them down): WHAT IS CORONASUX' TOTAL TAXES ON THE INCOME STATEMENT (ignoring intra-period ta- allocation; the total tax regardless of what section it sits in)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Students also viewed these Accounting questions

Question

Which diagnostic test is most commonly used to confirm PROM?

Answered: 1 week ago

Question

What is the hallmark clinical feature of a molar pregnancy?

Answered: 1 week ago