If a taxpayer suffers a loss attributable to a disaster in an area subsequently declared a disaster area, the casualty loss may be deducted in the year preceding the year in which the loss actually occurs.
Answer the following statement true (T) or false (F)
True
A special carryback election is allowed if the loss is attributable to a disaster occurring in an area declared by the President of the United States as a disaster area.
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What will be an ideal response?
A request for proposal is more than just a request; it's a(n) __________ that provides potential bidders with the information they need to create effective proposals.
Fill in the blank(s) with the appropriate word(s).
Lake Erie Company uses a plantwide overhead rate with machine hours as the allocation base. Next year, 600,000 units are expected to be produced taking 0.75 machine hours each. How much overhead will be assigned to each unit produced given the following estimated amounts?Estimated:Department 1Department 2Manufacturing overhead costs$3,107,500 $1,520,000 Direct labor hours 150,000DLH 250,000DLHMachine hours 250,000MH 175,000MH
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Urban, Inc provides the following data
Urban, Inc Comparative Balance Sheet Year Ended Dec. 31, 2017 Assets Current Assets: Cash and Cash Equivalents $29,000 Account Receivable, Net 31,000 Merchandise Inventory 53,000 Total Current Assets $113,000 Property, Plant, and Equipment, Net 120,000 Total Assets $233,000 Liabilities Current Liabilities: Accounts Payable $4,300 Notes Payable 2,900 Total Current Liabilities $7,200 Long-term Liabilities 84,000 Total Liabilities $91,200 Stockholders' Equity Common Stock $37,000 Retained Earnings 104,800 Total Stockholders' Equity $141,800 Total Liabilities and Stockholders' Equity $233,000 Calculate the debt to equity ratio. (Round your answer to two decimal places.) A) 0.39 B) 0.05 C) 1.24 D) 0.64