In addition, Dexter has a $25,000 NOL carryover from the preceding tax year. What is Dexter's taxable income for the current year?
Dexter Corporation reports the following results for the current year:
Gross income from operations $90,000
Dividends from less than 20%-owned corporations 50,000
Operating expenses 75,000
Charitable contributions 10,000
Gross income (90,000 + 50,000) $140,000
Minus: operating expenses ( 75,000)
Income before special deductions $ 65,000
Minus: charitable contribution ( 4,000)a
dividends-received deduction ( 25,000)
NOL ( 25,000)
Taxable income $ 11,000
a The charitable contribution is limited to $4,000 [0.10 × ($65,000 - $25,000)]. The dividends-received deduction is not limited by the 50% DRD limitation [($65,000 - $4,000) × 0.50 = $30,500].
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A. beating B. alternating C. flighting D. continuous with emphasis E. pulsing
If conditions require that all decision variables must have an integer solution, then the class of problem described is an integer programming problem
Indicate whether the statement is true or false
Polar Corporation's consolidated cash flow statement for the year ended December 31, 20X2, reported operating cash inflows of $100,000, financing cash inflows of $30,000, investing cash outflows of $120,000, and an ending cash balance of $50,000. Polar acquired 60 percent of Snow Company's common stock on April 1, 20X0 at book value. At that date, the fair value of the noncontrolling interest was equal to 40 percent of Snow's book value. Snow reported net income of $30,000, paid dividends of $20,000 in 20X2, and is included in Polar's consolidated statements. Polar paid dividends of $40,000 in 20X2. The indirect method is used in computing cash flows from operations.Based on the information provided, what was the consolidated cash balance at January 1, 20X2?
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Oral Contracts. Samuel DaGrossa and others were planning to open a restaurant. At some point prior to August 1985, DaGrossa orally agreed with Philippe LaJaunie that LaJaunie, in exchange for his contribution in designing, renovating, and managing the
restaurant, could purchase a one-third interest in the restaurant's stock if the restaurant was profitable in its first year of operations. The restaurant opened in March 1986, and a few weeks later, LaJaunie's employment was terminated. LaJaunie brought an action to enforce the stock-purchase agreement. Is the agreement enforceable? Why or why not?