In the current year, Nighthawk Corporation, a calendar year C corporation, has $5,980,000 of adjusted taxable income and $179,400 of business interest income. Nighthawk has no floor plan financing interest. The business interest expense for the year is $2,392,000. a. Assume that Nighthawk has average gross receipts for the prior three-year period of $28,000,000. Determine Nighthawk's current-year deduction for business interest
Answers
Nighthawk Corporation's current-year deduction for business interest is $663,780.
To determine Nighthawk Corporation's current-year deduction for business interest, we need to consider the limitation imposed by the Tax Cuts and Jobs Act (TCJA). Under the TCJA, the deduction for business interest is limited to 30% of the business's adjusted taxable income (ATI).
In this case, Nighthawk Corporation has adjusted taxable income of $5,980,000 and business interest income of $179,400. Since Nighthawk has no floor plan financing interest, we can deduct the business interest expense directly.
First, calculate the deductible business interest expense by subtracting the business interest income from the business interest expense:
$2,392,000 - $179,400 = $2,212,600
Next, calculate the allowable deduction by multiplying the deductible business interest expense by 30% of the ATI:
$2,212,600 x 30% = $663,780
Therefore, Nighthawk Corporation's current-year deduction for business interest is $663,780.
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Related Questions
Mark receives $400 per week for salary as a sales associate. His quota is $2750 and his commission is 10%. This week, Mark sold $29,000 in merchandise, $1800 of which was returned. calculate his gross pay.
Answers
Answer:
$3,120
Explanation:
A sales quota is the minimum volume a salesperson is expected to move to earn commissions.
Mark's quota is $2750
In the week, mark sold $29,000, but $1,800 was returned. The net sales were: $29,000 - $ 1,800 = $27,200
Mark is a 10% commission. The commissions will be 10% of net sales
=10/100 x $27,200
=0.1 x $27,200
=$2,720
gross pay will be weekly earnings plus commissions
=$400 +$2,720
=$3,120
Which statement is true for a short-term goal?
A.
It is usually complex.
B.
It usually requires one to exert a lot of effort.
C.
It is usually related to the bigger things that you want to achieve.
D.
It usually takes less than a year to achieve.
Answers
Answer:
I would say D because it sounds more reasonable for me
How could you make sure that you are paying yourself first regularly and building up your savings?.
Answers
You make sure that you are paying yourself first regularly and building up your savings as you might start by consistently depositing funds from each paycheck into an account designated for savings before you spend it.
A budgeting technique called "paying yourself first" advises people to put money into their retirement plan, emergency fund, savings account, or other savings vehicle before they do anything else with their money. Ask your employer to divide your direct deposit so that a portion of it goes into your savings account.
The "pay yourself first" budgeting strategy may be helpful if you frequently find yourself in this situation. This tactic ensures that you take action on your savings objectives before spending any of your hard earned money elsewhere by placing them at the top of your financial to-do list.
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Question 10 of 20
What is the difference between a market economy and a command
economy?
A. A market economy is determined by central authority and a
command economy is determined by consumers,
B. A market economy is determined by consumers while a command
economy is determined by both consumers and central authority
C. A market economy is determined by both central authority and
consumers while a command economy is determined by only
consumers
D. A market economy is determined by consumers and a command
economy is determined by central authority,
Answers
Jackie has been selling gold rings for $50 each. her cost for the rings was $25. she learns that another store on the other side of the mall sells gold rings for $40. what information should jackie consider before deciding if she should change her price?
Answers
When adjusting the price of an established product, Jackie should have knowledge of the pricing considerations and strategies
What are the different types of pricing strategies?
There are 4 types of pricing strategies as follows :
Premium pricing strategySkimming pricing strategyValue pricing strategyPenetration pricing strategy.In the aforesaid scenario, Jackie will employ a value pricing approach, in which he will reduce the product's cost in order to attract buyers, hence increasing the product's perceived worth.
Thus,
Pricing strategies information should be considered before introducing any changes in the price of the product.
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When will the Mini Toolbar appear?
when you type text
when you press the Delete key
when you select text
when you first open a file
Answers
Answer:
It is C on edge 2021
Explanation:
Answer:
(c) when you select text
Explanation:
The tool bar appears when you select text to provideoptions depending on what you would like to do with the text.
BRAINLIEST AND 20 PTS!!
Imagine finding out that one of the best-performing administrative professionals whom you manage has been stealing inexpensive office supplies. How would you use your problem solving and critical thinking skills to resolve the problem?
Answers
Answer: Evaluate whether it's actually favoritism. Take the time to review your work ethic and performance details in relation to the favored employee. ...
Speak directly with leadership. ...
Refrain from venting to other employees. ...
Speak up more than once.
Explanation:
Which of the following is likely to shift the supply curve right?
Answers
Answer:
A technological improvement that reduces costs of production will shift supply to the right, so that a greater quantity will be produced at any given price. Government policies can affect the cost of production and the supply curve through taxes, regulations, and subsidies.
What are five things that will shift a supply curve to the right?
changes in non-price factors that will cause an entire supply curve to shift (increasing or decreasing market supply); these include
1) the number of sellers in a market,
2) the level of technology used in a good's production,
3) the prices of inputs used to produce a good,
4) the amount of government regulation, ...
Correct me if this is wrong, Hope this helps
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CORRECT ANSWERS ONLY!
1:After your first two years of college, you earn your master’s degree.
False
True
2:An MBA should only appeal to people who want to run a business.
True
False
3:You only need to get a minor if you think you will want to make a career change later in life.
False
True
4:There are two different kinds of bachelor's degrees, a Bachelor of Science and a Bachelor of Arts.
True
False
Answers
Answer:
1. False
2. True
3. False
4. False
Explanation:
1. Associate degree
2. A masters in business administration would be an asset to someone wanting to run a business
3. A minor is a great way to augment skills
4. There is also a bachelors of fine arts
Woolworth's Co. offers a bonus to its employees based on the company's annual profit. The amount of the bonus for this year is estimated at $32,500 to be paid in January of the following year. The journal entry required on December 31 to record the bond is:
Select one:
a. Debit Unearned Bonuses $32,500; Credit Bonus Payable $32,500
b. Debit Employee Bonus Expense $32,500; Prepaid Employee Bonus credit $32,500
c. Debit Estimated Bonus Payable $32,500; Cash credit $32,500
d. Debit Employee Bonus Expense $32,500; Credit Bonus Payable $32,500
e. You do not have to make an entry in December because the bonus will be paid in January of the next year
Answers
The correct journal entry required on December 31 to record the bonus is: d. Debit Employee Bonus Expense $32,500; Credit Bonus Payable $32,500
The entry records the expense related to the estimated bonus for the year and establishes a liability in the form of a bonus payable to the employees. The debit to Employee Bonus Expense recognizes the expense incurred by the company, and the credit to Bonus Payable establishes the liability for the amount owed to the employees. This entry is made in December to reflect the expense and liability in the appropriate accounting period, even though the payment will be made in January of the following year.
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When Hurricane Andrew passed through Louisiana in the summer of 1992, approximately a quarter of the sugar cane crop was destroyed. Ceteris paribus,
Answers
Ceteris paribus, the decrease in sugar cane crop due to Hurricane Andrew passing through Louisiana in the summer of 1992 would result in an increase in the price of sugar cane.
Ceteris paribus, which means "all other things being equal," if approximately a quarter of the sugar cane crop was destroyed when Hurricane Andrew passed through Louisiana in 1992, there would be a decrease in the supply of sugar cane.
This would result in an increase in the price of sugar cane due to the reduced supply. This increase in price would likely be passed on to consumers in the form of higher prices for sugar and other products made from sugar cane, such as candy and soda. The degree of price increase would depend on the extent of the damage to the sugar cane crop and the availability of substitute products.
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The output effect means that a firm will ______. Multiple choice question. sell more of one input when the price of another input falls and less of that particular input when the price of the other input rises purchase more of one input when the price of another input falls and less of that particular input when the price of the other input rises purchase less of one input when the price of another input falls and less of that particular input when the price of the other input rises purchase more of one input when the price of another input rises and less of that particular input when the price of the other input rises
Answers
Answer: Purchase more of one input when the price of another input falls and less of that particular input when the price of the other input rises
Explanation:
The Output effect is meant to explain what happens when the price of an input changes. If an input price increases for instance, production costs will rise and the company will have to buy less of other inputs to keep costs stable.
Conversely, if the price of other inputs fall, the company will see production costs fall which will enable them to purchase more of inputs which didn't change in price.
Written evidence of the ownership of a piece of property
a
b
Non-verbal contract
Loan Sharking
Deed
c
d
Sublet
Answers
Answer:
Deed
Explanation:
A deed, when duly signed, is a written legal document that confers some property rights to the holder. A signed deed facilitates the transfer of property ownership to the new owner. The deed is written evidence that the signed holder has an interest or right to the property stated in the deed document.
The deed has to be entered into the public records; otherwise, ownership of the property will be vulnerable.
The subject line in an email helps the recipient decide which messages to read and ______________ to read them.
Answers
Answer:
Is it The email subject line helps recipients decide which messages to read and when to read them
Explanation:
It makes the most sense
identifying a problem that potential customers have may lead to a(n) question 1 options: market niche that has not yet been served. potential improvement in an existing product. opportunity for a breakthrough product or process. all of these are correct. none of these are correct.
Answers
Identifying a problem that potential customers have may lead to a(n) market niche that has not yet been served, potential improvement in an existing product, opportunity for a breakthrough product or process. Option d is the correct option.
Identifying a problem that potential customers have allows you to gain an understanding of their needs, wants, and desires. This knowledge can then be used to create a market niche that serves those needs and desires. This niche could be a product or service that has not yet been offered, or the modification or improvement of an existing product or service to make it better suited for a particular customer base.
Additionally, this understanding of customer needs can provide an opportunity to create a revolutionary product or process that has not been seen before, revolutionizing the market and providing a competitive advantage. Option d is the correct option.
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The complete question is:
Identifying a problem that potential customers have may lead to a(n) question 1 options:
a) market niche that has not yet been served
b) potential improvement in an existing product.
c) opportunity for a breakthrough product or process.
d) all of these are correct.
e) none of these are correct.
what are the fundamental tradeoffs in deciding between the market or government providing goods or services?
Answers
The fundamental tradeoffs in deciding between the market or government providing goods or services involve efficiency, equity, and externalities. When markets provide goods and services, they are generally more efficient due to competition and the profit motive, which drives businesses to innovate and improve.
However, markets may not always distribute resources equitably, leading to wealth and income disparities.
In contrast, when the government provides goods and services, it aims to promote equity and reduce disparities. This can result in more accessible services for all, regardless of income. Nevertheless, governments might not be as efficient as markets, as they often lack competition and have bureaucratic constraints.
Another tradeoff is managing externalities - positive or negative side effects of a good or service that impact others. Markets may not efficiently address externalities, leading to overproduction of negative externalities (like pollution) or underproduction of positive externalities (like public education).
Government intervention can help correct these market failures by implementing regulations, taxes, or subsidies.
In conclusion, the fundamental tradeoffs when deciding between the market or government providing goods or services include balancing efficiency, equity, and externalities to create an optimal mix of private and public provision that best serves society's needs.
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Why is it a good idea to be organized in the workplace?
Answers
It is a good idea to be organized in a workplace because an organized workplace will facilitate increased productivity and increased efficiency.
What is workplace?A workplace is described as a place where an employee or a manager carries out projects, tasks, and jobs. It is important to mention that workplaces are the areas that are located inside a building or can be outside an office building.
An organized workplace means that everything in the workplace is kept in its respective places, and everything is very neat and clean. Such an organized workplace will allow the managers and the employees to focus entirely on the work and be more productive and efficient.
It can be concluded that it is a good idea to be organized in a workplace because an organized workplace will facilitate increased productivity and increased efficiency.
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Analysis of Competitors If I launch a new application that tracks waste collection and recycling of useful materials by collaborating with recycling industries such as cloth, glass, e-waste, paper, and so on
1. PEST Analysis 2. Risk Velocity Heat Map 3. Porter Five Forces Analysis 4. Direct Competitor Analysis
5. Perceptual Map 6. Strategic Group Mapping Please provide a detailed response.
Answers
Here is a detailed response to your question about analyzing competitors for your new waste collection and recycling application:
1. PEST Analysis: Conducting a PEST analysis helps you understand the external factors that may impact your business. It stands for Political, Economic, Social, and Technological factors. For your waste collection and recycling application, you would examine how government regulations, economic conditions, social attitudes towards recycling, and technological advancements might affect your business. 2. Risk Velocity Heat Map: A risk velocity heat map allows you to assess the speed at which risks can impact your business and their potential consequences. You can use it to identify and prioritize potential risks related to launching and operating your application. Consider risks such as competition from existing waste collection and recycling apps, legal challenges, market saturation, and technology failures. 3. Porter Five Forces Analysis: The Porter Five Forces analysis helps you understand the competitive landscape in your industry. It examines the bargaining power of suppliers and customers, the threat of new entrants, the threat of substitute products or services, and the intensity of competitive rivalry. Conduct this analysis to evaluate the attractiveness of the waste collection and recycling market and identify potential competitive threats. 4. Direct Competitor Analysis: A direct competitor analysis involves analyzing your direct competitors in the waste collection and recycling app market. Identify other apps that provide similar services and compare their features, pricing, target audience, and market share. This analysis helps you understand your competition's strengths and weaknesses, allowing you to differentiate your application and offer unique value to your target customers. 5. Perceptual Map: A perceptual map is a visual representation that helps you understand how customers perceive different products or brands in the market. It allows you to position your waste collection and recycling app relative to other existing apps. Identify key dimensions that customers consider important, such as user-friendliness, reliability, or sustainability, and plot your app and competitors on the map. This analysis helps you identify any gaps in the market that your app can fill. 6. Strategic Group Mapping: Strategic group mapping helps you understand the competitive dynamics within your industry by grouping competitors based on similar strategies and market positions. Identify the key players in the waste collection and recycling app market and categorize them based on factors like target audience, pricing strategy, or service offerings. This mapping can help you identify potential collaboration opportunities or areas where you can differentiate your app from competitors.
By conducting these analyses, you will gain a comprehensive understanding of your competitors, market conditions, and potential risks. This knowledge will enable you to make informed strategic decisions and position your waste collection and recycling app for success.
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a mortgage company is advertising a 30 year fixed rate mortgage with monthly payments and an apr of 3.0%. what is the effective annual interest rate of this loan?
Answers
The effective annual interest rate of this loan is calculated to be 3.04%
The effective annual interest rate can be determined by the following formula;
effective annual interest rate = [( 1 + i/n)^n] - 1
Here i represents the nominal rate and n represents the number of compounding periods and the ratio i/n represents the monthly interest rate
We can calculate the monthly interest rate as follows;
monthly interest rate = 0.03 / 12
monthly interest rate = 0.0025
Now the effective annual interest rate can be calculated as follows;
effective annual interest rate = [( 1 + 0.0025 )^12] - 1
effective annual interest rate = [(1.0025)^12] - 1
effective annual interest rate = 0.0304
Converting it into percentage;
effective annual interest rate = 0.0304 × 100 = 3.04%
Therefore, the effective annual interest rate of this loan is 3.04% if the APR for the loan is 3%
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Alice has completed a cost-benefit analysis (CBA) of recommended countermeasures.For a specific risk, four countermeasures have been recommended. How can Alice usethe CBA to choose the countermeasure to recommend?A.Choose the countermeasure with the lowest recurring cost.B.Choose the countermeasure with the highest countermeasure value.
C.Choose the countermeasure with the highest projected benefits.D.Choose the countermeasure with a positive countermeasure value
Answers
Alice has completed a cost-benefit analysis (CBA) of recommended countermeasures. For a specific risk, four countermeasures have been recommended.
The option that Alice can use in the CBA to choose the countermeasure to recommend is to Choose the countermeasure with the highest countermeasure value.A cost-benefit analysis is a method used to assess the benefits of a decision or project, taking into account both quantitative and qualitative factors. The goal is to determine if the cost of the decision is justified by the benefits derived from it.CBA is used to assist decision-makers in comparing different alternatives and assessing their costs and benefits in monetary or qualitative terms.
The technique is widely employed in public policy analysis, where the evaluation of the societal and economic costs and benefits of a project is crucial to determine if it should be executed or not. CBA can be used to identify the most cost-effective approach among multiple options. By comparing the projected benefits of each option with its cost, the alternative with the highest net benefit, or countermeasure value, can be identified.The projected benefits of each alternative should include not only quantitative considerations but also qualitative ones, such as the impact on the environment, health, or social welfare.
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1. Use a formula to calculate the percentage of expenses for the 2013 summer budget that was spent on rent for the event. Write the formula you used and the percentage you calculated, to two decimal places, in the cell below. Hint: Use order of operations principles for the formula. (5 points)
2. A closer estimate of the total cost can be made by including the estimated sales tax. Use a formula to calculate the estimated cost for July 2014 using 7% sales tax. Then, write the formula you used and the estimated cost in the cell below. Hint: Convert 7% into a decimal for the formula. (5 points)
3. Current data can be used to predict future costs. Based on the budget for the last three summers, predict the amount of money that will be sponsored for each event in 2015. Write your prediction in the cell below, and explain how you arrived at your conclusion. Be sure to use currency formatting for the monetary amount. (5 points)
4. Based on the budget for the last three summers, predict the website hosting fee for August 2015. Write your prediction in cell A21, and explain how you arrived at your conclusion in cell A22. Be sure to use currency formatting for the monetary amount in cell A21. (5 points)
Answers
The formula that can be used to calculate the percentage of expenses from the budget will be (the amount spent on event × 100) / total expenses.
How to compute the formula?From the information given, the formula that can be used to calculate the percentage of expenses will be:
= (the amount spent on event × 100) / total expenses. The month of June will be:
= (195 × 100)/297
= 65.66%
The estimated cost for July 2014 using 7% sales tax will be:
= 360 + (7% × 360)
= $385.20
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Marketing and distribution system of Sole proprietorship
Answers
Answer:
Direct selling;
Selling through intermediaries;
Dual distribution; and.
Reverse channels.
Explanation:
1. Do you believe E-sports will continue to grow in the future? Why or why not?
Answers
Answer: I don’t really know but I think it will still be popular and lots of people will still play no matter what
Answer:
In terms of video games, yes. Because, everyone can play videogames, but not everyone can compete in physical sports.
Explanation:
I don't need to give an explanation since it's my opinion. So don't report this answer please...
Explain Jodi's self esteem throughout Tall Girl? Movie
Answers
Answer:
Poor
Explanation:
Jodi is very self-concious about her height. She thinks that it makes her different than other "normal" people among her peers, or even inferior to more feminine, smaller girls.
Answer:
Explanation:
'Tall Girl' Review: A Ridiculous Take on the Teenage Self-Love Narrative ... This week, we gave our group of interns a challenge: pick a movie from ... narrates Jodi (Ava Michelle) as she towers over a high school hallway in Tall Girl. ... Pain is relative, but Tall Girl treats Jodi's height as if it were the end-all,
А ________
is a number of connected activities that accomplish a course of action
campaign
contest
commission
Answers
Answer:
commisom is the answer to your question
Wealth generating activities always:
a. produce positive externalities to society
b. produce gains for one party
c. increase wealth for everyone
d. Increase total surplus
Answers
Answer:
d. increase total surplus
Explanation:
Wealth generating activities always increase total surplus.
Surplus occurs when the available resources, goods, assets, etc., exceeds what is currently used. In other words, it simply means when supply exceeds demand.
Wealth creating activities makes wealth almost in every hand, thereby an increase in total surplus occurs. If wealth creating activities occur in manufacturing, it leads more companies to produce more, thereby total surplus in production occurs.
3. ______ are defined as goods or services that are required for health and safety.
Answers
Occupational Health and Safety are defined as goods or services that are required for health and safety. Information standards are guidelines governing the information that must be provided to consumers when they purchase specific goods.
What is the safety of goods?A safe product is one that delivers either no risk or a minimum tolerable level of risk, taking into account the product's typical or reasonably foreseeable use and the need to maintain a high level of consumer protection.
Occupational health and safety is a multidisciplinary discipline that deals with all elements of workplace health and safety, with a heavy emphasis on preventing workplace dangers.
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Analyze why the scenario below fails to meet the criteria for a SWOT analysis:
The farming co-op determines that it needs to borrow $100,000 for new equipment to plant cherry orchards. The FFA (Future Farmers of America) is eager to help with the planting. However, the price of farmland has increased astronomically in the past five years as suburbanites have moved farther into the country.
Answers
Answer:
i am looking for it.
Explanation:
suppose+the+irr+of+a+potential+investment+is+17.65%.+if+the+company+considering+the+investment+uses+a+marr+of+18%,+would+you+recommend+the+project?
Answers
Based on the information provided, I would not recommend the project as the IRR (17.65%) is lower than the MARR (18%).
The Internal Rate of Return (IRR) is a measure used to assess the profitability of an investment. In this case, the IRR of the potential investment is 17.65%. The Minimum Acceptable Rate of Return (MARR) is the minimum rate of return required by the company to undertake the investment. In this scenario, the MARR is 18%. Since the IRR is lower than the MARR, it indicates that the project's return is not sufficient to meet the company's required rate of return. Therefore, based on these figures, I would not recommend proceeding with the investment.
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You have commissioned a local survey to see what consumers are most interested in.
Survey Data
78% of survey participants desire a store that offers custom outdoor sports equipment.
9% of participants think an additional coffee shop is needed.
26% of participants say that they purchase coffee on a daily basis.
Based on the survey data, what can be concluded about the market for coffee shops in the area?
According to the survey data, which business likely has the least supply in this town?
Answers
Based on the survey data, what can be concluded about the market for coffee shops in the area?
Saturation has been reached.
According to the survey data, which business likely has the least supply in this town?
Shoe stores
Answer: Based on the survey data, which business will most likely see higher consumer demand? - THE SHOE HUT
Based on the survey data, what may occur if an additional coffee shop is opened? - EXCESS SUPPLY
Explanation: i did the assignment on edge