Paolo Corp generated the following income/(loss) since it's inception in 2017:   YearIncome/(loss) 2017   (5,000) 2018   7,000 2019   14,000 2020   (20,000)   If Paolo generates $4,000 of income in 2021, what is the NOL carryforward to 2022?   a.$3,200 b.$20,000 c.$800 d.$0 e.$4,000

10 Antignolo Enterprises, Inc. (a corporation) reported the following information for 2020. Don't consider any other information. Antignolo will pay Federal Income Tax on: Sales $ 380,000 Cost of goods sold $ Operating expenses $ Interest Expense Dividend income $ 250,000 a. $ b. $ 45,000 85,000 15,000 73,000 $ c. $ d. $ 44,000 28,000 130,000 33,500 Dividends paid $ 10,000 e. $ Net Income $ 33,500

Target entered fiscal 2019 with a total capitalization of 21898 million. In 2019, debt investors received interest income of $875 million. Net income to shareholders was 8,648 million (assume a taxe rate of 21%) calculate the economic value added assuming its cost of capital is 10%

4. PG Merchandising, a general partnership earned a net profit of P98,000 for the calendar year 2020. The capital account of the partners for the year ended December 31, 2020 is shown below: Pinto Capital (Mar 1) P25,000 (Jan 1) P150,000 (Nov 1) P37,000 (Jul 1) 50,000 (Oct 1) 50,000

What amount of residual income did National Co. have?

Rhodes Corporation: Income Statements for Year Ending December 31(Millions of Dollars)      2020         2019Sales    $    11,000         $    10,000Operating costs excluding depreciation        9,618             8,730Depreciation and amortization        370             330    Earnings before interest and taxes    $    1,012         $    940Less interest        280             200    Pre-tax income    $    732         $    740Taxes (25%)        183             185Net income available to common stockholders    $    549         $    555Common dividends    $    204         $    200Rhodes Corporation: Balance Sheets as of December 31 (Millions of Dollars)      2020         2019AssetsCash    $    650         $    600Short-term investments        230             200Accounts receivable        2,750             2,500Inventories        1,250             1,200    Total current assets    $    4,880         $    4,500Net plant and equipment        3,750             3,500Total assets    $    8,630…

For 2020, Garden Corporation has 800.000 of gross profit from its sales and $410,000 of operating expenses. Garden makes $90,000 of cash charitable contributions during 2020 Inot inchuded in the other amounts). How much of these contributions can it deduct for 2020? (Note that this is for 2020, ie, 25%) O $75.000 O $97.500 $22.500 O $90.000

Net income $70,000, tax rate 25%, and loss from discontinued operations net of tax $5,000. Compute the income before income tax. Your answer This is a required question During 2021, Kamal Co. incurred average accumulated expenditures of $400,000 during construction of assets that qualified for capitalization of interest. The company has two debts outstanding during 2021. the first is a $500,000, 10%, 5- year note payable dated January 1, 2019. the second is a specific construction debt of $300,000, 8%, 3-year note payable dated September 1, 2020. 1- compute the amount of actual interest during 2021. 2- compute the amount of avoidable interest during 2021. Your answer This is a required question

On December 30, 2021, CHERRY Company paid P2,000,000 for the land. On December 31, 2021, the current value of the land was P2,200,000. In January 2022, the land was sold for P2,250,000. Ignoring income tax, by what amount should shareholders’ equity be increased for 2021 and 2022 in current value financial statements? A. 2021 - ₱ 0; 2022 - ₱ 50,000 B. 2021 - ₱ 200,000; 2022 - ₱ 0 C. 2021 - ₱ 0; 2022 - ₱ 250,000 D. 2021 - ₱ 200,000; 2022 - ₱ 50,000

A. 360,000 B. 270, 000 C. 300,000 D. 306,000