Pinnacle Labs had the following earnings before tax (EBT) history. The tax rate is 35%. . 2018: $1,500,000 2019: $250,000 2020: $350,000 2021: $1,200,000 What is the tax paid in 2021?
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- Assume that the Kelso Company operates in an industry for which NOL carryback is allowed. The Kelso Company had the following operating results: O $22,800. Year 2019 2020 2021 25% What is the income tax refund receivable? O $24,300 O $28,800. Income (loss) 54,000 57,000 (72,000) O 23,550. Tax rate 35% 30% Income tax 18,900first year of operations 17,100 0Eccentricity, Incorporated had $300,000 in 2018 taxable income. Using the tax schedule from Table 2.3, what are the company's 2018 income taxes, average tax rate, and marginal tax rate, respectively? Taxable income Pay this amount on Base income Plus this percentage on anything over the base $0 – $50,000 $ 0 15% $50,001 – $75,000 $ 7,500 25% $75,001 – $100,000 $ 13,750 34% $100,001 – $335,000 $ 22,250 39% $335,000 – $10,000,000 $ 113,900 34%Byron Books Inc. recently reported $15million of net income. Its EBIT was$20.8million, and its tax rate was 25%. What was its interest expense? (Hint: Write out the headings foran income statement, and fill in the known values. Then divide $15million of net income by (1-T)=0.75 tofind the pretax income. The difference between EBIT and taxable income must be interest expense. Usethis same procedure to complete similar problems.)
- 14. Leslie Inc. has correctly determined the following information related to operations for 2018: Revenue from sales Expenses Income before income taxes P7,000,000 4,000,000 P3,000,000 In reviewing the records, you discovered the following items: During 2018, the company discovered an error in depreciation in 2017. The correction of this error, which has not been recorded, will result in an increase in depreciation for 2017 of P200,000. During 2018, the company sustained a loss of P400,000 because of flood, which destroyed its inventory. The company charged retained earnings and credited inventory for P400,000.* 00 Oakdale Fashions, Inc. had $245,000 in 2018 taxable income. Using the tax schedule in Table 23 to calculate the company's 2018 income taxes. (Round your answer to the nearest dollar amount.) Income taxes What is the average tax rate? (Round your answer to 2 declmal places.) Average tax rate What is the marginal tax rate? Marginal tax rate K Prev 3 of 5 Next > be here to search. 近。 F4 F5 F7 F8 F10 てい2 23 4 24 & 5.How much will it owe in taxes ? General accounting question
- Hi expert please give me answer general accountingUse the following information for Ingersoll, Incorporated. Assume the tax rate is 21 percent. 2020 2021 Sales $ 21,049 $ 19,038 Depreciation 2,466 2,574 Cost of goods sold 6,140 6,821 Other expenses 1,406 1,223 Interest 1,155 1,370 Cash 8,721 9,517 Accounts receivable 11,578 13,752 Short-term notes payable 1,764 1,731 Long-term debt 29,330 35,454 Net fixed assets 72,976 77,880 Accounts payable 6,323 6,910 Inventory 20,577 21,952 Dividends 2,429 2,404 For 2021, calculate the cash flow from assets, cash flow to creditors, and cash flow to stockholders. (A negative answer should be indicated by a minus sign. Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.)GoPro's earnings before interest and taxes (EBIT) was $190 million. Assuming GoPro's tax rate is 35%, what is their net operating profit after taxes (NOPAT) for 2014 expressed in millions of dollars? a. 66.5 b. 123.5 c. 256.5 d. 292.3
- Bryon Brooks Inc. recently reported 15 million of net income. Its EBIT was 20.8 million, and its tax rate was 25%. What was its intrest expense?(Hint: Write out the headings for an income statement, and fill in the known values. Then divide 15 million of net income by (1-T)= 0.75 to find the pretax income. The difference between EBIT and taxable income must be intrest expense.Use the following information for Ingersoll, Incorporated. Assume the tax rate is 23 percent. Sales Depreciation 2020 2021 $15,073 $15,036 1,731 1,806 Cost of goods sold 4,329 4,777 Other expenses 981 859 Interest 830 961 Cash 6,172 6,676 Accounts receivable 8,110 9,637 Short-term notes payable 1,240 1,217 Long-term debt 20,530 24,811 Net fixed assets 51,042 54,483 Accounts payable 4,496 4,854 Inventory 14,402 15,358 1,300 1,688 Dividends Prepare a balance sheet for this company for 2020 and 2021. (Do not round intermediate calculations.) INGERSOLL, INCORPORATED Balance Sheet as of December 31 Current assets Assets 2020 2021please answer coorect and complete with all working
