Bhupatbhai Problem 2-8 Calculating Additions to NWC [LO4]The 2020 balance sheet of Dugan, Incorporated, showed current assets of $3,160 andcurrent liabilities of $1,560. The 2021 balance sheet showed current assets of $3,090and current liabilities of $1,560. What was the company's 2021 change in net workingcapital, or NWC? (A negative answer should be indicated by a minus sign. Do notround intermediate calculations.)Change in NWC

Working capital is ability of the company to pay short term liabilities of company. Working capital…

Answered: The 2020 balance sheet of Dugan,…

Individual Income Taxes

43rd Edition

ISBN:9780357109731

Author:Hoffman

Publisher:Hoffman

Chapter13: Tax Credits And Payment Procedures

Section: Chapter Questions

Problem 25P: LO.2 Oak Corporation has the following general business credit carryovers. If the general business...

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QUESTION 44 On January 1, 2020, Smith Company signed a ten-year Note for the acquisition of equipment. Annual note payments of $22,000, based on an interest rate of 10% are to be made every December 31, beginning with December 2020. The present value of the note payments is $135,180. Required: Indicate the effect of the following on the company's accounting equation. Indicate each account title affected and the dollar change and whether it increased or decreased. To record the acquisition of equipment on January 1, 2020. Increased the asset cash and liability note payable for $135,180. O Increased the asset equipment and liability note payable for $135,180. Increased the asset cash and liability note payable for $220,000. O Increased the asset leased equipment and liability lease liability for $220,000. QUESTION 45 On January 1, 2020, Smith Company signed a ten-year Note for the acquisition of equipment. Annual note payments of $22,000, based on an interest rate of 10% are to be made…
LO.2 Oak Corporation has the following general business credit carryovers. If the general business credit generated by activities during 2019 equals 36,000 and the total credit allowed during the current year is 60,000 (based on tax liability), what amounts of the current general business credit and carryovers are utilized against the 2019 income tax liability? What is the amount of unused credit carried forward to 2020?
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