suppose company has $13 in taxable income after consideration $6 of tax privileges (so, companyis tax sheild = $6). If alternative minimum tax (AMT) is 20%, calculate the minimum tax amount that company should pay.
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Please help me answer it as fast as you can!
suppose company has $13 in taxable income after consideration $6 of tax privileges (so, companyis tax sheild = $6). If alternative minimum tax (AMT) is 20%, calculate the minimum tax amount that company should pay.
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- Rhodes Corporations financial statements are shown after part f. Suppose the federal-plus-state tax corporate tax is 25%. Answer the following questions. a. What is the net operating profit after taxes (NOPAT) for 2020? b. What are the amounts of net operating working capital for both years? c. What are the amounts of total net operating capital for both years? d. What is the free cash flow for 2020? e. What is the ROIC for 2020? f. How much of the FCF did Rhodes use for each of the following purposes: after-tax interest, net debt repayments, dividends, net stock repurchases, and net purchases of short-term investments? (Hint: Remember that a net use can be negative.) Rhodes Corporation: Income Statements for Year Ending December 31 (Millions of Dollars) Rhodes Corporation: Balance Sheets as of December 31 (Millions of Dollars)What amount is payable to a state tax board if the original sales price is $3,000, and the tax rate is 3.5%?Suppose that Blake Companys total pretax difference from a change to FIFO was 100,000 and the company pays a bonus of 5% of its income before income taxes and bonus to employees. If Blake pays an additional bonus | based on the change in income, would it recognize any expense? If so, when and how much?
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- Perkin Corporation has determined that it qualifies for a tax credit in the amount of $120,000. For the current year, it has tax liability before credits of $75,000. It expects at least that amount of tax liability next year. Required: If the excess credit is not refundable but may be carried forward, calculate the value of the credit. Assume Perkins uses a 4 percent discount rate to calculate present value. If the excess credit is refundable, what is the value of the credit?Suppose that you are an individual taxpayer who is self-employed. For the year, you projected a 10% increase from last year's gross receipts of P2,000,000. There is also an 8% increase in total cost and expenses of P900,000. In the first quarter of the year, would you signify your intention to be taxed at 8% optional gross income tax (OGIT)? Justify your answer 2. Debbie Corporation (DC) is one of the leading domestic manufacturers in the country. For the year, it has gross sales of P800,000,000, cost of sales of P160,000,000, and other expenses of P120,000,000. It also earns P500,000 interest income from the bonds it holds in Myanmar. Suppose that you are the Chief Financial Officer (CFO) of DC. Now, choose one (1) action you will take to manage the tax of DC and discuss ittable is given below shows that marginal tax rates for Alejandro Corporation. Taxable income of the company is equal to $44.000. How much will the company pay tax totally?Average tax rate? note: Please show how you compute each of the items.
- Specialty Corp is a cash basis calendar-year taxpayer. The corporation has a 25 percent marginal tax bracket this year. It will receive an additional $5,000 this year if it bills its customers at the beginning of December. But if it bills its customers at the end of December, it will not receive the $5,000 until January of next year. If Specialty Corp’s marginal tax rate next year is estimated to be 15 percent, when would the company most likely bill its customers? Specialty Corp. would bill its customers at the beginning of December. Specialty Corp would bill its customers in the middle of December Specialty Corp would bill its customers at the end of December. It will not matter when the company bills its customers for tax purposesSpecialty Corp is a cash basis calendar-year taxpayer. The corporation has a 25 percent marginal tax bracket this year. It will receive an additional $5,000 this year if it bills its customers at the beginning of December. But if it bills its customers at the end of December, it will not receive the $5,000 until January of next year. If Specialty Corp’s marginal tax rate next year is estimated to be 34 percent, when would the company most likely bill its customers? Specialty Corp. would bill its customers at the end of December. Specialty Corp. would bill its customers at the beginning of December. Specialty Corp. would defer billing its customers until next year. Specialty Corp. would bill its customers in the middle of December.In connection with the previous problem, suppose a certain governmentemployee earns a performance benefit = ₱2,340/month, 13 th Month Pay =₱15,780.43, and he has other benefits amounting to ₱6,000. How much of theadditional earnings will be taxed?
