Krand Corp had been a very profitable company until the current tax year, in which it generated
Question:
Krand Corp had been a very profitable company until the current tax year, in which it generated an NOL because a competitor launched a product that is much better than Krand’s. Krand recognized a deferred tax asset associated with the NOL carryforward, as well as an offsetting valuation allowance that reduced the carrying value of the DTA to $0. If instead the CARES Act applied to the year in which Krand generated its NOL, what would be the likely balance of its valuation allowance?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 63% (11 reviews)
The valuation allowance would have a balance of 0 Because ...View the full answer
Answered By
Ashington Waweru
I am a lecturer, research writer and also a qualified financial analyst and accountant. I am qualified and articulate in many disciplines including English, Accounting, Finance, Quantitative spreadsheet analysis, Economics, and Statistics. I am an expert with sixteen years of experience in online industry-related work. I have a master's in business administration and a bachelor’s degree in education, accounting, and economics options.
I am a writer and proofreading expert with sixteen years of experience in online writing, proofreading, and text editing. I have vast knowledge and experience in writing techniques and styles such as APA, ASA, MLA, Chicago, Turabian, IEEE, and many others.
I am also an online blogger and research writer with sixteen years of writing and proofreading articles and reports. I have written many scripts and articles for blogs, and I also specialize in search engine
I have sixteen years of experience in Excel data entry, Excel data analysis, R-studio quantitative analysis, SPSS quantitative analysis, research writing, and proofreading articles and reports. I will deliver the highest quality online and offline Excel, R, SPSS, and other spreadsheet solutions within your operational deadlines. I have also compiled many original Excel quantitative and text spreadsheets which solve client’s problems in my research writing career.
I have extensive enterprise resource planning accounting, financial modeling, financial reporting, and company analysis: customer relationship management, enterprise resource planning, financial accounting projects, and corporate finance.
I am articulate in psychology, engineering, nursing, counseling, project management, accounting, finance, quantitative spreadsheet analysis, statistical and economic analysis, among many other industry fields and academic disciplines. I work to solve problems and provide accurate and credible solutions and research reports in all industries in the global economy.
I have taught and conducted masters and Ph.D. thesis research for specialists in Quantitative finance, Financial Accounting, Actuarial science, Macroeconomics, Microeconomics, Risk Management, Managerial Economics, Engineering Economics, Financial economics, Taxation and many other disciplines including water engineering, psychology, e-commerce, mechanical engineering, leadership and many others.
I have developed many courses on online websites like Teachable and Thinkific. I also developed an accounting reporting automation software project for Utafiti sacco located at ILRI Uthiru Kenya when I was working there in year 2001.
I am a mature, self-motivated worker who delivers high-quality, on-time reports which solve client’s problems accurately.
I have written many academic and professional industry research papers and tutored many clients from college to university undergraduate, master's and Ph.D. students, and corporate professionals. I anticipate your hiring me.
I know I will deliver the highest quality work you will find anywhere to award me your project work. Please note that I am looking for a long-term work relationship with you. I look forward to you delivering the best service to you.
3.00+
2+ Reviews
10+ Question Solved
Related Book For
Question Posted:
Students also viewed these Business questions
-
What would be the likely effect on the yield to maturity of a bond resulting from: a. an increase in the issuing firm's times interest-earned ratio b. an increase in the issuing firm's debt-equity...
-
In the year in which it intends to go public, a firm has revenues of $20 million and net income after taxes of $2 million. The firm has no debt, and revenue is expected to grow at 20% annually for...
-
What would be the likely consequence of diphtheria infection alone without toxemia?
-
To determine the focal length of a lens, you place the lens in front of a small lightbulb and then adjust a viewing screen to get a sharply focused image. Varying the lens position produces the...
-
You have heard that the actual government deficit for the current year is going to be $30 billion greater than in the past year. Based on this projection, what conclusions can you make regarding the...
-
Use the determinant theorems and the fact that 3 to evaluate each determinant. 4 5 = 3 9 10 3. 1 20 4 50 6 7 90 10 3.
-
Describe the Agile Development Model, its characteristics, and shortcomings.
-
Sea Scout purchased a car wash for $240,000. If purchased separately, the land would have cost $60,000, the building $135,000, and the equipment $105,000. Determine the amount that should be recorded...
-
MacroApps Corporation's disclosure notes for the year ending June 30, 2020, included the following regarding its $0.00000625 par common stock: Employee Stock Purchase Plan-We have an ESPP for all...
-
The accounts receivable clerk for Evers Industries prepared the following partially completed aging of receivables schedule as of the end of business on July 31: The following accounts were...
-
Hwang Inc. had taxable income of $100,000 in 2017, no income or loss in 2018 and 2019, and an NOL of $50,000 in 2020. The applicable tax rate was 40% in 2017 and 25% in 2018 and thereafter. Prepare...
-
Arnold Industries has pretax accounting income of $32 million for the year ended December 31, 2024. The tax rate is 25%. The only difference between accounting income and taxable income relates to an...
-
Determine whether the statement is true or false. If it is true, explain why. If it is false, explain why or give an example that disproves the statement. x? 9 = x + 3 x - 3
-
8. Determine one possible value for x when 0x2 for each of the following. Give answers in simplest exact form. [A6] a. |sinh = sinx, x #23 3/4 b. cos _1131* =sinx c. tan =cotx I
-
A company is planning to purchase and store two items, gadgets and widgets. Each gadget costs $2.00 and occupies 2 square meters of floor space; each widget costs $3.00 and occu pies 1 square meter...
-
Making Decisions with Confidence Intervals Assume you work for Kimberly Clark Corporation, the makers of Kleenex. The job you are presently working on requires you to decide how many Kleenexes are to...
-
How Safe Are You? Assume one of your favorite activities is mountain climbing. When you go mountain climbing, you have several safety devices to keep you from falling. You notice that attached to one...
-
As an example of how simulation can be used for operations research, consider the following college enrollment model. A certain college wants to analyze the effect of admissions and freshman...
-
a. State three factors that contribute to the fact that the noncatalyzed hydrolysis of an ester is a slow reaction. b. Which is faster, hydrolysis of an ester or aminolysis of the same ester?
-
In Problem 8.43, determine the smallest value of for which the rod will not fall out of the pipe. IA -3 in.-
-
International Network Solutions provides products and services related to remote access networking. The company has grown rapidly during its first 10 years of operations. As its segment of the...
-
International Network Solutions provides products and services related to remote access networking. The company has grown rapidly during its first 10 years of operations. As its segment of the...
-
International Network Solutions provides products and services related to remote access networking. The company has grown rapidly during its first 10 years of operations. As its segment of the...
-
A drum contains water and 1,4-dioxane that is left over waste from an electronics cleaning facility. For a mixture of 70 mol% water and 30 mol% 1,4-dioxane in the drum at 35 oC, calculate the...
-
Show what is produced by the following Java code. Assume list is a reference variable of type Sinly LinkedList, and length(), InsertFirst(), insertLast). first(), last(). print() are the methods of...
-
Explore the themes of alienation and dislocation in James Joyce's "Ulysses." How do these themes reflect the modernist perspective on the fragmentation of society and the individual's place within it...
Study smarter with the SolutionInn App