Osprey Corporation, an accrual basis taxpayer, reported taxable income for 2020 and paid $40,000 on its estimated state income tax for the year. During 2020, the company received a $4,000 refund upon filing its 2019 state income tax return. The company filed its 2020 state income tax return in August 2021 and paid the $7,000 state income tax due for 2020. In December 2020, the company received a notice from the state tax commission that an additional $6,000 of income tax was due for 2018 because of an error on the return. The company acknowledged the error in December 2020 and paid the additional $6,000 in tax in February 2021. What is Osprey's 2020 Federal income tax deduction for state income taxes

Instructions: use the following information to construct the 2000 balance sheet and income statement for carolina business machines. round all numbers to the nearest whole dollar. all numbers are in thousands of dollars. be sure to read the whole problem before you jump in and get started. at the end of 1999 the firm had $43,000 in gross fixed assets. in 2000 they purchased an additional $14,000 of fixed asset equipment. accumulated depreciation at the end of 1999 was $21,000. the depreciation expense in 2000 is $4,620. at the end of 2000 the firm had $3,000 in cash and $3,000 in accounts payable. in 2000 the firm extended a total of $9,000 in credit to a number of their customers in the form of accounts receivable. the firm generated $60,000 in sales revenue in 2000. their cost of goods sold was 60 percent of sales. they also incurred salaries and wages expense of $10,000. to date the firm has $1,000 in accrued salaries and wages. they borrowed $10,000 from their local bank to finance the $15,000 in inventory they now have on hand. the firm also has $7,120 invested in marketable securities. the firm currently has $20,000 in long-term debt outstanding and paid $2,000 in interest on their outstanding debt. over the firm's life, shareholders have put up $30,000. eighty percent of the shareholder's funds are in the form of retained earnings. the par value per share of carolina business machines stock is

Location test: question 1 of 54)water is a solvent because itoa. is made of moleculesob. dissolves many substancesc. is a saltd. has a large buffering capacity

When it is 4: 00 a.m. in halifax, it is 1: 00 p.m. in karachi, and when it is 9: 00 a.m. in karachi, it is 5: 00 a.m. in warsaw. mary left halifax to fly to karachi, but she accidentally left her watch on warsaw time. according to mary’s watch, she left halifax at 9: 40 p.m. on monday. the local time when she arrived at karachi was 3: 00 p.m. tuesday. how long was mary’s flight? a. 9 hours, 20 minutes b. 13 hours, 20 minutes c. 14 hours, 20 minutes d. 17 hours, 20 minutes