Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. united airline recorded a record $15 billion loss

United Airline recorded a record $15 billion loss due to the pandemic and dramatic decline...

90.2K

Verified Solution

Question

Accounting

United Airline recorded a record $15 billion loss due to the pandemic and dramatic decline in air travel in 2020. The 2017 tax code allows companies to deduct 80% of their pretax income from past operating losses. If United Airline expect to make $3 billion pretax income in 2021, how much is the company's expected income tax in 2021 if its tax rate is 21%?

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Zin AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

Why is it important for auditors to use analytical comparisons such as the ratios in the...

Accounting
Q

How do you explain the rise of the secular modernist reformists in the Middle East during...

Psychology
Q

A conductor with rectangular cross section ha dimension ax 2a x 4a as shown in...

Physics
Q

The velocity of flow of a liquid through an orifice at the bottom of a...

Physics
Q

Wheel 2 has twice the radius of wheel 1 Each is accelerated from rest with...

Physics
Q

0 7 Dependence of intensity of gravitational field E of earth with distance r from...

Physics
Q

Graph each function over the interval 29 2 Identify the characteristics of each function as...

Geometry
Q

The following are selected ledger accounts of Brock inc, At december 31,2022: Brock's income tax...

Accounting
Q

11. Compute the (a) total fixed cost and (b) fixed cost per guest if the...

Accounting
Q

Twilight Corporation acquired End-of-the-World Products on January 1, 2020 for $12,800,000, and recorded goodwill of...

Accounting
Q

Evan participates in an HSA carrying family coverage for himself, his spouse, and two children....

Accounting
Q

o Connor has made deposits of $247.00 into his savings account at the end of...

Finance