What is an advantage of attending a trade school?

Typical Corp. reported a deferred tax liability of $6,000,000 for the year ended December 31, 2017, when the tax rate was 40%. T

Alex_Xolod [135]

Answer:

Income tax expense (Balancing figure) $13,200,000

To Deferred tax liability (8% × $15,000,000) $1,200,000

To Income tax payable ($30,000,000 × 40%) $12,000,000

(Being the income tax expense is recorded)

Explanation:

The compound journal entry is shown below:

Income tax expense (Balancing figure) $13,200,000

To Deferred tax liability (8% × $15,000,000) $1,200,000

To Income tax payable ($30,000,000 × 40%) $12,000,000

(Being the income tax expense is recorded)

For recording this, we debited the income tax expense as it increased the expenses and at the same time it also increased the liabilities i.e deferred tax liability and income tax payable so it would be credited

6 0

3 years ago

Simpkins Corporation does not pay any dividends because it is expanding rapidly and needs to retain all of its earnings. However

suter [353]

Answer:

The stock will trade for 4.30 dollars in the market

Explanation:

The stock will be valued at the discounted value of their future cash flow.

w calculate the cas flow by multiplying by the grow rate given.

Then we discount using the present value of a lump sum:

$\frac{Maturity}{(1 + rate)^{time} } = PV$

Maturity $0.5000

time 3.00

rate 0.18

$\frac{0.5}{(1 + 0.18)^{3} } = PV$

PV 0.30

Then, for the entire of the dividend after year 6th we use the gordon model:

dividends / (rate - grow) and then we discount that

$\frac{dividends}{return - growh}$

Y# Cashflow Discounted

0 0

1 0

2 0

3 0.5 0.304315436

4 0.825 0.425525822

5 1.36125 0.595014921

6 1.4565375 2.971555503

Total 4.296411682

8 0

3 years ago

Why do southeast asian farmers continue to practice slash-and-burn agriculture and shifting cultivation?

vovangra [49]

For all the technology coming out of China today, its rural community is still very primitive. Farmers in the Western World have found ways to scientifically improve their growing techniques. Crop rotations allow for nutrient rich plants to regenerate the soil every other year. Also letting a field go fallow one years allows for recovery of soil. There are many other ways the West is improving their crops and educating new farmers in agriculture science. However, southeast Asian farmers to do not have access to this technology or sometimes computers/internet. They are using the same techniques that they have for over a thousand years. Until education is available for them or they are taught different they will continue to use the same techniques taught by their father. Even to the detriment of their land.

4 0

3 years ago

To fund your dream vacation, you plan to save $1,475 per year for the next 15 years starting one year from now. If you can earn

muminat

Answer:

FV= $34,993.05

Explanation:

Giving the following information:

Annual deposit= $1,475

Number of periods= 15 years

Interest rate= 6.25%

<u>To calculate the future value, we need to use the following formula:</u>

FV= {A*[(1+i)^n-1]}/i

A= annual deposit

FV= {1,475*[(1.0625^15) - 1]} / 0.0625

FV= $34,993.05

3 0

3 years ago

Pilfer Company acquired 90 percent ownership of Scrooge Corporation in 20X7, at underlying book value. On that date, the fair va

Maru [420]

Answer:

C) $100,000

Explanation:

Based on the information given we were told

that the inventory Purchased by Pilfer from

Scrooge was RESOLD to companies that they are unaffiliated to on December 1, 20X8 for the amount of $100,000 which means that the amount of sales that will be reported in the 20X8 CONSOLIDATED INCOME STATEMENT

will be inventory amount of $100,000 that was resold to the unaffiliated companies.

8 0

2 years ago