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xenn [34]
2 years ago
8

In year 1, Heron Corp. has depreciation expense for income statement purposes of $10,000. The depreciation deduction on the tax

return was $14,000. The enacted tax rate is 30%. Heron's pretax income for the year was $80,000, and its taxable income was $76,000. If this is the only difference between pretax income and taxable income, the journal entry to record tax expense for the year would include which of the following entries? a) debit tax expense of $22,800
b) credit deferred tax liability of $4,000
c) debit tax expense of $24,000
d) credit taxes payable of $22,800
e) credit deferred tax liability of $1,200
Business
1 answer:
Alenkinab [10]2 years ago
3 0
C and e , if it’s select more then one
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aliina [53]

Marla will use the formula to find the updated cost.

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Because A2 is budget and A4, A6, A8 and A10 all are expenses. So she has to budget-all expenses.

So option A=A2-A4-A6-A8-A10 is true.

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4 0
2 years ago
Assume the price elasticity of demand (Ed) is 0.4 for gasoline in the long run. Some argue that we need a 50% reduction in gasol
dybincka [34]

Answer:

125%

Explanation:

Price elasticity of demand measures the responsiveness of quantity demanded to changes in price of the good.

Price elasticity of demand = percentage change in quantity demanded / percentage change in price

Let x = percentage change in price

o.4 = 50 / x

x = 125

7 0
3 years ago
Assume the economy is on aggregate demand AD1. The Fed should attempt to raise investment by enough to shift aggregate demand fr
maw [93]

Answer:

AD2 and then to AD3

Explanation:

If the investment is continued to increase by federal reserve it would only be feasible when money creation decreases the interest rate.

The aggregate demand would then be expanded and the aggregate demand curve shifted to the right. The necessary increase in aggregate demand must be such that aggregate shifts in demand curve from AD1 to AD2 to AD3.

3 0
4 years ago
) A price change would have the largest income effect on a A) magazine. B) tablet computer. C) piece of clothing. D) car.
weeeeeb [17]

Answer:

d

Explanation:

A change in price leads to two effects :

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The income effect is the change in quantity demanded as a result of a change in real income which affects the consumes purchasing power.

A car constitutes a very large part of a consumers expenditure due to its cost. Thus, the income effect for a car would be the largest

The substitution effect is the change in demand as a result of change in the price of the good compared to the price of another substitute good.

7 0
3 years ago
The cost of insurance scams totals over ___________ dollars a year
pshichka [43]
Your answer should be 40 million dollars
6 0
3 years ago
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