Answer:
The Journal entries are as follows:
(i) In 2018,
Income Tax Expense A/c Dr. $24
Deferred Tax Assets A/c ($40 × 30%) Dr. $12
To Income Tax Payable ($120 × 30%) $36
(Being income tax and deferred tax recorded for 2018)
(ii) In 2019,
Income Tax Expense A/c Dr. $45
To Income Tax Payable ($140 × 30%) $42
To Deferred Tax Assets ($10 × 30%) $3
(Being income tax and deferred tax recorded for 2019)
Answer: calculated by dividing total liabilities by net worth.
Explanation:
The debt to equity ratio is used to know how credit worthy a company is. This is gotten by dividing the total liability of a company by the equity of the shareholder.
It should be noted that the debt t equity ratio isn't gotten dividing your assets by liabilities. Therefore, based on the information given above, the answer is A.
Answer:
.A) $1, 920,000
Explanation:
Gross domestic product is the sum of all final goods and services produced in an economy within a given period which is usually a year.
Nominal GDP is the GDP of country using current year prices
Nominal GDP = current year price × quantity
(6000 × 320) = $1,920,000
I hope my answer helps you
Answer:
Bank Reconciliation Statement as of October 31
Particulars Amount Particulars Amount
Balance as per bank $350 Balance as per books $806
Add: Late deposit $433 Less: Returned checks $80
Less: Outstanding check $66 Less: Error recordings $9
($24+$42) ($65-$56)
Reconciled Balance $717 Reconciled Balance $717
