Answer:
$42,000
Explanation:
Deferred tax liability can be defined as the tax liability which has been due for the current period but has not yet been paid such as installment sales receivable.
Insurance expense of $210,000
Tax rate of 20%
( $210,000 × .20 )
=$42,000
Therefore the amount of the deferred tax liability at the end of 2021 will be $42,000
Complete/Correct Question:
The account that is brought up to date after the closing entries have been journalized and posted is the ____.
A. Sales account
B. Purchases account
C. Capital Stock account
D. Retained Earnings account
Answer:
D, retained earnings account
Explanation:
Retained earnings can be defined as the accumulated income of a firm, that is retained by firm, after a certain period of time. After a certain time could be after the reporting period.
Simply put, retained earnings can be said to be the amount of income that a firm keeps after a period such as declaring financial reports.
The retained earnings is always reported and recorded in the stakeholder's equity and the company's balance sheets respectively. Retained earnings signify or represent how much of its profits a firm has reinvested itself.
Cheers.
Answer:
takeoff
Explanation:
Takeoff is a stage marked by rapid economic growth based upon a few key economic industries or sectors, such as steel, railroads, textiles, and food production. Drive to maturity is a stage where the economy continues to grow and to diversify from the handful of industries that drove growth in the previous stage.
Answer:
a. contact efficiency
Explanation:
Contact efficiency is defined as the way by which businesses cut the number of transactions of stages that exist between a product and the final consumer.
Typically it results in a wide variety of options of goods and services to be available to the consumer in on place.
The consumer finds it easy to get what he is looking for and the supplier has a ready market for his goods.
In the given scenario Foot Locker effectively uses contact efficiency by making the consumer find several different brands of shies. At the same time, for companies that manufacture sneakers, selling through Foot Locker will make it easier to reach a lot of potential buyers.