Answer:
Tell her that it will take a very long time
Explanation:
Answer:
The correct answer is PV = $800 + $500/1.06 + $500/1.062 + $500/1.06^3
Explanation:
Solution
Given that:
A price was wan by you today at =$800
For the next three years =$500 a year
Now
We compute for the present value of today at 6%
Thus
Present value (PV) = $800 + $500/1.06 + $500/1.062 + $500/1.063
Because $800 is receivable today, its present value is equal to $800,
So,
500 receivable after a year will be divided by 1.06
PV = $800 + $500/1.06 + $500/1.062 + $500/1.06^3
Therefore the right formula for computing the present value as of today at 6 percent is PV = $800 + $500/1.06 + $500/1.062 + $500/1.06^3
Answer:
<h2>PUBLIC COMPANY </h2><h3 /><h3>A Public Company is owned and traded publicly on the stock exchange.</h3>
<h2>PRIVATE COMPANY </h2>
<h3>A Private Company is owned and traded privately</h3>
Translation
At a shipbuilding and repair company, products are subject to VAT, and VAT is calculated according to the withholding PP. Enterprises import welding rods directly from Kim Tin Co., Ltd.
In the period, there are documents as follows: Deduction of opening balance: KT421 - 2.5 welding rod: 400kg x 19,000 VND/kg Welding rod KT421 - 3.0: 1,200kg x 19,000 VND/kg Welding rod KT6013 - 4.0 : 500kg x 18,800 VND/kg Welding rod GL48 -5.0: 700kg x 20,000 VND/kg
* During the period, there were arising economic transactions as follows:
1. Buying KT421 - 2.52 welding rod .000 kg stocked, unit price excluding VAT% 19,500 VND/kg, unpaid. The cost of loading and unloading is 100 VND/kg, paid in cash.
2. Welding rod KT6013 - 4.0 1,500 kg imported, unit price excluding VAT 10% 19,300 VND/kg, cost before warehousing is 100 VND/kg, not yet paid to seller and loader.
3. Welding rod GL48 -5.0 500 kg in stock, unit price excluding VAT 10% 21,000 VND/kg, unpaid. Shipping cost is 500 VND/kg, paid in cash for the Supplier.
4. Export 1,600kg KT421 - 2.5 welding rod, 500kg KT6013 - 4.0 welding rod for SG125 shipbuilding
5. KT421 - 3.0 welding rod for SG130 shipbuilding is 500 kg; 50 kg used for repair workshop.
Answer:
$35 million
Explanation:
First, there is one typographical in the narration of the question in the last paragraph. The correct year is 2018 not 2013. Therefore, the correct full question is as follows:
At December 31, 2018, the account balances of Dowling, Inc. showed income taxes payable of $38 million and a current deferred tax asset of $60 million before assessing the need for a valuation allowance. The previous year Dowling had reported a current deferred tax asset of $45 million with no valuation allowance. Dowling determined that it was more likely than not that 20% of the deferred tax asset ultimately would not be realized. Dowling made no estimated tax payments during 2018.
(a) What amount should Dowling report as total income tax expense in its 2018 income statement?
Answer and explanation:
From the question, we can obtain the following:
Income taxes payable = $38 million
Deferred tax assets balance = $60 million - $45 million = $15 million
Deferred tax assets valuation allowance = $60 million × 20% = $12 million
Therefore, we can obtain the difference that will be the tax expense for 2018 by posting the journal entries as follows:
DR ($'million) CR ($'million)
Deferred tax assets 15
Tax expense (Difference) 35
Tax Payable 38
Valuation allowance 12
From journal, it can be seen that the difference in the entries is $35 million, and that is the tax expense for 2018.
Therefore, Dowling should report $35 million as total income tax expense in its 2018 income statement.
