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3 years ago

Changes in the national incomes of our trading partners would directly impact our:

1 answer:

6 0

The changes would directly impact our Exports.
When the national income of our trading partner increased, the purchasing capabilities that they have would also be increased.
Which means that we could sell a lot more product to that partner (increasing the export)

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"Ayres Services acquired an asset for $80 million in 2021. The asset is depreciated for financial reporting purposes over four y

Zepler [3.9K]

a. The cumulative temporary book-tax difference for the depreciable asset are as follows:

December 31, 2021 = $60 million

December 31, 2022 = $40 million

December 31, 2023 = $20 million

December 31, 2024 = $0

b. The balance to be reported in the deferred tax liability account are as follows.

December 31, 2021 = $15 million

December 31, 2022 = $10 million

December 31, 2023 = $5 million

December 31, 2024 = $0

Explanation:

Note: See the attached excel file for the calculation of cumulative temporary book-tax difference for the depreciable asset and the balance to be reported in the deferred tax liability account for December 31 of years 2021, 2022, 2023 and 2024 in bold red color.

In the attached excel file, the following formula are used:

Cumulative Temporary differences at December 31 of the current year = Cumulative Temporary differences at December 31 of the previous year + (Depreciation on the tax return at December 31 of the current year - Depreciation on the income statement at December 31 of the current year)

Balance to be reported in deferred tax liability account at December 31 of the current year = Cumulative Temporary differences at December 31 of the current year * Tax rate

8 0

3 years ago

Physical capital differs from raw materials in the sense that raw materials A. have a longer useful life in production B. are co

Komok [63]

Answer:

D. are used up in production

Explanation:

Raw materials can be seen as the "ingredients" required to produce a good and, thus, are consumable (used up in production). Physical capital refers to lasting goods that are assist the production process like buildings or machinery and are not consumable.

4 0

3 years ago

A farmer raises wheat and pays a portion of it as a tax that is collected by government agents and sent to a central storage fac

Olegator [25]

Answer:

REDISTRIBUTION

Explanation:

Redistribution of assets and income can be defined as social mechanism like taxes, education, healthcare, government services, political reform, fiscal policy, confiscation, separation or tort rule is the redistribution of wealth and income from some persons to others.

The phrase's meanings differ, based on private experiences, political philosophies and limited statistical usage. In politics, it is often said, probably referring to supposed transfers of wealth from those with more to those who have less.

3 0

4 years ago

Question 2 of 10

son4ous [18]

It should be noted that a benefit of contributing to a retirement account is A. The amount of income that's taxable is reduced.

<h3>What is the benefit of retirement account?</h3>

It should be noted that employee contribution can help in reducing taxable income.

Contributions and investment gains won't be taxed until they're distributed.

Therefore, the benefit of contributing to a retirement account is the amount of income that's taxable is reduced.

Learn more about retirement on:

brainly.com/question/25707827

6 0

3 years ago

William Corporation has a contract with the labor union which guarantees its workers pay for at least 40,000 hours every quarter

geniusboy [140]

Answer:please refer to the explanation section

Explanation:

direct labor hours = 39000 hours

Finished Goods = 13000 units

direct labour hours per unit = 3 hours

Direct Labor cost per hour = $12

Direct Labor Cost = 13000 units x 3 hours x $12 = $ 468000.

William corporation will pay $480000 (40000 x $12) as per the contract agreement with labour union but Direct Labor cost to be capitalized on Cost of Finished Goods is $ 468000. The cost of $ 12000 should be treated as an expense

3 0

3 years ago