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irakobra [83]
3 years ago
8

The temporary difference will reverse evenly over the next two years at an enacted tax rate of 40%. The enacted tax rate for 201

5 is 28%. What amount should be reported in its 2015 income statement as the current portion of its provision for income taxes?
Business
1 answer:
zvonat [6]3 years ago
8 0

The correct answer is A) $392,000.

The amount should be reported in its 2015 income statement as the current portion of its provision for income taxes is $392,000.

To get this number you have to do the correct multiplication. You take the taxable income and multiply it by the enacted tax rate of the year 2015. So it is $1,400,000 x .28 (that is the 28%. The resulted number is $392,000.

This is how the corporation has to prepare the reconciliation for its first operation year.

The other options of the question were B) 560,000. C) 504,000. D) 720,000.

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Which of these is an example of feedback? C. Asking your supervisor to repeat a set of instructions.
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Roland Company began operations on December 1 and needs assistance in preparing December 31 financial statements, including its
uranmaximum [27]

Answer:Incomplete Question, You omitted the values for the following

supplies remaining at year-end: $700

Wages earned by workers but not yet paid at year-end: $500

Explanation:

1. To Record the journal entries required for December, excluding the December 31 year-end adjusting entries.

Cash Paid for prepaid insurance

Date            Account and Explanation     Debit         Credit

1st Dec   Prepaid Insurance                  $24,000

        Cash                                                                    $24,000

Supplies purchased in cash

7th Dec      Supplies                                   $2000

                 Cash                                                                   $2,000

13th Dec     No ENTRY            Roland Co agreed to do but has not done itr yet.

Advance received from ABX

24th Dec      Cash                                       $4,000

                    Unearned Revenue                                        $4,000

2. To Record the December 31 year-end adjusting entries for prepaid insurance,  supplies,  accrued wages, accrued revenue, and  unearned revenue.

Insurance expense

Date            Account and Explanation     Debit         Credit

31st Dec  Insurance Expense                   $1,000

        Prepaid Expense                                                    $1,000

Calculation.24 month insurance policy for $24,000 cash.

Insurance for a month = 24,000/24= 1000

Supplies Expense

Date            Account and Explanation     Debit         Credit

31st Dec  Supplies  Expense                   $1,300

              Supplies                                                     $1,300

Calculation :purchased supplies for $2,000 --supplies remaining at year-end, $700= $1,300

To record Wages earned by workers but not yet paid at year-end: $500

Date            Account and Explanation     Debit         Credit

31st Dec  Wages   Expense                   $500

               Wages Payable                                               $500

Service Revenue from  Telo

Date            Account and Explanation     Debit         Credit

31st Dec  Accounts receivable                 $6,000

               Service Revenue                                            $6,000

calculation=Job Completion at Year-End x received cash  of worth of work for Telo = 60% x 10,000 = %6,000

Service Revenue from  Abx

Date            Account and Explanation     Debit         Credit

31st Dec  Unearned Revenue                 $1,000

               Service Revenue                                                  $1,000

calculation=Job Completion at Year-End x cash in advance to perform work  = 25% x 4,000 = $1,000

3. Journal entry for January

Payment Of wages recorded

Date            Account and Explanation     Debit         Credit

5 Jan  Wages Payable                          $500

  Wages Expense (800-500)                 $300

               Cash                                                             $800

Payments from Telo Recorded

Date            Account and Explanation     Debit         Credit

12 Jan  Cash                                           $10,000            

      Account Receivable                                             $6,000

    Service Revenue(10,000-6000)                          $4,000

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3 years ago
What strategic role has emerged as critical in recent years in large organizations due to cyber attacks?
omeli [17]

Answer:

The correct answer is the option B: Chief Security Officer.

Explanation:

To begin with, a <em>Chief Security Officer</em> or CSO is the most important senior level executive that an organization has in its team whose main purpose is to <em>develop and oversight policies and programs whose primary focus are on the mitigation and reduction of secutiry risk</em> regarding the protection of people, intellectual assets and tangible property.

Secondly, the security of the organization regarding the fact of cyber attacks does have a cooperative inter-connected involvement, where the figure of <em>Chief Information Security Officer</em> appears and combines their function with the CSO. Moreover, the CISO is the one executive inside the organization that <em>focuses to the problems about ensuring information assets in particular</em>.

4 0
3 years ago
What will you need to create a lemonade stand?
ZanzabumX [31]

Answer:

um....

1. u need cups

2.  a container

3. a table

4. paper towels

5. duck tape to hold the stand and i guess the sign

6. a donation cup

7. ur costumers

4 0
3 years ago
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