Answer: $4,750
Explanation:
In calculating the deferred tax liability Tringali should use only the Temporary Difference as the Permanent difference is not considered and the temporary difference creates a difference in tax that will be paid later.
Doing that therefore will result in the following,
= 25% * 19,000
= $4,750
$4,750 is the amount that Tringali should report as its deferred income tax liability as of the end of its first year of operations.
I do not see it in the options but it is the correct answer.
The national government frequently uses specific types of grants to obliquely encourage corporate development. An official cash award provided by a federal, state, or municipal government body for a worthwhile enterprise is known as a government grant. It functions as a transfer payment in essence.
Technical help and other forms of financial support, such as loans, loan guarantees, and interest rate subsidies, are not included in grants. The most prevalent types include grants for small businesses, science-related grants, awards for nonprofit organisations, and grants for education.
Each person or organisation must fulfil conditions established by the government in order to be eligible to receive grant monies. Government funding for grants is authorised and appropriated.
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Answer:
Gross profit= $4.75
Explanation:
Giving the following information:
Product Z2:
$2.00 of direct materials
$3.40 of direct labor.
sold for $11.00.
Designated overhead at the rate of 25% of direct labor costs.
Gross profit= sales - direct material - direct labor - manufacturing overhead
Gross profit= 11 - 2 - 3.4 - (3.4*0.25)= $4.75
