Answer:
$14,160,000
Explanation:
Given that,
Pretax accounting income = $52 million
Taxable income = $59 million
Enacted tax rate = 24% for 2021
Tax rate thereafter = 34%
Current portion of income tax expense is determined by the product of enacted tax rate and Taxable income for the period.
Therefore,
Current portion of income tax expense for 2021:
= Enacted tax rate × Taxable income
= 24% × $59,000,000
= $14,160,000
Trust and the effectiveness of work teams are examples of Intangible resources which are typically embedded in unique routines and practices that have evolved and accumulated over time.
Answer and Explanation:
The journal entry is shown below:
Cash $8,730
Sales Discount ($9,000 × 3%) $270
To Accounts receivable $9,000 ($10,000 - $1,000)
Here cash and sales discount is debited as it increased the assets and discount while on the other hand the account receivable should be credited as it reduced the assets
C :) i say this because it sounds more realistic
