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UNO [17]
3 years ago
9

At the end of 2017, Payne Industries had a deferred tax asset account with a balance of $30 million attributable to a temporary

book-tax difference of $75 million in a liability for estimated expenses. At the end of 2018, the temporary difference is $70 million. Payne has no other temporary differences. Taxable income for 2018 is $180 million and the tax rate is 40%. Payne has a valuation allowance of $10 million for the deferred tax asset at the beginning of 2018. Required: 1. Prepare the journal entry(s) to record Payne’s income taxes for 2018, assuming it is more likely than not that the deferred tax asset will be realized. 2. Prepare the journal entry(s) to record Payne’s income taxes for 2018, assuming it is more likely than not that one-fourth of the deferred tax asset will ultimately be realized.

Business
1 answer:
KIM [24]3 years ago
8 0

Answer:

Detailed step-wise solution given in the table attached.

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In two or more complete sentences, compare and contrast making a purchase with a debit card versus making a purchase with a cred
Vlad [161]

Answer:

When you pay with a credit card you use the bank's money that you have to pay back but with a debit card, you are using money straight out of your account. In the end, you are basically using your money just not in the form of paper.

Explanation:

When you pay with a credit card you use the bank's money that you have to pay back but with a debit card, you are using money straight out of your account. In the end, you are basically using your money just not in the form of paper.

3 0
2 years ago
The managers in Julio's company sponsor monthly brainstorming sessions and reward employees with gift cards and recognition when
morpeh [17]

Answer:

Learning.

Explanation:

In this scenario, the managers in Julio's company sponsor monthly brainstorming sessions and reward employees with gift cards and recognition when an out-of-the box idea leads to organizational improvements.

Hence, Julio's company is an example of a learning organization.

A learning organization is one which is typically characterized by creating an enabling environment for growth, training, and development of its employees. This opportunity and incentives help employees to engage in critical and creative thinking, research, and development. Consequently, employees would become more confident, brilliant, intelligent, knowledgeable and professionals in their assigned positions or roles, thus helping the organization to achieve its aim, goals and objectives.

<em>In a nutshell, this ultimately implies that it's very important and necessary that organizations sponsor brainstorming sessions and reward employees awesomely, when an out-of-the box idea leads to organizational improvements.</em>

7 0
3 years ago
How many hours a week should a student plan to study per credit in a 15-week course?.
svet-max [94.6K]

According to credit in a 15-per week course, one must study 2-3 hours a week with a plan. Because 1 credit is equal to ten hours of study, so 3 credits equal to 30 hours per week.

<h3>What are the benefits of studying daily?</h3>

Good studies give a potential to study, and it builds confidence to students to perform better in the academic.

Studying regularly helps to keep the mind sharp and upgrade the ability of the person to gain more knowledge from other students.

Thus, According to credit in a 15-per week course, one must study 2-3 hours a week with a plan.

For more details about  benefits of studying, click here:

brainly.com/question/18850728

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6 0
2 years ago
Hart, an individual, bought an asset for $500,000 and has claimed $100,000 of depreciation deductions against the asset. Hart ha
Naily [24]

Answer

The answer and procedures of the exercise are attached in the following images.  

Explanation  

Please consider the data provided by the exercise. If you have any question please write me back. All the exercises are solved in 2 sheets with the formulas indications.  

4 0
4 years ago
A bank has $8,000 in deposits and $6,000 in loans. it has loaned out all it can given the reserve requirement. it follows that t
True [87]
<span>The reserve requirement, which is also referred to as the cash reserve ratio, is 25 percent. This is calculated by subtracting the $6,000 loaned out from the bank's $8,000 in deposits, yielding a reserve of $2,000. The reserve requirement is calculated by dividing $2,000 by $8,000.</span>
4 0
3 years ago
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