1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
antiseptic1488 [7]
2 years ago
15

West Corp. leased a building and received the $36,000 annual rental payment on June 15, 2004.

Business
1 answer:
Shtirlitz [24]2 years ago
3 0

Answer:

$7,200

Explanation:

West should recognize 6 months of rent during 2004 = $36,000 x 6/12 = $18,000

So West will recognize the remaining $18,000 in rent during 2005, but it decided that the operation will be taxed completely during 2004.

Since the future taxable income will be less than the future pre-tax accounting income be $18,000, then they must report a deferred tax asset = $18,000 x 40% = $7,200

The current tax rate is lower than the future tax rate, but West has to record its tax asset based on the future tax rate, not the current one.

You might be interested in
Credit offered in the form of ____________ is most common in department and clothing stores and other high-volume outlets, where
GuDViN [60]

Answer:

retail charge cards

Explanation:

A credit card can be defined as a small rectangular-shaped plastic card issued by a financial institution to its customers, which typically allows them to purchase goods and services on credit based on the agreement that the amount would be paid later with an agreed upon interest rate.

Hence, the use of credit cards by consumers broadens a small company's customer base.

This ultimately implies that, small businesses or companies who avail their customers the opportunity to pay using a credit card will increase the number of customers that would patronize them because they are typically buying the goods and services on credit.

Generally, there are three (3) main types of credit card and these includes;

I. Debit card.

II. Prepaid card.

III. Retail charge cards.

A retail charge card can be defined as a type of credit card commonly issued by retailers to their customers in order to avail the customers an ability to charge their goods and services to a specific amount that has been established prior to a purchase.

Hence, it is most common in merchant department, car rental firms, oil companies, clothing stores and other high-volume outlets, where customers are likely to make several purchases each month.

5 0
2 years ago
Dock Corporation makes two products from a common input. Joint processing costs up to the split-off point total $33,600 a year.
Inga [223]

Answer:

The financial disadvantage for the company is 3,500

Explanation:

Computation is Shown Below;

Sales Value at split-off Point = 24000

Subtract: Allocated joint Cost =<u> 16800</u>

Profit if sold at split-off point = 7200

Sales Value after processing = 35500

Subtract: Allocated joint Cost = 16800

Sub: Cost of further processing <u>= 15000 </u>

Profit if Processing further = 3700

Financial Disadvantage = 3700 - 7200 = (3500)

5 0
3 years ago
Read 2 more answers
Price controls can cause _____.
shtirl [24]
Price control causes shortages and surpluses depending on whether it is the maximum or minimum price control. if it is maximum, there will be surpluses and if it is minimum, there will be shortages due to how much people can afford.
4 0
2 years ago
Read 2 more answers
Rubbermaid allows employees to spend a percentage of their working time on special projects. Imagine that, as a manager for Rubb
notsponge [240]

Answer:

Hire an external consultant to pick new team members for you

Explanation:

On the given scenario there are limited project spaces and plenty of volunteers for those positions.

An equitable and impartial method of choosing team members needs to be used to avoid conflict.

The best solution is to hire an external consultant who can be seen as impartial to do the selection.

This way employees will accept the objectivity of the selection since the external consultant does not have any underlying.interest in who occupies the project positions

3 0
2 years ago
Linda wanted to replace the old carpet in her home. She entered into a contract with Carpet Co., for the purchase and installati
malfutka [58]

Answer: In this particular case <u><em>the contract rules of the UCC apply, because the predominant purpose of the contract was sale of goods.</em></u>

The contract rules of the UCC regulate written agreement proceedings with  intangible assets and employment. UCC governs written agreement proceedings with commodities and tangible objects.

6 0
3 years ago
Other questions:
  • On December 31, 2017, Ball Company leased a machine from Cook for a 10-year period, expiring December 30, 2027. Annual payments
    6·1 answer
  • What is the name for utter business ruin or failure
    15·1 answer
  • Which of the following can explain the upward slope of the short-run aggregate supply curve? a. nominal wages are slow to adjust
    13·1 answer
  • What are some reasons why the budget deficit and non budgeted spending have been adding more than $500 billion to the national d
    7·1 answer
  • Alfred, the director of a large company producing construction materials, is linked through a professional network to several ma
    8·1 answer
  • In a market economy, buying decision are made by consumer
    7·1 answer
  • Choose the system of linear inequalities that represent the given scenario. Let a represent the number of adult tickets and let
    9·2 answers
  • How would you make a convincing case that open trade in goods and services as well as free flow of foreign direct investment wil
    14·1 answer
  • How do you take a pic of the problem you need help on
    7·1 answer
  • The Quaint Quilt produces and sells handmade quilts. Variable manufacturing costs total $140 per quilt. Fixed manufacturing over
    6·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!