Answer:
$10,200
Explanation:
The computation of the deferred income tax expense or benefit is shown below:
Favorable temporary difference = $50,000
Less: Unfavorable temporary difference -$20,000
Net favorable temporary difference $30,000
We assume the tax rate is of 34%
So, the deferred tax expense is
= $30,000 × 34%
= $10,200
By finding out the net favorable temporary difference and then multiplied with the tax rate we can get the deferred tax expense and the same is shown above
Any interest that you receive from a bank is taxable income, so I guess its false
Answer:
Cyclical unemployment
Explanation
Unemployment is simply a state of joblessness.unemployment rate is said to be the percentage of the nation's labor force that is unemployed.
cyclical unemployment is simply a type of uneployment it usually arises during economic downturns and falls when the economy improves.it is caused by the upswings and downswings of business cycles in the economy.
Answer:
Date Account Titles and Explanation Debit Credit
1-Nov Cash Dividends $42,000
(8,400 shares x $5)
Dividends Payable $42,000
(To record dividends payable)
1-Dec No entry on this date
31-Dec Dividends Payable $42,000
Cash $42,000
(To record payment of cash dividend)
Answer:
Explanation:
incorrect answer
a credit balance of $7500
correct answer
a debit balance of $7500.
