Answer and Explanation:
The journal entry to record the federal income tax expense is shown below:
Federal income tax expense ($10,000 - $4,000) $6,000
To Federal income tax payable $6,000
(being the federal income tax expense is recorded)
Here the federal income tax expense is debited as it increased the expense and credited the federal income tax payable as it increased the liabilities
Answer:
It is more likely to be the balance sheet of a property and casualty insurance company.
Explanation:
Answer:
Manufacturers produce or make products. They typically sell them to wholesalers or distributors that have expertise in getting products to retailers. Retailers then hold inventory and market the goods to consumers that purchase them for personal or family consumption.
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Answer:
A. Consumers and firms use all available information as they act to achieve their goals
Explanation:
Information is a value, maybe the most important. It´s also scarce and expensive: business pay fortunes to smart men.
And the most worthy information is the one that allows a person to predict the futuro. For instance, who knows what will be the price of oil in one year.
Usually available information is not enough, people cannot acces to a better option, therefore mistakes are made, even throught and after "rational" reasoning. So, people act "rationally", in spite of goal is not always achieved.
