Explanation:
The journal entry is as follows:
1. Deferred tax assets A/c Dr
To Income tax benefit - Operating loss A/c
(Being the income tax benefit is recorded)
The computation is shown below:
= Net operating loss × enacted tax rate
= $388,000 × 25%
= $97,000
2. Now the lower portion of the 2021 income statement is presented below:
Net operating loss before income tax $388,000
Less: Income tax benefit - Operating loss -$97,000
Net loss $291,000
Answer: Sarah failed to evaluate a potential ethical issue.
Explanation:
From the question, we are informed that Sarah who is the controller of a large beverage supplier, supervises two employees and that her boss, Vladimir, told her to increase the company's inventory balance for an amount that is material to the financial statements by crediting several small "miscellaneous" expense accounts.
We are further told that Sarah does not know the reason behind this but told one of her staff to make them because she has been instructed to do so.
We can see that Sarah failed to evaluate a potential ethical issue. She didn't evaluate the effect of what she is doing. In this case, what her boss told her to do could be a case of fraud and she just obliged without asking questions which will put her conscience at ease in case anything happens but the fact that she just did it without asking questions or thinking if what she has done is morally right or wrong, it shows that Sarah failed to evaluate a potential ethical issue.
The answer would be D noncumulative stock.
Mary Pickersgill and her daughter Caroline sew the American flag, which measured 30 by 42 feet. That flag flew over Fort McHenry during the War of 1812 ( or the Second War of Independence ). Mary, her daughter Caroline, her 2 nieces and a servant girl cut the stars and stripes, all by hand ( it was before the invention of the sew machine ). That flag inspired Francis Scott Key to write a poem " Defence of Fort M`Henry ". The combination of Key`s poem and Smith`s music became known as a song "The Star-Spangled Banner". This song was adopted as a national anthem of the United States in 1931. Answer: Mary Pickersgill.
Answer:
The economic profit=-$3,000, there is incentive to exit market
Explanation:
The economic profit can be defined as the difference between the revenue from sales and the total cost including opportunity cost. This can be expressed as;
P=R-(C+O)
where;
P=economic profit
R=total revenue
C=total input costs
O=opportunity cost
In our case;
R=$6,500
C=(2,100+3,100+100)=$5,300
O=$3,200
replacing;
P=6,500-(5,300+3,200)
P=6,500-8,500=-3,000
The economic profit=-$3,000, there is incentive to exit market