Answer: $101 million
Explanation:
The amount that Ross should report as income tax expense in its 2021 income statement will be calculated thus:
First, we'll calculate the deferred tax asset in valuation allowance which will be:
= Deferred tax asset before valuation allowance - Deferred tax asset after valuation allowance
= $170 million - $130 million
= $40 million
Then, income tax expense will be:
Income taxes payable= $90 million
Add: DTA not be realized = $170 million × 30% = $51 million
Less: Deferred tax asset in valuation allowance = ($40 million)
Income tax expense = $101 million
Gap's cost of goods sold is $10,258 million and Cash paid to supplier is $10,447 million.
Let understand that Cost of good sold refers to amount of expenses incurred to produce the goods produced by a firm.
- The formulae for deriving the Cost of Goods Sold is {Beginning Inventories + Purchases – Ending Inventories}.
- Information given are <em>Purchased inventories $10,392, Ending inventories $2,131 and Beginning inventories $1,997</em>
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Cost of goods sold = $1,997 + $10,392 - $2,131
Cost of goods sold = $10,258
- In conclusion, the amount of Gap's cost of goods sold is $10,258
Let understand that Cash paid to accounts payable refers to net amount paid to supplier of goods.
- The formulae for deriving the Cash paid to accounts payable is Beginning balance for 2015 + Purchases - Ending balance for 2015
Cash paid to accounts payable = $1,181 + $10,392 - $1,126
Cash paid to accounts payable = $10,447
- In conclusion, the amount of Gap's Cash paid to supplier is $10,447
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<em>brainly.com/question/16805564</em>
Answer:
a business process
Explanation:
A business process -
It refers to the steps involved to complete a particular task or project in an organisation or company , is referred to as a business process .
It is the set of activities or task , which are followed and performed till the completion of the project .
Hence , from the given information of the question ,
The correct term is a business process .
Responsibility, organization, and good sportsmanship to name a few.
Answer:
$62,500
Explanation:
As we know that cash flow statement records the cash inflow and cash outflow and ignored all other transactions which are not made in cash
Since in the question it is given that $62,500 is cash collected from account receivable and the same is to be shown in the operating activities in a positive sign that indicates an inflow of cash
