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Nataly [62]
3 years ago
14

Kendall Corners Inc. recently reported net income of $3 million and depreciation of $510,000. What was its net cash flow? Assume

it had no amortization expense. Enter your answer in dollars. For example, an answer of $1.2 million should be entered as 1,200,000.
Business
1 answer:
kogti [31]3 years ago
5 0

Answer:

$3,510,000

Explanation:

Net cash flows = net income + Depreciation expense

= $3,000,000 + $510,000 = $3,510,000

I hope my answer helps you

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In 20X1, Modern Property Groups collected rent revenue for 20X2 tenant occupancy. For financial reporting, the rent is recorded
vekshin1

Answer:

Debit deferred tax asset for $12,000

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Explanation:

The journal entries will look as follows:

<u>Date     Account Name and Description       Debit ($)      Credit ($)   </u>

20X1     Deferred tax asset (w.1)                        12,000

             Income tax expense (w.3)                    18,000

                Income tax payable (w.2)                                      30,000

<em><u>             (To record income taxes at the end of 20X1.)                             </u></em>

Workings:

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w.2: Income tax payable = Taxable income * Tax rate = $100,000 * 30% = $30,000

w.3: Income tax expense = Income tax payable - Deferred tax asset = $30,000 - $12,000 = $18,000

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3 years ago
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e) Kwame is willing to pay more fish per coconut

4 0
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