Answer:
Income Tax Expense a/c Dr $ 20,57,000
Deferred Tax Liability a/c Dr $ 43,000
To Income Tax Payable a/c Cr $ 21,00,000
($6 Million x 35%)
Explanation:
The Above will result in timing Difference.
Timing Differences are those which can be reversed in subsequent periods.
Income Tax Expense a/c Dr $ 20,57,000
Deferred Tax Liability a/c Dr $ 43,000
To Income Tax Payable a/c Cr $ 21,00,000
($6 Million x 35%)
( Being Entry Passed for Tax Expense and Timing Difference Adjusted through Deferred Tax Liabilty)
The answer is a request for proposal
If this helps mark me the brainiest please and thank you
Answer: $13800
Explanation:
Based on the information to given in the question, the net gain or loss will be calculated as:
Long term capital gain (28%) = $24000
Add: Long term capital gain (25%) = $9,600
Add: Long term capital gain (15%) = $12,000
Add: Short term capital gain = $3,000
Total Capital gains = $48,600
Long term capital loss = ($9,600)
Long term capital loss (15%) = ($18,000)
Short term capital loss = ($7,200)
Total capital loss = ($34,800)
Then, the gain will be:
= $48600 - $34800
= $13800
Answer:
1. 88.16%
2. 88.54%
Explanation:
a. Prepare a forecast for September
Smoothing constant (a) is 0.1
Forecast for August (Ft) is 88%
Actual usage for August (At) is 89.6%
Forecast for September(Ft +1) will therefore be;
Using the formulae
= Ft+a (At-Ft)
= 88% + 0.1(89.6% - 88%)
= 88% + 0.16%
= 88.16%
b. Assuming actual September usage of 92% , prepare a forecast for October usage.
Since we have the following,
Smoothing constant(a) 0.1
Then forecast for September(Ft) is 88.16%
Also, actual usage for September (At) is 92%
Therefore, forecast for October (Ft + 1) will be,
Using the formula
= Ft+a(At - Ft)
= 88.16% + 0.1(92% - 88.16%)
= 88.16% + 0.384%
= 88.54%
Answer:
Bad debt expense for 2022 would be $4,225
Explanation:
Bad debt expense is the expense incurred by a company when a debtor of the company is unable to fulfuill their obligation to the company.
Bad debt expense for Coolwear Inc. would be calculated by
=Allowance for Uncollectible Accounts - (Uncollectible Accounts Balance - Accounts Receivable Writeoff)
Bad debt expense = $5,500 - ($1,950 - $675) = $4,225
