Answer:
$198,000
Explanation:
Here is the full question used in answering this question :
During the year, Fast/Wash Inc., has $310,000 in revenues, $105,000 in expenses, and $7,000 in dividend payments. Stockholders equity changed by
Change in stockholders equity = +310,000 - $105,000 - $7,000 = $198,000
Income increases stockholders equity while, dividend payments and expenses reduce stockholders equity.
Answer:
Power
Explanation: Hillary Clinton was the former secretary of State in United States of America, she was born October 24,1947. She is a diplomat,lawyer, politician and wife of the former president Bill Clinton. During her days as the first lady of the United States of America she worked and advocate for the health of the ordinary people through seeking health reforms.in 2006, she wanted to become the president of the United States of America and lead other countries and nations with Power.
Answer:
Correct option is C ; the DTA - Deferred tax asset is $300,000
Explanation:
For losses of Year 2015 DTA should be created at 31/12/2015 as due to this loss future income will get reduced and consequently company's tax liability will get reduced.
DTA = 750,000 x 40% = 300,000
In year 2016 tax rate is 40% so DTA will be at this rate as after setting off the loss of year 2015 with income of 2016 the company will benefit by 750000 x 40%=300000 due to lesser income tax liability.
Hence the DTA - Deferred tax asset is $300,000
Answer:
reported value of Montana’s inventory is $566000
Explanation:
given data
Cost as per FIFO = $630,000
Selling price = $ 600,000
Costs to sell = 34,000
Replacement cost = 541,000
to find out
What should be the reported value of Montana’s inventory
solution
we get here Net Realizable value
Net Realizable value NRV = Selling price - costs to sell
NRV = 600,000 - 34,000
NRV = $566000
so
we know Inventory should be reported at lower of Cost or NRV
so here Replacement cost is lower than NRV
but lowest that can be reported is lower of NRV & Cost
so that floor is the NRV $566000
so reported value of Montana’s inventory is $566000
