1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Nataly [62]
3 years ago
6

Rainbow Co. began operations in 2019 and reported $600,000 in income before income taxes for the year. Rainbow’s 2019 tax deprec

iation exceeded its book depreciation by $80,000. Rainbow also had nondeductible book expenses of $30,000 related to permanent differences. Rainbow’s tax rate for 2019 was 25%, and the enacted rate for years after 2019 is 30%. In its December 31, 2019, balance sheet, what amount of deferred income tax liability should Rainbow report?
Business
1 answer:
cricket20 [7]3 years ago
4 0

Answer:

30.000

Explanation:

Income before taxes  $300,000

Timing difference between books and Tax (A) $100,000

Permanent difference cannot be considered for calculation of Differed tax liability or Deferred tax asset $40,000 (B)  is zero

Total Timing deference (C=A+B)  $100,000

Tax rate enacted for future (D)  30%

<h2>Differed tax liability (C*D)  $30,000 </h2>

<h2></h2>

You might be interested in
during the trial of a suit concerning liability for an accident involving cartage ltd. and docking inc., the plaintiff’s attorne
Ira Lisetskai [31]

Emma can provide her opinions and findings with regard to the evidence in the case that pertains to her area of expertise.

<h3><u>A trial is what?</u></h3>

A court trial, also known as a bench trial or jury trial, is a hearing during which all relevant facts are presented, and the judge or jury then renders a verdict on the matter. In a bench trial, the defendant may elect to forego the right to a jury trial in favor of the judge's decision.

In contrast to a jury trial, which has a panel of the defendant's peers decide on the case, a bench trial leaves the choice up to a judge. Let's examine the many steps that occur throughout a court proceeding.

Learn more about the trial here:

brainly.com/question/13485586

#SPJ4

5 0
1 year ago
_____ function of management is when a manager is responsible for organizing a staff and making sure the staff members have the
BARSIC [14]

The organizing function of management is when a manager is responsible for organizing staff and making sure the staff members have the necessary resources to do their jobs. This is further explained below.

<h3>What is the Organizing function of management?</h3>

Generally, In order to achieve goals, the role of management is to establish an organization's structure and allocate human resources.

In conclusion, Management's organizing role is to ensure that employees are properly organized and equipped to carry out their duties.

Read more about  management

brainly.com/question/14523862

#SPJ1

6 0
2 years ago
According to the rational choice theory, an individual is likely to commit a crime when he or she:
Korolek [52]

Answer:

d.

perceives the benefits of committing the crime to be greater than the potential costs.

Explanation:

Rational choice theory states that an individual makes rational calculations when making a decision. A rational decision maker chooses the option that best maximises personal benefits over costs.

I hope my answer helps you

5 0
3 years ago
Schluster hardware, inc., had a gross profit of $380,000, operating expenses of $210,000, and income taxes of $48,000. what is s
DENIUS [597]

$122,000 is Shulster's net income

To find the net income, subtract expenses and taxes from the gross income.

380,000 - 210,000 - 48,000 = 122,000

6 0
3 years ago
Read 2 more answers
How has the internet affected the way interest groups do grass-roots lobbying?
RUDIKE [14]
<span>With the onset of the internet and online means of outreach, interest groups and lobbying efforts have become more widespread and efficient in reaching an array of individuals. Given the ability to communicate with thousands or more at a time, they have been better able to frame and promote their interests.</span>
7 0
4 years ago
Other questions:
  • Bolander Corporation uses a job-order costing system with a single plantwide predetermined overhead rate based on machine-hours.
    11·1 answer
  • Among game birds popular with American consumers, _______ is by far the most commonly consumed. 
    14·2 answers
  • You, as the team leader, were not aware of the concerns of the Marketing Department, although certain members of your team have
    14·1 answer
  • The Field, Brown &amp; Snow partnership was begun with investments by the partners as follows: Field, $131,700; Brown, $167,700;
    11·1 answer
  • Rachel, a project manager, has undertaken a project to build a wall around a compound. She estimates that the cost of materials
    14·1 answer
  • A local movie theater had small cups of popcorn sitting on the counter where patrons purchased tickets. The cups were called "co
    11·1 answer
  • You play racquetball at a community club. You have two options for paying for court time. Option A: You pay $12 for court time e
    11·2 answers
  • Which of these is an example of perfect competition?
    9·1 answer
  • ____are not very liquid because you cannot take out money
    8·1 answer
  • 1. What are the advantages of learning in a group​
    11·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!