Answer:
Income Tax Expense (Dr.) $49,080,000
Deferred Tax Liability (Cr.) $49,080,000
Explanation:
Income tax expense = ( Taxable Income for the year + building and equipment taxable amount + Prepaid Insurance - Liability or contingency Loss ) * Tax rate
Income Tax expense = ( $117,000,000 + $14,700,000 + $2,300,000 - $11,300,000) * 40%
Income Tax expense = $49,080,000
Answer:
A)After the reversing entry is posted for the adjustment made to recognize the salaries expense at the end of the accounting period, the Salaries Expense account will have a zero balance and the Salaries Payable account will have a credit balance
Explanation:
Reversing entry can be regarded as
a journal entry which is been made during an accounting period, it
reverses selected entries that is been made during immediately preceding period. reversing entry typically take placeat the beginning of particular accounting period.
It should be noted thatReversing entries are;
1) made to reverse the effect of certain adjustments.
2) provide a way to guard against oversights, eliminate the review of accounting records, and simplify the entry made in the new period.
3)is the exact opposite (the reverse) of the adjustment.
A company will pay interest based on its credit rating and the length of time over repayment is scheduled to occur (1-year, 5- years, or 10 years).
<h3>How is interest decided?</h3>
- It is based on various risks such as credit risk and maturity risk.
- Credit risk of a company is shown in its credit rating.
- The maturity risk increases as the length of time to repayment increases.
The interest paid will therefore be dependent on the credit rating of the company and the term of the loan that it took out as these show different types of risk.
In conclusion, option A is correct.
Find out more on maturity risk at brainly.com/question/24780094.
Answer:
$9,100
Explanation:
Calculation for what amount will Bahama record the dishwasher
Using this formula
Amount to record
dishwasher=Cash+Transportation costs+Installation fees
Let plug in the formula
Amount to record dishwasher=$8,000 + $600 + $500
Amount to record dishwasher = $9,100
Therefore the Amount to record dishwasher will be $9,100
There are different kinds of roles in distribution. Hassan is playing the Monitor role.
<h3>What are the roles of a monitor?
</h3>
- A Monitors is known to be vital in overseeing compliance with an Integrity Pact that has been entered by the parties involved. They help to coordinate communication between the parties and also the public.
Monitors are given the powered to receive reports of any unfair practices and handle them as in the case with Hassan.
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