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
siniylev [52]
3 years ago
9

Costello Corporation reported pretax book income of $500,900. During the current year, the reserve for bad debts increased by $6

,800. In addition, tax depreciation exceeded book depreciation by $40,900. Finally, Costello received $3,450 of tax-exempt life insurance proceeds from the death of one of its officers. Costello's deferred income tax expense or benefit would be:
Business
1 answer:
raketka [301]3 years ago
6 0

Answer:

Deferred income tax expense = $7,161

Explanation:

Given:

Bed debts increase = $6,800

Depericiation increase = $40,900

Tax-exempt life insurance = $3,450

Computation:

Assume tax rate = 21%

Taxable difference = 40,900 - 6,800

Taxable difference = 34,100

Deferred income tax expense = 34,100 × 21%

Deferred income tax expense = $7,161

You might be interested in
The main source of profit for financial institutions comes from:
Olin [163]

Answer: The correct answer is choice d.

Explanation: The main source of profits for financial institutions is the interest that it receives on money that it loans out. More specifically, the difference between interest paid on deposits and interest received on loans. The other choices do represent revenue streams for financial institutions, but they are not the primary ones.

7 0
3 years ago
What measures can be taken by the primary sectors to increase it's contributions to GDP?​
Nezavi [6.7K]

Answer:

Explanation:

Economists and statisticians use several methods to track economic growth. The most well-known and frequently tracked is the gross domestic product (GDP). Over time, however, some economists have highlighted limitations and biases in the GDP calculation. Organizations such as the Bureau of Labor Statistics (BLS) and the Organization for Economic Co-operation and Development (OECD) also keep relative productivity metrics to gauge economic potential. Some suggest measuring economic growth through increases in the standard of living, although this can be tricky to quantify.

KEY TAKEAWAYS

Different methods, such as Gross National Product (GNP) and Gross Domestic Product (GDP) can be employed to assess economic growth.

Gross Domestic Product measures the value of goods and services produced by a nation.

Gross National Product measures the value of goods and services produced by a nation (GDP) and income from foreign investments.

Some economists posit that total spending is a consequence of productive output.

Although GDP is widely used, it, alone, does not indicate the health of an economy.

1:18

Why Is GDP So Important?

Gross Domestic Product

The gross domestic product is the logical extension of measuring economic growth in terms of monetary expenditures. If a statistician wants to understand the productive output of the steel industry, for example, he needs only to track the dollar value of all of the steel that entered the market during a specific period.

Combine the outputs of all industries, measured in terms of dollars spent or invested, and you get total production. At least that was the theory. Unfortunately, the tautology that expenditures equal sold-production does not actually measure relative productivity. The productive capacity of an economy does not grow because more dollars move around, an economy becomes more productive because resources are used more efficiently. In other words, economic growth needs to somehow measure the relationship between total resource inputs and total economic outputs.

The OECD described GDP as suffering from a number of statistical problems. Its solution was to use GDP to measure aggregate expenditures, which theoretically approximates the contributions of labor and output, and to use multi-factor productivity (MFP) to show the contribution of technical and organizational innovation.

1

Gross National Product

Those of a certain age may remember learning about the gross national product (GNP) as an economic indicator. Economists use GNP mainly to learn about the total income of a country's residents within a given period and how the residents use their income. GNP measures the total income accruing to the population over a specified amount of time. Unlike gross domestic product, it does not take into account income accruing to non-residents within that country’s territory; like GDP, it is only a measure of productivity, and it is not intended to be used as a measure of the welfare or happiness of a country.

The Bureau of Economic Analysis (BEA) used GNP as the primary indicator of US economic health until 1991. In 1991, the BEA began using GDP, which was already being used by the majority of other countries. The BEA cited an easier comparison of the United States with other economies as a primary reason for the change.

2

4 0
1 year ago
Pix Company has the following production data for March: no beginning work in process, units started and completed 30,500, and e
MrMuchimi

Answer:

Summary of costs to be accounted for

Costs to be accounted for:            Materials         Conversion     Total

Beginning WIP                                   0                          0                  0

Costs incurred in the period         <u>$142,800          $390,960     $533,760</u>

Total costs to be accounted for   $142,800          $390,960     $533,760

 

Calculation of cost per equivalent unit

                                                       Materials         Conversion     Total

Total costs to be accounted for   $142,800          $390,960     $533,760

Total equivalent units                  <u>    35,700              32,580                        </u>

Cost per equivalent unit                   $4                     $12              $16

Cost allocation

                                                       Materials         Conversion     Total

Units finished and transferred      $122,000        $366,000      $488,000

Ending WIP                                   <u>   $20,800          $24,960         $45,760  </u>

Total costs to be accounted for    $142,800        $390,960      $533,760

Explanation:

beginning WIP 0 units

units started and completed 30,500

ending WIP 5,200

100% complete for materials

40% complete for conversion costs (2,080 EU)

total EU:

materials 35,700

conversion 32,580

total costs:

materials 35,700 x $4 = $142,800

conversion 32,580 x $12 = $390,960

total = $533,760

4 0
3 years ago
A summer camp that offers one-week programs faces the challenges of long queues as parents try to check in their children each S
jeka57 [31]

Answer:

(i) the average time parents wait decreases

(ii) the maximum time the parents wait decreases

(iii) the average number of parents waiting to check in their child decreases

<u>(i), (ii) and (iii) are all correct</u>

Explanation:

The guardians and students sit tight in the line for check-in procedure and afterwards they really check=in. Here, the guardians and youngster are the customer though the staff which is helping the guardians and students are the server. With restricted servers and numerous customers, the line length builds which implies there are more guardians in the line which results into increment in the hanging tight time for each parent and thus the normal holding up time. Further, with longer lines the greatest holding up time is additionally higher.  

In this way, by including more staff for check=in, the quantity of customers can be expanded to take into account a similar number of patients. The line gets partitioned into numerous servers which results into each of the 3 advantages.

6 0
3 years ago
Two athletes of equal ability are competing for a prize of $10,000. Each is deciding whether to take a dangerous performance-enh
dedylja [7]

Answer:

The best option is when both athletes decide not to take drugs and each earns $5,000.

Explanation:

In a Nash equilibrium scenario:

                                                 Athlete 1's decision

                                      take drug                   do not take drug

Athlete 2's                     $5000 - x/                        $0 /

decision                                  $5,000 - x                     $10,000 - x

take drug

do not                           $10,000 - x/                        $5,000 /  

take drug                                          $0                               $5,000

The best possible situation occurs when both athletes decide not to take the drugs. In this situation both athletes win $5,000. If both athletes decide to take the drug and charge the price, they will both earn $5,000 - X.

The Nash equilibrium should show the situation where both players win the most regarding the other player's strategy.

5 0
3 years ago
Other questions:
  • Who has qualified for the world cup 2018?
    5·1 answer
  • Government agencies are which of the following?
    13·2 answers
  • Suppose a U.S. Treasury bond will pay $2,500 five years from now. If the prevailing interest rate on 5-year Treasury bonds is 4.
    11·1 answer
  • In a question related to approval of President George W. Bush's plan to save social security, the interviewer asks, "Don't you a
    13·1 answer
  • Huck Finn is thinking about purchasing some stock in Mississippi Mining Company (MMC). Huck uses the price/earnings ratio techni
    9·1 answer
  • Charlie's Chocolates' owner made investments of $66,000 and withdrawals of $28,000. The company has revenues of $99,000 and expe
    6·1 answer
  • What is a 3-month overnight indexed swap (OIS)?
    14·1 answer
  • Your real estate agent mentions that homes in your price range require a payment of $1,200 per month for 30 years at 0.75% inter
    12·1 answer
  • Economic systems differ from one another based on who owns the factors of production and.
    6·1 answer
  • A budgeting process that involves the input and negotiation of several layers of management describes the management philosophy
    13·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!