Answer:
$10,000 (Credit balance)
Explanation:
Given that,
Income before tax = $400,000
Income tax payments during the year = $150,000
Income tax rate = 40 percent
Therefore,
The balance in income tax payable at the end of the year:
= Tax liability - Income tax paid
= ($400,000 × 40%) - $150,000
= $160,000 - $150,000
= $10,000 (Credit balance)
Answer and Explanation:
The journal entries are shown below:
1 Equipment $53,420
To Cash $53,420
(Being the equipment is purchased for cash is recorded)
The computation is given below:
= Cash price of machine + sales tax + shipping cost + insurance during shipping + installation and testing cost
= $49,500 + $3,650 + $100 + $60 + $110
= $53,420
2. Depreciation expense $9,614
To Accumulated Depreciation - Equipment $9,614
(Being the depreciation expense is recorded)
The computation is shown below:
= ($53,420 - $5,350) ÷ ( 5 years)
= $9,614
Answer:
It is a very critical factor for companies to comply with what the Occupational Risk Prevention law says. Companies are responsible for achieving a safe work environment, and all the sanctions will fall on them if they fail to comply with appropriate security measures, such as an economic, criminal or civil sanction, depending on each situation
Explanation:
The Law on Occupational Risk Prevention aims to guarantee safety and health in the workplace, by complying with certain labor measures. The worker can have a civil responsibility in case of not acting correctly, and will have to answer for it legally if it causes damage to third parties. However, it is finally the company that must respond even when workers cease to comply with their safety obligations.
A good prevention reduces the risk of endangering the integrity of workers. On the other hand, there are various sanctions against companies that do not comply with these measures, the most important is the economic damage, which should be avoided. In more serious cases, criminal or civil liability could also exist, but it would depend on the situation
Explanation:
13,200 Rent prepaid on January 1 for 1 year
÷ 12 Months
$ 1,100 Rent expense per month
Thus, $1,100 Rent expense per month
× 7 Months
$7,700 Rent expense for January through July
At July 31, Aiden's Tavern should record $ 7700 of rent expense.
Answer:
A is the right answer so right it
