Answer:
$1,620,000
Explanation:
Assume that Sharp operates in an industry for which NOL carryback is allowed.
In its first three years of operations Sharp reported the following operating income (loss) amounts: 2019 $ 1,350,000 2020 (3,150,000 ) 2021 5,400,000
There were no deferred income taxes in any year. In 2020, Sharp elected to carry back its operating loss.
The enacted income tax rate was 25% in 2019 and 30% thereafter.
In its 2021 balance sheet, what amount should Sharp report as current income tax payable is the applicable tax rate for 2021 applied on the income of the year: 30% x 5,400,000 = $1,620,000
Answer:
The correct option here is C)
Explanation:
The correct answer is C) because Economics is nothing but empirical science and by empirical science it means that the economists will have to study the real world examples or evidences to create a support for their theory. And based on this , we can definitely say that from the given choices in the question option C) is definitely correct, they first collect the real world observations and then analyze them to see whether these actions are in accordance with their theory.
Answer:
True
Explanation:
The nominal GDP is divided by the real GDP to calculate GDP deflator which is used to calculate the CPI and Inflation rate. So it is true that the GDP delfator is used to calculate inflation rate.
The answer to this question is c <span>The banks must have weighed the cost of installing bandit barriers against the benefits and
decided that they have “no interest in ever putting in the barriers.”
Hope this helps!!
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Answer:
Orion Flour Mills Journal entry
Dr Equipment 62,400
Dr Prepaid Insurance 500
Cr Cash 2,900
Cr Accounts Payable 60,000
Explanation:
Calculation for cost of equipment
Purchase price 55,000
Add: Sales tax 5,000
Add: Shipment of machine 800
Add: Installation 1,600
Total Cost of Equipment 62,400
Calculation for Cash
Shipment of machine 800
Add Insurance on the machine for the first year 500
Add Installation 1,600
Total Cash 2,900
Calculation for Accounts Payable
Purchase price 55,000
Add: Sales tax 5,000
Total Account payable 60,000
