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miskamm [114]
3 years ago
11

A difference between book income and tax income that __________ (increases / decreases) taxable income in the current year but w

ill __________ (reduce / increase) taxable income in a future year is a(n) ________ book-tax difference.
Business
1 answer:
LuckyWell [14K]3 years ago
5 0

Answer:

Temporary difference

Explanation:

The reason is that the temporary difference is due to allowable and disallowable expenses and returns for some period which in later years equals to the allowable or disallowable incomes and expenses. This is all because of the temporary differences.

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You've started using the sq3r method of learning. after surveying a reading assignment, you go to the next step, which does this
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You've started using the sq3r method of learning. after surveying a reading assignment, you go to the next step, <span>Reading the headings and turning them into question.</span>
4 0
3 years ago
Lance’s Diner has a hot-lunch special each weekday and Sunday afternoon. The cost of food and other variable costs for each meal
Bumek [7]

Answer:

(a) $700

(b) $5.50

Explanation:

Weekly fixed costs = $6,000

Weekly Total meals = Average customers per day × No. of days

                                 = 500 × 6

                                 = 3,000

Fixed cost per meal = Weekly fixed costs ÷ Weekly Total meals

                                  = $6,000 ÷ 3,000

                                  = $2

(a) Lowest price in total = Number of customers × Variable costs for each meal

                                       = 200 × $3.50

                                       = $700

(b) Lowest price = Variable costs for each meal  + Fixed cost per meal

                           = $3.50 + $2

                           = $5.50

5 0
3 years ago
Lynette Company's Inventory balance at 12/31/04 was $200,000 and was $188,000 at 12/31/05. Its Accounts Payable balance e at 12/
Viefleur [7K]

Answer:

A) $704,000.

Explanation:

For computing the cash payments we need to calculate the following amounts which are as follows

Total purchases = cost of goods sold + ending inventory - opening inventory

= $720,000 + $188,000 - $200,000

= $708,000

Now cash payment to merchandise is

= Beginning account payable balance + purchased made - ending account payable balance

= $80,000 + $708,000 - $84,000

= $704,000

Hence, the correct option is A. $704,000

3 0
3 years ago
Trudy’s monthly expenses are outlined in the chart below. Trudy’s job pays her $36,000 annually. Determine Trudy’s DTI (debt-to-
cluponka [151]

Answer:

d. 44%

Explanation:

Calculation to determine what DTI ratio is

First step is to calculate the Debt

Using this formula

Debt = (Rent expense + Carr payment + Loan + Credit card payment) × Number of months in a year

Let plug in the formula

Debt =[($695 + $265 + $200 $160) × 12 months]

Debt= $1,320 × 12 months

Debt = $15,840

Now let calculate DTI ratio using this formula

Using this formula

Debt to income ratio = (Debt) ÷ (Income) × 100

Let plug in the formula

DTI ratio=[ ($15,840 ÷ $36,000) × 100]

DTI ratio=0.44*100

DTI ratio= 44%

Therefore DTI ratio is 44%

6 0
3 years ago
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7 0
3 years ago
Read 2 more answers
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