Answer: See explanation
Explanation:
a. Prepare the journal entry to record income tax expense, deferred income taxes, and income taxes payable for 2020.
Debit Income Tax Expense $40400
Debit Defered Tax Asset $7070
Credit Income Tax Payable $19190
Credit Defered tax liability $28280
(To record income tax expense and defered tax/liability).
Note that:
Income Tax Expense was gotten as:
= $202,000 × 20%
= $202000 × 0.2
= $40,4000
Income Tax Payable was gotten as:
= $95,950 × 20%
= $95950 × 0.2
= $19,190
2. Prepare the income tax expense section of the income statement for 2020.
Income statement for year ended 31 December 2020
Income before tax = $202000
Less: Income Tax expense - Current = $19190
Less: Income Tax expense - Defered = $21210
Net income = $161600
Answer:
operating cash flow = $21307.5
Explanation:
given data
sales = $50,000
costs = $23,000
depreciation expense = $2,250
interest expense = $2,000
tax rate = 23 percent
solution
we get here operating cash flow for that
EBIT = Sales - Costs - Depreciation .............1
EBIT = $50,000 - $23,000 - $2,250
EBIT
= $24750
and taxes is
taxes = tax rate × EBIT ..........2
taxes = 0.23 × $24750
taxes = $5692.5
so here operating cash flow that is
operating cash flow = EBIT + Depreciation - Taxes ..........3
operating cash flow = $24750 + $2,250 - $5692.5
operating cash flow = $21307.5
Answer:
$12,000
Explanation:
Take 20 pieces $20 average price per piece 30 days
= $12,000 expected sales for the month
Answer:
true
Explanation:
Market segmentation is the process of dividing prospective consumers into different groups depending on factors like demographics, behavior and various characteristics.
