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
yarga [219]
3 years ago
9

For the year ended December 31, year 5, Pering Co. reported pretax financial income of $550,000. Its current tax expense was $14

4,000. Pering reported a difference between pretax financial statement income and taxable income. This difference is due to accelerated depreciation for income tax purposes. Pering’s effective income tax rate is 30% and Pering made estimated tax payments during year 5 of $75,000. What amount did Paring report as taxable income for year 5?
405,000
480,000
475,000
550,000
Business
1 answer:
lukranit [14]3 years ago
4 0

Answer: $480,000 is the taxable income for year 5 reported by Paring report.

Given:

Pretax financial income = $550,000

Current tax expense = $144,000

Effective income tax rate is 30%

Taxable income is computed as :

Taxable income = Tax expense ÷ Current tax rate

Taxable income = $144,000 ÷ 30%

<u><em>Taxable income = $480,000</em></u>

You might be interested in
RESTAURANT RESEARCH SCENARIO - Insight Research, a marketing research company, has been hired by a national chain of family rest
maks197457 [2]

Answer:

Employees attitude to customers (Customer Relationship) and the quality of the food are the two most important trends that would bring about an increase in sales.

Explanation:

The first instrument of effective sales is an establish relationship. If a customers visits a restaurant to buy food and does not feel welcomed, the tendency to return back another time is very slim. Hnece, taking the scenerio in questions,the employees do not have the right attitude for keepiing their customers loyal to their product irrespective of whether the product is good or bad.

On the other hand, the reason for visiting a restaurant is to eat good food and not bad. So, when the quality of food cooked by the restaurant does not meet the taste and quality expected by the customer, the possibility of having such customer come around again is low. This invariably implies loosing the customer and the chain of connections such customer would have brought to the restaurant.

In summary, having the right employees with good customer relationship and chefs with good food recipes and quality is likely to result in the restaurant experiencing an increase in sales

6 0
3 years ago
A sale transaction closes on April 15th. The day of closing belongs to the seller. Real estate taxes for the year, not yet bille
Rasek [7]

Answer:

$607

Explanation:

Data provided in the question:

Date of closing of sales transaction = April 15

Expected tax for the year = $2,110

Number of days in an year = 365

Now,

Per day tax = [ Expected tax for the year ] ÷ [ 365 ]

= $2,110 ÷ 365

= $5.781 per day

Time period from January 1 to April 15 in days = 105 days

Therefore,

The seller's share of the tax bill

= Per day tax × Time period from January 1 to April 15 in days

= $5.781 × 105

= $606.98 ≈ $607

6 0
3 years ago
When communicating a complex idea, what is most important?
Oksi-84 [34.3K]
Both A and C are almost required to communicate a complex idea. A. pulls the person into actually listening and C makes your idea comprehensible. If I had to go with one or the other, I would emphasize A since it makes certain that the person pays attention. However, putting into consideration that your teacher would likely not want that answer, I would instead go with C.
6 0
4 years ago
Read 2 more answers
Required: Prepare journal entries to record the December transactions in the General Journal Tab in the excel template file "Acc
PtichkaEL [24]

Answer:

journal entries to record the December transactions

1-Dec

Cash $10500 (debit)

Common Stock $10500 (credit)

1-Dec

Rent Expense $950 (debit)

Cash $950 (credit)

1-Dec

Prepaid Insurance $600 (debit)

Cash $600 (credit)

1-Dec

Equipment $3600 (debit)

Cash $3600 (credit)

5-Dec

Supplies Expense $300 (debit)

Accounts Payable $300 (credit)

15-Dec

Cash $7200 (debit)

Service Revenue $7200 (credit)

16-Dec

Accounts Receivable $5200 (debit)

Service Revenue $5200 (credit)

21-Dec

Cash $2400 (debit)

Accounts Receivable $2400 (credit)

23-Dec

Accounts Payable $170 (debit)

Cash $170 (credit)

28-Dec

Wages Expense $4480 (debit)

Cash $4480 (credit)

30-Dec

Dividends $200 (debit)

Cash $200 (credit)

Explanation:

The General Journal consists of Entries of Expenses, Capital Expenditures and Receipts and Payments in Cash.

8 0
3 years ago
The differences between Golden Harvest brand canning jars and Mason brand canning jars is not readily visible. Both are made of
Finger [1]

<u>Full question:</u>

The differences between Golden Harvest brand canning jars and Mason brand canning jars is not readily visible. Both are made of heavy glass that will not break easily. Through its advertising, Golden Harvest advertises that its jars are made with a glass that is 100 percent free of all impurities. In this way, Golden Harvest is using _____ to differentiate its product from those of the Mason brand.

A. hidden difference

B. differentiation cue

C. imperceptible difference

D. sensory cue

E. Perception filter

<u>Answer:</u>

In this way, Golden Harvest is using hidden difference to differentiate its product from those of the Mason brand.

<h3><u>Explanation:</u></h3>

Advertising is the usual means of obtaining a good and service perceived to a public. Hidden differences are the ones where the customers don't know what these variations are so that's why they have to be advertised. Hidden differences are not easily manifest.

Product differentiation is a purchasing plan that aims to recognize a company's goods from the opponent. Auspicious product differentiation includes recognizing and expressing the individual features of a company's presents while highlighting the clear differences among those offerings and others on the market.

3 0
3 years ago
Other questions:
  • The cash account had a normal balance of $48,000 at the beginning of the month. during the month, langdon company received cash
    8·1 answer
  • _____ are the cost of borrowing money.
    7·2 answers
  • Ariel is saving money to purchase a new computer before she leaves for college in two She wants to open a special account at a d
    15·1 answer
  • Last year mike bought 100 shares of dallas corporation common stock for $53 per share. during the year he received dividends of
    9·1 answer
  • You can now sell 40 cars per month at $20,000 per car, and demand is increasing at a rate of 3 cars per month each month. What i
    15·2 answers
  • I feel nice so just tell me your fave game
    14·2 answers
  • The money supply decreases if:
    5·1 answer
  • Romboski, LLC, has identified the following two mutually exclusive projects:Year Cash Flow (A) Cash Flow (B)0 58,000 58,000 1 34
    13·1 answer
  • Marion, the new supervisor, has requested the management to install survaillance cameras and voice recorders to monitor the prod
    7·1 answer
  • Who wants branliest???!!!
    12·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!