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AlladinOne [14]
3 years ago
5

During 2020, Kate Holmes Co.'s first year of operations, the company reports pretax financial income at $250,000. Holmes's enact

ed tax rate is 45% for 2020 and 20% for all later years. Holmes expects to have taxable income in each of the next 5 years.The effects on future tax returns of temporary differences existing at December 31, 2020, are summarized:Future Years 2021 2022 2023 2024 Future taxable- (deductible)amounts:Installment Sales 32,000 ### 32,000 Depreciation 6,000 ### 6,000 6,000 Unearned Rent (50,000) ###Compute Taxable Income for 2020.
Business
1 answer:
ozzi3 years ago
4 0

Answer:

Compute Taxable Income for 2020 224,000

Explanation:

the schedule below to compute deferred taxes at December 31, 2020 2020 2021 2022

Income Before Tax 250,000. (Financial Income) Differences Installment Sales deffered tax liability (96,000) 32,000 32,000 Depreciation deferred tax liability(30,000) 6,000 6,000 Unearned Rent deferred tax asset 100,000 (50,000) (50,000)Taxable Income Total of above224,000 Tax Rate 45% 40% 40%Income Tax Payable (Tax Income X Tax Rate)100,800 Deferred Tax Asset (unearned rent X Tax Rate) (20,000) (20,000) Deferred Tax Liability installment sales + Depreciation * tax rate 15,200 15,200

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Recognizing an employee as the Star Performer of the Month would be satisfying the _____ need of the Maslow s hierarchy of needs
Vikki [24]

Answer:

The correct answer to the following question is Esteem need of Maslows hierarchy of needs.

Explanation:

Maslows hierarchy of need is a motivation theory given by Abraham maslow, according to him people are motivated in order to achieve certain. He has described his theory of needs as pyramid which consists of physiological needs, safety needs,  social needs, esteem needs and self actualization.

In esteem needs , maslow tells about people's need for appreciation and respect, after a person has achieved the first three basis needs , the persons behavior would be motivated by esteem needs. Because people have need for feeling prestige and sense of accomplishment, self worth and self esteem.

6 0
3 years ago
"what is the difference between a credit card and a debit card? why are credit cards considerably more popular with u.s. consume
Y_Kistochka [10]
The difference between credit card and a debit card is that:
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7 0
3 years ago
What is the relationship between insurance and successful financial management? 1. Why is insurance important? 2. Consider your
tatiyna

Answer:

insurance is important in that it helps you indemnity the losses occured after the risk occurrence

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6 0
3 years ago
To follow is selected information about the Little Dipper Company for the current year and prior year Account Net sales revenue
Alex787 [66]

Answer: D- 9.12%

Explanation:The current net income percentage is calculated thus:

Current year net income = $59,120

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current year net income percentage = $5,420/$59,120 = 0.0912779 *100

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5 0
3 years ago
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madreJ [45]

Answer:  As per the demographic structure there are equal no. of man and woman are same therefore pricing should be done by taking into consideration both equally.

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.

If the majority of shoppers is female then 480 should be priced for simple and $150 for auto defrost.

5 0
3 years ago
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