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Aliun [14]
3 years ago
15

Both Schedules M-1 and M-3 require taxpayers to identify book-tax differences as either temporary or permanent. T/F

Business
1 answer:
FinnZ [79.3K]3 years ago
8 0

Answer:

The correct answer is False.

Explanation:

Schedule M-1 is required when the gross income of corporations or their total assets at the end of the year is greater than $ 250,000.

Schedule M-3 asks certain questions about the financial statements of the corporation and reconciles the net income (loss) of the financial statements for the corporation (or group of consolidated financial statements, if applicable).

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You can receive 400,000 five years from today or 1,000,000 thirty years from today. what interest rate makes them equivalent?
deff fn [24]

Answer:

3.73%

Explanation:

The computation of the rate of interest that makes the equivalent is shown below:

As we know that

Present value=Cash flow × Present value discounting factor ( interest rate% , time period)

Let us assume the interest rate be x

where,

Present value of $400,000 is

= $400,000 ÷ 1.0x ^5

And,

Present value of $1,000,000 be

= $1,000,000 ÷ 1.0x^30

Now eqaute these two equations

$400,000 ÷ 1.0x^5 = $1,000,000 ÷ 1.0x^30

(1.0x^30) ÷ (1.0x^5) = $1,000,000 ÷ $400,000

1.0x^(30 - 5)=2.5

1.0x^25=2.5

1.0x = (2.5)^(1 ÷ 25)

x =1.03733158 - 1

= 3.73%

3 0
3 years ago
In the second half of 2019, automobile sales in the United States were lower than they were in the second half of 2018. The decr
Monica [59]

In the second half of 2019, automobile sales in the United States were lower than they were in the second half of 2018. The decrease in auto sales impacts GDP because new automobiles are counted as <u>consumption </u>when purchased by households and <u>investment</u> when purchased by businesses.

Gross domestic product (GDP) is the overall monetary or market value of all of the goods and services produced within a country's borders in a particular time period.

GDP can be calculated by adding up all of the money spent by consumers, businesses, and the government in a given period. It may also be calculated by adding up all of the money received by all the participants in the economy.

learn more about Gross domestic product (GDP) here

brainly.com/question/1383956

#SPJ4

3 0
2 years ago
[The following information applies to the questions displayed below.] Vail Resorts, Inc., owns and operates five premier year-ro
Sphinxa [80]

Answer:

JOURNAL ENTRIES

01 Dec Debit bank $2,900,000 Credit Note payable $2,900,000

31 Dec Debit Snowplow $95,000 Credit Bank $95,000

  c)    Debit inventory $31,000 Credit Accounts Payable $31,000

  d) Debit Maintenance expense $55,000 Credit Bank $55,000

   e)Debit Bank $378,000 Credit Season Passes $378,000

    f) Debit Accounts receivables $740 Credit Revenue $740

   g)  Debit Cost of sales $420 Credit Inventory $420

    h) Debit Bank $260,000 Credit Daily lift passes $260,000

    i) Debit Bank $2,200 Credit refundable deposit $2,200

j)  Debit Accounts payable $15500 Credit Bank $15,500

 k) Debit Bank $410 Credit Accounts receivables $410

    l) Debit Salaries and Wages $264,000 Credit Bank $264,000

Explanation:

1. Prepare journal entries for each transaction. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

8 0
3 years ago
Lyman’s business has grown to 400 employees with annual revenues of $15 million. He would like to expand further but needs anoth
Rashid [163]
He should consider where he is going to get the money from, how soon he will be able to pay it back if he borrowed it, and if he needs anymore emplyees for the expansion. 
7 0
3 years ago
Use the following to answer questions 31 - 32: Ann is the president of the Paper Supply Company. She is thinking about updating
SSSSS [86.1K]

Answer:

31. B) 7,000 & 10,000

32. B) Alternative 2

Explanation:

Volume is 7000 tons :

Alternative 1 costs : $10,000 + (7000 * $10 ) = $80,000

Alternative 2 costs : $20,000 + (7000 * $8 ) = $76,000

Alternative 3 costs : $40,000 + (7000 * $6 ) = $82,000

Alternative 2 is the most cheapest option if the volume is between 7,000 tons to 10,000 tons.

7 0
3 years ago
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