Answer:
Assets increase by $10,000
Total stockholders' equity increases by $10,000
Explanation:
To see impact of transcation mentioned in question on asset, liability and equity lets first begin with journal entry. Journal entry is given below.
Debit New Asset 110,000
Credit Cash Asset 40,000
Credit Old Asset 60,000*
Profit on disposal 10,000
*Old asset net book value = cost - accumlated depreciation
=100,000- (4*10,000) = 60,000
So this is clear that the asset and equity will increase as result of transaction mentioned above them. There will no impact on liability.
Answer:
Reported as an adjustment to income tax expense in the period of change
Explanation:
The deferred tax expense is generally defined as an increase in balance of deferred tax liability minus the increase in balance of deferred tax asset. It is an increase in the deferred tax liability balance usually from the beginning to the end of the accounting period.
The taxable income of a corporation is simply different from accounting income due to the fact that companies use the full accrual method for financial reporting but use the modified cash basis for tax reporting.
Tax is commonly defined as an involuntary charge imposed by the government to provide revenue for government which are use for development of public institution,roads and others. Tax laws are enacted to regulate, monitor payment of tax.
Communication.
Communication is the process of exchanging information verbally, non-verbally, through writing, etc.
Answer:
$ 180
Explanation:
Net capital spending = fixed assets at the end of the year - fixed assets at the beginning of the year + depreciation = $ 730 - $ 600 + $ 50 = $ 180
Net capital spending is the amount a firm used to acquire fixed assets during the year.
Answer:
An increase in demand is an increase in consumer willingness to. purchase moe of the good at any price.
Explanation: