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asambeis [7]
3 years ago
15

Fleming Company has the following cumulative taxable temporary differences: 12/31/18 12/31/17 $1,600,000 $2,250,000 The tax rate

enacted for 2018 is 40%, while the tax rate enacted for future years is 30%. Taxable income for 2018 is $4,000,000 and there are no permanent differences. Fleming's pretax financial income for 2018 is:
Business
1 answer:
jeyben [28]3 years ago
7 0

Answer:

Pretax financial income is $3,350,000.00

Explanation:

Fleming's pretax financial income is the taxable income for 2018 plus the increase in cumulative taxable temporary difference in 2018.

Taxable income is $4,000,000

Difference in cumulative  taxable difference=$1,600,000-$2,250,000

                                                                        =-$650,000

pretax  financial income=$4,000,000+(-$650,000)

                                                    =$4,000,000-$650,000

                                                    =$ 3,350,000.00  

The pretax financial income for year 2018 is  $3,350,000.00  

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False because the base is 6 and the exponent is 4
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If a bookstore manager prices a book higher than the equilibrium price, then _____. A. the market price of the book will become
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D. There will be an excess supply of these books.

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Electronic Superstore's inventory increases during the year by $4.5 million, and its accounts payable to suppliers increases by
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$38.0 millions

Explanation:

Cash paid to suppliers of merchandise  = Cost of Goods Sold + Increase in inventory - Increase in accounts payable

Therefore, we have:

Cash paid to suppliers of merchandise = $40.0 millions + $4.5 millions - $6.5 millions = $38.0 millions

7 0
3 years ago
The price of a home is $400,000. The mortgage company requires a down payment of 20% and 1 point at the time of closing for a 30
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Answer:

(a) $80,000  (b) $320,000  (c) $10,700  (d) $1,574.21  (e) $246,714.75  (f)  $440.87

Explanation:

Solution

Given that:

Now

(a)The price of the house = 400,000

The down payment = 20%

The value of down payment = 20%*400,000

= $80,000

(b) The loan  value or amount financed = Purchase Price - Down Payment

= 400,000 - 80,000

= $320,000

(c)  Thus

The loan value = $320,000

1 Point has to be paid at the closing time and also, the closing  fees of $7,500 has to be paid

So, the amount paid at the time of closing = 1%*320000 + 7500

= 3200 + 7500

= $10,700

(d) To compute the Monthly payment we make use of the PMT function in Excel

Which is given below:

4= PMT(Rate, Nper, PV, FV,Type)

Rate = 4.25%/12

Nper = 30*12

= 360

PV = 320000

FV = 0

Type = 0

=PMT(4.25%/12, 360, -400000,0,0)

= $1,574.21

(e) Now we find the total amount paid over 30 years  which is given as :

Total amount paid over 30 years

= 1,574.21*360 = $566,714.75

The loan amount = $320,000

Total interest cost = 566,714.75 - 320,000

= $246,714.75

(f)  The Interest paid during first installment is as follows:

= 4.25%*320000/12

= $1,133.33

Monthly installment = $1,574.21

The Principal repayment = Monthly installment - Interest paid during first installment

= 1,574.21 - 1,133.33

= $440.87

8 0
2 years ago
As the manager of the local Express Package Services, a retail shipping facility, DeAnna is evaluating the employees who work at
MrMuchimi

DeAnna is evaluating each of these employees in terms of their job performance.

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

Job performance refers to the ability of an employee in achieving the goals of an organisation. It is very essential for every employee in an organisation to perform well on their assigned roles and responsibilities for the success. The job performance of each and every employee of an organisation is related to its success.  

The performance of any job includes the employees meeting their deadlines on time, making good sales and also to build brand through a positive interactions with the customers. In the given situation, DeAnna evaluates the interactions of her employees with the customers, the sales they make and also the time they spend with the customers. Thus, DeAnna is evaluating each of these employees in terms of their job performance.

7 0
3 years ago
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