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ehidna [41]
3 years ago
12

North Dakota Corporation began operations in January 2017 and purchased a machine for $15,000. North Dakota uses straight-line d

epreciation over a four-year period for financial reporting purposes. For tax purposes, the deduction is 50% of cost in 2017, 30% in 2018, and 20% in 2019. Pretax accounting income for 2017 was $145,000, which includes interest revenue of $17,500 from municipal bonds. The enacted tax rate is 30% for all years. There are no other differences between accounting and taxable income.
Required:

Prepare a journal entry to record income taxes for the year 2017. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)
Business
1 answer:
taurus [48]3 years ago
5 0

...

Answer: Income tax 2017

$

Account income $145,000

Add depreciation 3750

Less capital allowance 7500

Balance. $141250

Tax. 42,375

North Dakota journal $

Dec 2017

Profit after tax Dr 42375

Cash CR. 42375

Tax payment for the year

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A manager experiences a cashier shortage that averages $50. 00 per day. if the manager's operation is open 360 days per year, wh
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A manager experiences a cashier shortage that averages $50. 00 per day. if the manager's operation is open 360 days per year, 1800 will be this manager's annual revenue loss due to cashier shortages

In colloquial language, the average is a single number representing a list of numbers, usually the sum of the numbers divided by the number of numbers in the list. For example, the average of the numbers 2, 3, 4, 7, and 9 is 5.

Suppose there are four types of means: mean, mode, median, and range. In fact, the range is a measure of spread or spread, while others are the most common "measure of central tendency".

Noun. Mean, Mean, Median, Standard means something that represents the midpoint. The average is the quotient obtained by dividing the sum of a set of numbers by the number of numbers. scored an average of 85 points on the test. The mean is the simple mean or the middle value between the two extremes.

In colloquial language, the average is a single number representing a list of numbers, usually the sum of the numbers divided by the number of numbers in the list. For example, the average of the numbers 2, 3, 4, 7, and 9 is 5.

Suppose there are four types of means: mean, mode, median, and range. In fact, the range is a measure of spread or spread, while others are the most common "measure of central tendency".

Noun. Mean, Mean, Median, Standard means something that represents the midpoint. The average is the quotient obtained by dividing the sum of a set of numbers by the number of numbers. scored an average of 85 points on the test. The mean is the simple mean or the middle value between the two extremes.

Learn more about averages   here

brainly.com/question/20118982

#SPJ4

5 0
2 years ago
Suppose Frank owns a vintage Porsche in mint condition. He agrees to sell it to Smith, but the night before the parties are to e
Korvikt [17]

Answer:

This is a situation arising from objective impossibility.

Explanation:

The contract was made for mint condition of car. The car damaged while it was with Frank. Thus, parties are thus discharged from their obligations under the contract.

6 0
3 years ago
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Which category of risk is often managed by purchasing insurance?
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Answer:

hazard risk.

Explanation:

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Which of the following represents the normal sequence in which the below budgets are prepared? a. Sales budget, budgeted balance
zloy xaker [14]

Answer:

c. Sales budget, budgeted income statement, budgeted balance sheet

Explanation:

First, we calculate the sales for the period. It would also calculatethe cash proceeds from sales, which will be useful for the balance sheet.

With that, we can plug sales revenue into the income statement and calcualte the net income.

And with the income statement, we can solve for retained earnings and build up the balance sheet. Among other data

Doing it in any other order, we are going to leave blanks and need to do the next one to fill them. In the proposed orde,r we do not need information from the subsequent budget to complete the previous one, which is good.

6 0
3 years ago
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