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Mnenie [13.5K]
3 years ago
15

In its first year of operations, Woodmount Corporation reported pretax accounting income of $500 million for the current year. D

epreciation reported in the tax return in excess of depreciation in the income statement was $60 million. The excess tax will reverse itself evenly over the next three years. The current year's tax rate of 40% will be reduced under the current law to 35% next year and 30% for all subsequent years. Assuming no other temporary or permanent differences, Woodmount will report a deferred tax liability of:A. $21 million.B. $24 million.C. $18 million.D. $19 million.
Business
1 answer:
GalinKa [24]3 years ago
5 0

Answer:

The correct answer is D. $ 19 million dollars.

Explanation:

As per accounting standards deffered tax provision is recorded on accounting difference keeping the tax rate applicable, in the year of reversal or accounting year in which difference ceased to exist, in consideration.

So based on above said rule deffered tax liability will be calculated in following way.  

Next year: $20 x 35% = $ 7

Subsequent years: $40x 30% = $ 12

Deferred tax liability  = $ 19

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lesya692 [45]

Answer:

Gross premium = $100

Monthly Net premium = $70

Therefore 70 x 12 x 3 = 2,520

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2,520/100 x 20/1

GMP (Gross Monthly Premium) = $540

4 0
3 years ago
Over a four-year period, LaKeisha Thompson purchased shares in the Oakmark I Fund. Using the following information, answer the q
ArbitrLikvidat [17]

Answer:

LaKeisha Thompson

a. At the end of four years, the total amount invested is:

= $6,000

b. At the end of four years, the total number of shares purchased is:

= 166.81

c. At the end of four years, the average cost for each share is:

= $35.97.

Explanation:

a) Data and Calculations:

Investments in Oakmark I Fund:

Year            Investment        Price      Number

                      Amount     per share    of share

Feb 2008        $1,500           $40        37.50

Feb 2009          1,500             30        50

Feb 2010           1,500             34        43.60

Feb 2011            1,500             42        35.71

Total               $6,000                        166.81

Average cost per share = $35.97 ($6,000/166.81)

7 0
3 years ago
Which of the following cannot be considered a benefit of implementing HACCP?
Natasha_Volkova [10]
I don’t see the options
7 0
3 years ago
According to keynesian views, what is government's role when it comes to the u. s. economy?
mezya [45]

Keynes proposed that the government spend extra cash and reduce taxes to turn a budget deficit, which could growth consumer demand inside the economic system.

Keynesians trust that, because charges are quite rigid, fluctuations in any element of spendin intake, funding, or authorities fees—cause output to alternate. If authorities spending increases, for instance, and all other spending components continue to be steady, then output will increase.

Keynes supported authorities intervention at some stage in instances of economic turmoil. a few of the theories he supplied in “fashionable concept” changed into that economies are chronically volatile and that complete employment is handiest viable with a lift from government coverage and public funding.

In line with Samuelson and other current economists, governments have four principal capabilities in a market financial system to boom efficiency, to provide infrastructure, to promote fairness, and to foster macroeconomic stability and growth.

Learn more about keynesian here:- brainly.com/question/23950967

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6 0
1 year ago
Josh is convinced that subgroups exist within his company's current customer base. Further, he believes that these different gro
kaheart [24]

Answer: Clustering

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In the given case, John wants to know the factors for which the potential customer wants to purchase his brand products. However due to higher population on target individual analysis is not feasible.

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3 0
3 years ago
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