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koban [17]
3 years ago
8

Hopkins Co. at the end of 2017, its first year of operations, prepared a reconciliation between pretax financial income and taxa

ble income as follows:Pretax financial income...................$3,000,000Estimated litigation expense...........4,000,000Extra depreciation for taxes...........(6,000,000)Taxable income........................................$100,000The estimated litigation expense of $4,000,000 will be deductible in 2018 when it is expected to be paid. Use of the depreciable assets will result in taxable amounts of $2,000,000 in each of the next three years. The income tax rate is 30% for all years.The deferred tax liability to be recognized is1. $900,000.2. $1,200,000.3. $1,800,000.4. $1,500,000.
Business
1 answer:
klemol [59]3 years ago
5 0

Answer:

$1,200,000

Explanation:

Estimated Letigation Expenses      4,000,000.00

Tax Rate                                               30%

Deferred Tax Assets                       1,200,000.00

Estimated Litigation Expenses which is disallowed for tax purposes will be future deductible expenses when we will make the actual payment of the liability. So the Tax liability in the future year will decrease, so we will make the Deferred Tax Assets for this.

Therefore, The deferred tax liability to be recognized is 1,200,000

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In "Do Not Go Gentle into That Good Night”, the speaker emphasizes that older men should fight fiercely against death. The setti
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3 0
2 years ago
4.The inflation rate in the U.S. is 3%, while the inflation rate in Japan is 1.5%. The current exchange rate is $1 equal to 105
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Answer:

103.4709          

Explanation:

The computation is shown below:

Given that

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Japan inflation rate = 1.5%

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= Current exchange rate × (1 + Japan inflation rate) ÷ (1 + U.S inflation rate)

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5 0
3 years ago
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zloy xaker [14]

Answer:

True

Explanation:

The incremental budget technique is an important management accounting technique, which is prepared by making minimal changes in the previous budget. The budget is designed by allocating funds by using the preceding budget as a reference point. Incremental budget encourages spending up to the budget. It also helps to make sure that a reasonable budget is allocated for the next period.

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Answer:

Explanation:

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check the attached file bellow for further explanation

8 0
2 years ago
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