Answer: $19,687 million
Explanation:
From the question, we are informed that Microsoft Corp. reported a statutory tax rate of 35% and an effective tax rate of approximately 15% and that the 2016 income statement reported income tax expense of $2,953 million.
The amount reported by Microsoft as income before income tax expense that year will be calculated as:
= 2,953 million / 15%
= $19,686.67 million
= $19,687 million
I’m pretty positive that that the answer is USA patriot act
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Answer:
Option (D) is correct.
Explanation:
Given that,
Sales revenue = $32,0000
Accounts receivable = 50,000
Ending inventory = 100,000
Cost of goods sold = 250,000
Sales Returns = 20,000
Gross profit:
= Net sales revenue - Cost of goods sold
= (Sales revenue - Sales return) - Cost of goods sold
= ($320,000 - $20,000) - $250,000
= $300,000 - $250,000
= $50,000
Answer:
Debit : Land $1,200,000
Explanation:
The journal entry lattern Company need to record is
Dr Land $1,200,000
------------ Cr Credit common shares $12,000
------------ Cr Paid in capital - Common shares $1,188,000
As 120,000 shares is exchanged, for the land and the share is traded in the exchange, the value of the land should be recorded at the market price of this
= 120,000 shares or 120,000 × $10 = $1,200,000
Common share account is recorded at lar value x number of shares issued = $0.1 × $120,000 = $12,000 while paid in capital common share account records the difference between market price and par value at the time of shares issuance or
= (10 - 0.1) × 120,000
= $1,188,000
