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Ulleksa [173]
3 years ago
10

The valuation allowance account that is used in conjunction with deferred taxes relates:

Business
1 answer:
Angelina_Jolie [31]3 years ago
5 0

Answer:

c. Only to deferred tax assets.

Explanation:

  • The valuation allowance consists of a reserve that is used to offset the differed tax assets and is based on part of the tax and for its more likely that the tax benefits will be raised by the reporting entity.
  • The valuation is a contract account to deferred tax assets with more than 50% of the probability of being used in the future due to the non-availability and is just like a provision of the doubtful debts.
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A building acquired at the beginning of the year at a cost of $1,375,000 has an estimated residual value of $250,000 and an esti
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Answer:

a. 0.05

b. $68,750

a. $1,150,000

b. 0.1

c. $115,000

Explanation:

Depreciation expense using the double declining method = Depreciation rate x cost of the asset

Depreciation rate = 2 x (1/useful life)  = 2 / 40 = 0.05

The double-declining-balance depreciation for the first year = 0.05 x $1,375,000  = $68,750

Straight line depreciation expense = (Cost of asset - Salvage value) / useful life

The depreciable cost = Cost of asset - Salvage value = $1,450,000 - $300,000 = $1,150,000

The straight line rate = 1 / useful life = 1 / 10 = 0.1

The annual straight-line depreciation = $1,150,000 x 0.1 = $115,000

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3 years ago
Widget Corp. has launched a new range of smart bulbs with enhanced features. Before developing the product, Widget Corp. conduct
Ksju [112]

Answer:

d. market orientation

Explanation:

Market orientation -

It refers to the strategy , by which wants and needs of the consumers are considered before designing or manufacturing the goods and services , is referred to as market orientation .

The method is employed to attract more consumers and increase the sale of the goods and services , which increases the profit of the company  .

Hence , from the given scenario of the question ,

The correct option is d. market orientation .

5 0
4 years ago
The most recent financial statements for Summer Tyme, Inc., are shown here:
d1i1m1o1n [39]

Answer:

External finance needed = $2,088

Explanation:

Note: See the attached excel file for the Calculation of ratios with respect to sales, Proforma Income Statement, Calculation of Retained Earnings and Equity, and Proforma Balance Sheet.

From the Proforma Balance Sheet in the attached excel file, we have:

Total Assets = $12,610

Total Liabilities = $10,448

Therefore, we have:

External finance needed = Total Assets - Total Liabilities = = $12,610 - $10,448 = $2,088

Download xlsx
5 0
3 years ago
What website would be the best to use to find the best steakhouse near your home?.
Volgvan
Answer:
Just use G maps and search stakehouse.

Explanation:

8 0
3 years ago
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1. Calculate the Net Worth when Liabilities are $5,000 and Assets are $6,725​
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The answer is 567.879 percent
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