Answer: $4,750
Explanation:
In calculating the deferred tax liability Tringali should use only the Temporary Difference as the Permanent difference is not considered and the temporary difference creates a difference in tax that will be paid later.
Doing that therefore will result in the following,
= 25% * 19,000
= $4,750
$4,750 is the amount that Tringali should report as its deferred income tax liability as of the end of its first year of operations.
I do not see it in the options but it is the correct answer.
Answer:
(C) decrease as the supply of college educated labor increases.
Explanation:
Labour Markets: with employees as labour sellers/ suppliers & firms as labour buyers/ demanders ; are at equilibrium where Labour Demand = Labour Supply.
Labour Demand curve is downward sloping because of wage - demand inverse relationship. Labour Supply curve is upward sloping because of wage - supply direct relationship.
An increase in supply of certain labour supply shifts labour supply curve rightwards. This creates excess supply of that labour & competition among sellers (prospective employees) reduces their price i.e wage rates.
Above explanation perfectly explains the case of college degree holders, whose supply increase would lower down their wages.
Answer:
Debit cash for $1,180
Credit unearned catering revenue for $1,180
Explanation:
Unearned revenue refers to the amount of money that is received in cash by a company for goods that are yet to be delivered or services that yet to be rendered.
The $1,180 advance payment received by Ted Catering is unearned catering revenue. The eneral journal entry that Ted Catering will make to record the cash receipt wil appear as follows:
<u>Account title Dr ($) Cr ($) </u>
Cash 1,180
Unearned catering revenue 1,180
<em><u>(To record unearned catering revenue.) </u></em>
Answer:
Competition
Explanation:
In the capitalistic economy, COMPETITION ensures that a firm will survive only if it serves its customers well by providing products and services that meet their needs.
Hence, Competition is a favorable concept for business because it stimulates the improvement and growth of new and decent commodities in the markets.
To consumers, competition is good because it normally leads to better service and lower the costs or prices of commodities.
The retirement plan she most likely has is the 401(k)
Well, actually both 401k and 403 b offer similar system of retirement. But 401k is more commonly used by middle-lower class worker, including elementary school teacher
