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3 years ago

Sandhill Corporation has temporary differences at December 31, 2020, that result in the following deferred taxes.

Business

1 answer:

azamat3 years ago

6 0

Answer: Please refer to Explanation

Explanation:

As per the US GAAP and IFRS, Deferred Tax Liabilities and Assets are not to be reported as Current Assets or Liabilities but rather as Non Current items.

Assets

Warranty Liability $57,400

Litigation Accruals $ 27,800

Total Deferred Tax Assets $85,200

Liabilities

Revenue Recognition $93,600

Depreciation $38,000

Total Deferred Tax Liabilities $131,600

Total Net Deferred Tax Liability $46,400

Total Net Deferred Tax Liability calculation

= $131,600 - $85,200

= $46,400

The above is how these balances would be presented in Sandhill’s December 31, 2020 balance sheet.

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Bob and Rob have started a food delivery business together called Grub Galore in their college town. They have not incorporated

Neko [114]

Answer:

Partnership Business

Explanation:

Partnership business is a business enterprise owned, managed and financed by a minimum of two individuals for the purpose of making profit.

Grub Galore is owned by Bob and Rob which makes it a partnership business.

Advantages

1) Profit is shared by partners only.

2) It is financed by more than one person which makes capital more available.

3) Decision making is faster company to limited liability companies

Disadvantages

1) Loss is shared among partners only.

2) Death of one partner might lead to the end of the business.

3) Disagreement between partners might end the business.

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3 years ago

A.8 B.15 C.26 D.52 if anyon can help i would be so happy

Alika [10]

I think the answer is D.52

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3 years ago

Suppose a basket of goods and services has been selected to calculate the CPI and 2012 has been selected as the base year. In 20

Evgesh-ka [11]

Answer: 2016 CPI is 110

Explanation:

Given the following :

Base year = 2012

Cost of basket in 2012 = $50

Cost of basket in 2014 = $52

Coat of basket in 2016 = $55

The Consumer Price Index (CPI) is calculated using the formula :

CPI = (weighted cost item in current period / weighted cost of item in base period) × 100

Base period / year = 2012

Current period = 2016

Therefore, 2016 CPI equals;

($55 / $50) × 100

= 110

8 0

3 years ago

Question 2: Allocating costs using ABC You have an ABC system with three pools number of cost driver units total cost in the poo

allochka39001 [22]

Answer:

Results are below.

Explanation:

To calculate the activities rates, we need to use the following formula on each pool:

Predetermined manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base

Pool 1= 20,000/10,000= $2 per direct labor dollar

Pool 2= 15,000/50= $300 per setup

Pool 3= 10,000/200= $50 per hour

Now, we can allocate costs to each product:

Allocated MOH= Estimated manufacturing overhead rate* Actual amount of allocation base

Product A:

Pool 1= 2*4,000= 8,000

Pool 2= 300*20= 6,000

Pool 3= 50 *50= 2,500

Total allocated costs= $16,500

Product B:

Pool 1= 2*6,000= 12,000

Pool 2= 300*30= 9,000

Pool 3= 50 *150= 7,500

Total allocated costs= $28,500

8 0

3 years ago

Sen Corporation warrants carry the right to buy 6 shares of Sen common stock at $10.00 per share. The common stock has a current

Advocard [28]

Answer: $25.50

Explanation:

Intrinsic Value of warrant = Number of shares buyable * (Market price - Warrant price)

= 6 * (14.25 - 10)

= $25.50

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3 years ago