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emmainna [20.7K]
3 years ago
13

Freeman, Inc., reported net income of $40,000 for 2015. However, the company's income tax return excluded a revenue item of $3,0

00 (reported on the income statement) because under the tax laws the $3,000 would not be reported for tax purposes until 2016. Assuming a 30% income tax rate, this situation would cause a 2015 deferred tax amount of:
Business
1 answer:
frutty [35]3 years ago
6 0

Answer:

This situation would cause a 2015 deferred tax amount of $900

Explanation:

Deferred tax liability: It is a liability which shows a difference between taxable income and the accounting earnings available before taxes.

In mathematically,

Deferred tax liability = Taxable income -  accounting earnings available before taxes

In this question, we multiply the revenue item by an income tax rate

In mathematically,

= Revenue item × income tax rate

= $3,000 × 30%

= $900

Hence, this situation would cause a 2015 deferred tax amount of $900

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The following situations should be considered independently. (FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $
Naddika [18.5K]

Answer:

1. John Jamison Approximately how long will it take John to reach his goal?

8.

2. Jasmine Company What is the interest rate implicit in this agreement?

8,77%

3. Sam Robinson What is the annual payment Sam must make to pay back his friend?

2416,815107

Explanation:

                          PV          x Int Rate x+int.rate N y    y*PV  

1. John Jamison 30000 1 10%          110% 8 2,143 64307,6643 64307

       

2.Jasmine Company N Monthly principal interest Net value    

    33.494    

1 6.000 3.062 2.937 30.432    

2 6.000 3.331 2.669 27.101    

3 6.000 3.623 2.377 23.477    

4 6.000 3.941 2.059 19.536    

5 6.000 4.287 1.713 15.250    

6 6.000 4.662 1.337 10.587    

7 6.000 5.071 929 5.516    

8 6.000 5.516 484 0    

       

       

Loan 33494      

Monthly: 8      

Interest: 8,77%      

Monthly payment 6.000      

       

3. Sam Robinson N Monthly principal interest Net value    

                                                       15000    

1 2416,815107 766,815107 1650         14233,18489    

2 2416,815107 851,1647687 1565,650338 13382,02012    

3 2416,815107 944,7928933 1472,022214 12437,22723    

4 2416,815107 1048,720112 1368,094995 11388,50712    

5 2416,815107 1164,079324 1252,735783 10224,4278    

6 2416,815107 1292,128049 1124,687058 8932,299746    

7 2416,815107 1434,262135 982,5529721 7498,037611    

8 2416,815107 1592,03097 824,7841372 5906,006641    

9 2416,815107 1767,154376 649,6607306 4138,852265    

10 2416,815107 1961,541358 455,2737492 2177,310907    

11 2416,815107 2177,310907 239,5041998 0    

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2 years ago
Company Z understands that their business is at risk. How can they use step two in the Decision-Making Process to reach their en
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Answer:

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Explanation:

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Answer:

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Ayayai Company has an old factory machine that cost $63,000. The machine has accumulated depreciation of $35,280. Ayayai has dec
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Ayayai Company has an old factory machine that cost $63,000. The machine has accumulated depreciation of $35,280. Ayayai has decided to sell the machine. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)

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Harry worked the following hours in a week. What are the average hours worked for these five days? Monday 8 Tuesday 10 Wednesday
zhannawk [14.2K]
8+10+7+9+6=40
40/5=8
Answer is B. 8

7 0
3 years ago
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