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sasho [114]
3 years ago
6

Tidwell Company has provided the following partial comparative balance sheets and the income statement for 20X2.

Business
1 answer:
VARVARA [1.3K]3 years ago
3 0

Answer:

here for points

Explanation:

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Stealth bank has deposits of $300 million. it holds reserves of $20 million and has purchased government bonds worth $300 millio
ryzh [129]

First let us identify if the asset is a gain or loss. An asset is a gain if it contributes to the banks overall finance while it is a loss if it is a cost directly or indirectly.

Deposits of $300 million = Gain (+)

Reserves of $20 million = Gain (+)

<span>Purchased government bonds worth $300 million = Loss (-)         ---> This entails cost</span>

Selling bank’s loans at current market value of $600 million = Gain (+)

Therefore adding up everything to get the banks net worth:

Stealth banks net worth = $300 M + $20 M - $300 M + $600 M

<span>Stealth banks net worth = $620 million</span>

7 0
3 years ago
Which of the following statements about income taxes is not correct?
Anastaziya [24]

The correct statement regarding the income tax is Deductible temporary differences give rise to deferred tax liabilities, meaning that more tax is payable in the future. hence option C is correct

<h3>What is income tax?</h3>

A tax placed on people or organizations in relation to their income or profits is known as an income tax. Tax rates multiplied by taxable income are typically used to calculate income taxes. Tax rates might change depending on the taxpayer's attributes and source of income.

The complete part of the question is below:

A) Review Later Income tax expense includes both the amount of tax payable in the current period and the amount of tax due in future periods.

B)Income taxes are based on taxable income and not accounting income.

C)Deductible temporary differences give rise to deferred tax liabilities, meaning that more tax is payable in the future.

D)Deferred taxes arise because of temporary differences between the tax base and the carrying amount of assets and liabilities on the balance sheet.

Hence option C is correct.

Learn more about income tax:

brainly.com/question/17075354

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7 0
2 years ago
The balance sheet identifies the productive resources (assets) that a firm uses to generate income, as well as the sources of fu
docker41 [41]

Answer:

A) True

Explanation:

The Balance Sheet is a snapshot of the financial situation of a company at the end of the accountable period. It shows which productive resources (assets) the company has for the development of its activities and how they are financed. Assets can be financed by external (Obligation with creditors – Liabilities) or internal sources (Issuing equity shares - Shareholders' equity). As every Asset must be financed either or both with Liabilities or Shareholders' equity, in the Balance Sheet, the accountable equation is represented.

5 0
2 years ago
A customer at the checkout complains that they can't find the brand of shampoo that they came in for. When you check for them, y
olga_2 [115]

Here are the options:

A. Check the receiving room for the product to be in the shelves.

B. Let them no the truck comes in on Tuesday.

C. Tell the Customer to check back again later.

D. Show the Customer the other brands of Shampoo that's available on the shelf

Answer:

<u>D. Show the Customer the other brands of Shampoo that's available on the shelf.</u>

Explanation:

This is the option because it provides an opportunity to still make a sale. Remember, the customer only complained of not seeing a particular brand

It therefore, means that if shown other brands of Shampoo that's available on the shelf they may opt-in to buy them.

4 0
3 years ago
When a person receives an increase in wealth, what is likely to happen to consumption and saving?
Arturiano [62]

When a person receives an increase in wealth, Consumption increases and saving decreases

Both present and future consumption rises as a consumer's current income does as well. Savings increase because current spending increases but does so at a slower rate than current income growth. Again, both present and future consumption rises when the customer receives an increase in predicted future income.

Savings declines because current consumption rises while current income does not. Current and future consumption both grow when the consumer's wealth increases. Again, because current income has not increased, saving has decreased. These individual actions to adjust one's consumption and saving habits have a cumulative effect on the aggregate amount of desired consumption and saving.

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brainly.com/question/14975005

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8 0
2 years ago
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