Answer: Liability of $300,000
Explanation:
In the question above, what we have is a deferred tax liability, which could be explained as the amount accrued in taxes at a present time but payable in the future. The tax rate will not be based in the present tax rate. Thus is why we will not be using the 30% tax tate of 2018 in calculating the tax amount.
Tax rate = 40%
Exceeded tax basis = $750,000
0.4 × 750,000 = $300,000
Therefore, Johns-Hopper should report the deferred tax effect of this difference in its December 31, 2018, balance sheet as Liability of $300,000
Answer: Please see explanation column for answer.
Explanation:
a) Journal entry to record the budget
Account Debit Credit
Estimated Revenues $2,500,000
Appropriation $2,000,000
Budget fund $500,000
Calculation
Budget fund= Estimated Revenues-Appropriation = $2,500,000- $2,000,000= $500,000
b) Journal entry to record the the expenditure when the interest comes due for payment.
Account Debit Credit
Expenditure Interest $2,000,000
Matured Interest payable $2,000,000
A.Tammy's little sister starts visiting online chat rooms to make friends
Answer:
fraternal benefit society
Explanation:
The fraternal benefit society is an organization in which the people generally share the ethics, religious views, etc. Also this society provides the insurance to their members
Since in the question it is mentioned that the Edward who is a member of Knight of Columbus i.e. a religious group dedicated a voluntary service in order to give the benefit to society
So the knights of columbus is a fraternal benefit society
Answer:
The Correct Option is A: 20 to 25 percent.
Explanation:
In a report by an American historian, it was stated that about 450,000 Americans did not stop being loyal to the British during the revolutionary period. This population represents about 20 percent of Americans having European Origin, or approximately 16 percent of the entire population.
