Answer:
$440,000
Explanation:
Pre Tax financial income $500,000
Tax depreciation exceeding book depreciation ($45,000)
Accrued Expense for litigation ($15,000)
Taxable income $440,000
Answer:
Harwick Co Entries
DATE ACCOUNT TITLE & EXPLANATION DEBIT CREDIT
$ $
5 Apr. Merchandise Inventory 34,800
Account Payable 34,800
(To record purchase of inventory on account)
6 Apr. Freight In 790
Cash 790
(To record freight cost incurred Purchase of merchandise)
7 Apr. Equipment 28,200
Account Payable 28,200
(To record purchase of equipment on account)
8 Apr. Account Payable 5,500
Merchandise Inventory 5,500
(To record return of damaged merchandise)
15 Apr. Account Payables 34,800
Cash (34,800-5,500) 29,300
(To record payment made)
Answer:
That is a personal choice depending on how the company is doing and how much you are likley to learn from dividends
