Answer:
The answer is: Stone can report $8,750 as deferred income tax liability
Explanation:
Deferred income tax liability: income tax owed by a business that is put off into future years because a difference exists between GAAP accounting (in this case book depreciation) and income tax accounting.
The deferred tax liability is based on the difference on depreciation. Since 20x9 is Stone Co.'s first year of operations, the depreciation difference in this year must equal the net future depreciation difference.
To calculate the deferred tax liability balance we take the difference in depreciation and multiply it by the future tax rate: $25,000 x 35% = $8,750.
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Answer:
I II III and IV
Explanation:
The FDIC is the Federal deposit insurance corporation. The primary purpose of the FDIC is to insure deposit in the banks and thrifts institutions in the event of a bank failures. The FDIC requires undercapitalized banks to provide a plan of capital/fund restoration to the FDIC, halt the acquiring of brokered deposits, obtain FDIC approval for any transaction and also to suspend all dividends and management fees while undercapitalized.
Your answer is market ((: I hope this answer helps you !
Answer:
c. $(5,000)
Explanation:
Calculation for the record of either gain/(loss)
In Case B
Book Value amount was $39,100
Fair Value amount was $34,100
Hence:
Using this formula
Gain/(loss)= Book Value-Fair Value
Let plug in the formula
Gain/(loss)=$39,100-$34,100
Loss=$5,000
Grand Forks would record a loss of $5,000 because the fair value which is the price the buyer is willing to buy the asset is lesser than than book value amount.