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3 years ago

Deferred income taxes are based on the:_______.

Business

1 answer:

Hunter-Best [27]3 years ago

3 0

Answer:

a. current tax rate or future tax rates, depending on when the temporary difference will reverse.

Explanation:

Deferred Tax is not payable to tax Authority it is only a book entry used by Accountants to match Income taxes payable in terms of Income Act and Income taxes expected to be presented to users in financial Statements.

Deferred taxes are based on current tax rate or future tax rates, depending on when the temporary difference will reverse.

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GAAP require state and local governments to include in their annual financial reports a budget-to-actual comparison showing actu

Elden [556K]

Answer:

The advantages of requiring both the original and final appropriated budget amounts are:

1. It enables comparison of original (static) budget with the final (flexible) budget.

2. From the comparison, management assesses performances based on actual performance versus original and final budgets respectively.

3. The significant changes based on the level of activity are easily determined.

Explanation:

The use of original and final budgets helps in the comparison with actual performance. It clearly shows the effect of the level of activity on budget performance.

6 0

3 years ago

Discount-Mart issues $10 million in bonds on January 1, 2018. The bonds have a ten-year term and pay interest semiannually on Ju

Ostrovityanka [42]

Answer:

Explanation:

Given the following :

Amount of bond issued = $10,000,000

Cash paid = $300,000

Term of bond = 10years

Semiannual interest pay

The stated annual rate of interest on the bond can be calculated thus :

Rate of interest ;

Cash paid / Amount of bond issued

$300,000 / $10,000,000

= 0.03

0.03 * 100%

= 3% (semiannual interest)

Therefore, annual rate of interest :

Semiannual rate * 2

3% * 2 = 6%

4 0

3 years ago

The principle of diminishing returns to capital states that if the amount of labor and other inputs employed is held constant, t

Volgvan

Answer:

b. Less is produced

Explanation:

The Principle of diminishing returns to capital states that as more unit of capital is added, a point will be reached where a decline in the marginal product will be encountered.

This simply means that for every additional unit of capital invested in the business, a less than proportionate increase is seen, this simply means that there will be a decrease in marginal productivity.

5 0

3 years ago

projects variable labor costs of $21,500 in March when 8,600 units are produced. If production is expected to drop to 8,000 unit

dlinn [17]

Answer:

Total direct labor cost=$20,000

Explanation:

First, we need to calculate the direct labor cost per unit:

Direct labor cost per unit= total cost / number of units

Direct labor cost per unit= 21,500 / 8,600

Direct labor cost per unit= $2.5

Now, the total cost for 8,000 units:

Total direct labor cost= 2.5*8,000

Total direct labor cost=$20,000

4 0

3 years ago

Esquire Comic Book Company had income before tax of $1,700,000 in 2016 before considering the following material items:

marshall27 [118]

Answer:

Esquire Comic Book Company

Income Statement

For the Year Ended December 31, 2016

Income from continuing operations $1,700,000

Restructuring costs ($75,000)

Income form continuing operations before taxes $1,625,000

Income taxes ($650,000)

Net income from continuing operations $975,000

Discontinued operations:

Income from discontinued operations $640,000

Loss on disposal of division ($420,000)

Income from discontinued operations before taxes $220,000

Income taxes ($88,000)

Net income from discontinued operations $132,000

Total net income $1,107,000

7 0

4 years ago