Andrea is an accountant who lives in the state of Texas. What tax is she exempt from

For the current year temporary differences existed between the financial statement carrying amounts and the tax basis of the fol

Veseljchak [2.6K]

Answer:

Income Tax Expense (Dr.) $49,080,000

Deferred Tax Liability (Cr.) $49,080,000

Explanation:

Income tax expense = ( Taxable Income for the year + building and equipment taxable amount + Prepaid Insurance - Liability or contingency Loss ) * Tax rate

Income Tax expense = ( $117,000,000 + $14,700,000 + $2,300,000 - $11,300,000) * 40%

Income Tax expense = $49,080,000

8 0

3 years ago

Minor Company installs a machine in its factory at the beginning of the year at a cost of $135,000. The machine's useful life is

sasho [114]

Answer:

$25,800

Explanation:

The units-of-production deprecation method depreciates an asset based on the total units produced each year.

Unit of production depreciation expense = (units produced / total expected units of production) × (cost of asset - salvage value)

(64,500 / 300,000) x ($135,000 - $15,000)

0.215 x $120,000 = $25,800

I hope my answer helps you

6 0

2 years ago

Need help with this problem asap!!

dybincka [34]

You can go to history.com

6 0

2 years ago

In a mortgage, the amount of money borrowed is called the_______.

Rashid [163]

No answer choices......

In a mortgage, the amount of money borrowed is called the Loan principal, or just a loan.

5 0

3 years ago

Read 2 more answers

Use your understanding of the strategic management process to complete the sentences below.

pantera1 [17]

A firm’s Strategy is the plan of action that describes resource allocation and activities for dealing with the environment, achieving a competitive advantage, and attaining the organization’s goals.

Explanation:

A firm’s Strategy is the plan of action that describes resource allocation and activities for dealing with the environment, achieving a competitive advantage, and attaining the organization’s goals.

By acquiring a technology company that develops smartphone apps, a video-streaming business hopes to achieve Synergy , combining its video rights with mobile technology to increase profits.

Example

Drybar, which started in Brentwood, California, in 2010, is a hair salon catering entirely to people with curly or frizzy hair who want their hair straightened. No cuts, perms, or coloring happen here. The store now has over 40 locations.-Target Customer

Applewood Seed Co. of Colorado has fifty years of experience growing and supplying native wildflowers, grasses, and herbs to seed distributors, landscapers, golf courses, state highway departments, parks departments, government agencies, garden centers, mining companies, hydroseeders, and reclamation companies. Applewood has both an in-depth horticultural knowledge of native plants and the ability to supply in bulk-This statement is an example of exploit core competencies

A meditation instructor partners with a technology developer to market relaxation apps featuring soothing natural sounds and guided meditation exercises. The tech expert writes the code, and the meditation instructor develops the apps’ content.-This is an example of building up the Synergy

4 0

3 years ago