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andreyandreev [35.5K]
3 years ago
15

Bedford had this info at the end of 2015, its first year of operations: No other permanent or temporary differences exist. The l

itigation item will be paid in 2018. The depreciation will reverse evenly over the next three years. Tax rate is 30%. Future net income is probable. The 12/31/15 Income Tax Payable is:

Business
1 answer:
Alex73 [517]3 years ago
5 0

Answer: $150,000

Explanation:

Seeing as the litigation expense will only be paid in 2018, it should be added back to income for 2015.

= 900,000 + 100,000

= $1,000,000

As the depreciation will reverse evenly over the next three years and with future income probable, it should be removed from income.;

= 1,000,000 - 300,000

= $700,000

Municipal Bonds have the advantage of being Tax-exempt so their interest income should be removed to calculate how much tax should be paid.

= 700,000 - 200,000

= $500,000

2015 Income Tax Payable = 500,000 * 30%

= $150,000

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3 years ago
The ________ is an incomplete picture because a single number cannot fully reflect the sources of the underlying differences in
Sveta_85 [38]

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Income inequality ratio

Explanation:

The income inequality ratio is an incomplete picture because a single number cannot fully reflect the sources of the underlying differences in income.

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3 years ago
________________ mortgage is two or more mortgages consolidated into one payment, and is usually designed to allow the buyer to
azamat

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wrap around mortgage

Explanation:

A wrap-around mortgage is can be used in deals of owner-financing.

Wrap around mortgage refers to two or more mortgages consolidated into one payment. Such type of mortgage allow the buyer to purchase with a smaller down payment. A buyer also gets an added benefit of a below market interest rate first mortgage. A wrap-around mortgage can only be used to homes with an existing FHA or VA loans.

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Kent and julie are recruiters for sunspree inc. when both of them interview the same applicant, they often find that they have d
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It can be said that kent and julie have Low Inter-rater Reliability.

<h3>What is Inter-rater Reliability?</h3>
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5 0
1 year ago
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Kruka [31]

Answer:

False

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3 years ago
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