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Anastasy [175]
3 years ago
10

At December 31, 2018, Moonlight Bay Resorts had the following deferred income tax items: Deferred tax asset of $54 million relat

ed to a current liability Deferred tax asset of $36 million related to a noncurrent liability Deferred tax liability of $120 million related to a noncurrent asset Deferred tax liability of $72 million related to a current asset Moonlight Bay should report in its December 31, 2018, balance sheet a:
Business
1 answer:
Ratling [72]3 years ago
4 0

Answer:

Net deferred tax liability in non current liabilities = $84 million

Net deferred tax liability in current liabilities = $18 million

Explanation:

Deferred tax that is deferred tax asset or deferred tax liability can only be sett off against each other only when the tax in asset or tax in liabilities is to be paid to same tax authority.

Thus,  here assuming these are paid to same authority of taxes, thus these are sett off.

In the given case,

Deferred tax asset for current liability = $54 million

Deferred tax liability for current asset = $72 million

Net deferred tax liability in current liabilities = $18 million = (72 - 54)

Deferred tax asset for non current liability = $36 million

Deferred tax liability for non current asset = $120 million

Net deferred tax liability in non current liabilities = $84 million

Final Answer

Net deferred tax liability in non current liabilities = $84 million

Net deferred tax liability in current liabilities = $18 million

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bagirrra123 [75]

Answer:

Option C (Drop-shippers) is the correct choice.

Explanation:

  • Drop shipping would be a technique of retail fulfillment where a store does not maintain the items in stock that it advertises or sell. Instead, whenever a store offering its products that used the drop shipping framework, it buys goods from either a third party and it may have delivered the product straightforwardly.
  • The products are owned by Drop shippers but they have never handled or executed them.

Some other alternatives given weren’t linked to the scenario in question. So, the alternative above is the right one.

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You would like to combine a risky stock with a beta of 1.76 with U.S. Treasury bills in such a way that the risk level of the po
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Answer:

The risk of Treasury bills is 0 so we need to buy a proportion of risky assets that its beta equals to 1 which is the market beta

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A landscaping company accepts MasterCard as payment for $1,000 worth of services. MasterCard charges a service fee of 2 percent.
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Answer:

Dr   Cash     1020

               Cr         Service revenue   1000

               Cr          Service fee           20

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