Answer:
The multiple choices are:
A.
$99 million.
B.
$100 million.
C.
$110 million.
D.
$130 million.
The current option is A, $99 million
Explanation:
The total income tax expense for the comprises of the increase in tax payable amount of $109 million plus the decrease in deferred tax assets minus the decrease in deferred tax liability
Increase in tax payable $109,000,000
decrease in deferred tax liability ($29,000,000)
decrease in deferred tax assets $19,000,000
total income tax expense $99,000,000
The amount tax expense to deducted in the income statement for the year is $99 million.
The decrease in deferred tax liability is like an income ,hence deducted , while the decrease in deferred tax assets is added as an additional tax expense.
I believe he wears Slim Fit Diesel jeans.
Answer:
Paradise Travel Service
Balance Sheet as of May 31, 20Y6:
Assets:
Cash $52,000
Accounts receivable 38,000
Supplies 3,000
Land 450,000
Total assets $543,000
Liabilities and Equity:
Accounts payable 18,000
Common Stock 100,000
Retained Earnings 425,000
Total liabilities and
equity $543,000
Explanation:
a) Data and Calculations:
Paradise Travel Service
Income Statement for the year ended May 31, 20Y6:
Fees earned $900,000
Office expense 300,000
Miscellaneous expense 15,000
Wages expense 450,000
Total expenses 765,000
Net Income $135,000
Statement of Retained Earnings for the year ended May 31, 20Y6:
Retained Earnings, June 1, 20Y5 $300,000
Net Income 135,000
Dividends 10,000
Retained Earnings, May 31, 20Y6 $425,000
b) The balance sheet shows the balances of assets, liabilities and equity at the end of an accounting period. It derives its name from the accounting equation, which states that assets = liabilities + equity. This equation implies that the two sides always balance each other.
Answer:
The correct answer is letter "C": decrease equilibrium price and increase equilibrium quantity
.
Explanation:
An increase in the number of sellers in a market of a certain good implies the quantity demanded for that good will increase, thus the equilibrium quantity will be higher. According to the demand law, if the quantity demanded goes up, the price is likely to decrease, so, the equilibrium price will be lower.
Thus, <em>the increase in sellers will raise the equilibrium quantity decreasing the equilibrium price.</em>
