1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
True [87]
3 years ago
13

Sweet Acacia Industries reported income taxes of $339,324,400 on its 2017 income statement and income taxes payable of $274,010,

600 at December 31, 2016, and $563,181,600 at December 31, 2017. What amount of cash payments were made for income taxes during 2017?
Business
1 answer:
S_A_V [24]3 years ago
5 0

Answer:

$50,153,400

Explanation:

The formula is to increase the income tax expense for the year by any decrease in income tax payable or decrease income tax expense by any increase in income tax payable for the year

Step 1: Calculate the Increase/Decrease in Income tax payable from 2016-2017

=Income tax Payable for 2017= $563,181,600

Income tax Payable for 2016= $274,010,600

=563,181,600-274,010,600= $289,171,000 - This represents an increase in income tax payable from 2016-2017

Step 2: Decrease the Reported Income Tax by the Increase in Income Tax payable as calculated in Step 1.

= $339,324,400-$289,171,000= $50,153,400

Cash Payments made for Income Taxes During 2017 is $50,153,400

You might be interested in
If the capital stock is fixed and something happens to raise the marginal product of capital (MPK) for any given quantity of cap
nadezda [96]

Answer:

D. rise

Explanation:

D. As per the study, marginal product theory suggests that, as the marginal product of capital (MPK) increases even if the capital stock is fixed or unchanged, the real rental will also be changed the same way i.e.  it will rise in this given scenario.

5 0
3 years ago
What is the payment you receive for allowing a financial institution or corporation to use your
padilas [110]

Answer:C

Explanation: I have worked for 3 banks over the course of the last 10 years.

5 0
3 years ago
A successful organization can involve its employees in the control system in all of the following ways EXCEPT
stiks02 [169]

D) regulating its behavior; involving employees in the control system is good for an organization but except in regulating its behavior.

More about Organizational Control System:

Organizational control system is crucial to understanding how the organization is doing, spotting problem areas, and then taking the necessary action.

There are three basic types of control systems available to executives:

Output control : The focus of output control is on quantifiable results for the organization. In output control, executives must choose the acceptable performance threshold, inform staff members of the general expectations, monitor whether performance metrics are in line with targets, and make any necessary adjustments.

Behavioral control: In contrast to output control, which focuses on results, behavioral control typically focuses on controlling the activities. Particularly, special procedures and regulations are utilized to shape or impose behavior.

Clan control: Clan control is a non-standardized type of control. It depends on shared traditions, expectations, values, and norms.

Complete Question:

A successful organization can involve its employees in the control system in all of the following ways EXCEPT

A) setting realistic performance results.

B) emphasizing development and improvement.

C) encouraging good communication and mutual participation.

D) regulating its behavior.

E) presenting data in understandable terms.

Learn more about Control System here:

brainly.com/question/26695325

#SPJ1

8 0
2 years ago
All else being equal, a company with a low operating leverage will have:
nlexa [21]

Answer:

c) relatively high variable costs

Explanation:

Operating leverage is a ratio that is used to analyze and understand the cost structure of a business. It gives the relation between the variable and fixed cost to the the total cost of running the business.

A business with a large amount of fixed cost relative to variable is said to have  a high operating leverage . For such business, operating income would  be more volatile because the operating income would not increase in commensurate proportion as sales revenue.

And a company with low operating leverage has low amount of fixed cost relative to variable cost and therefore a relatively high variable costs

Operating leverage is calculated as

Contribution /Earnings before interest  and Tax

5 0
3 years ago
After a large hotel chain discovered that their computer systems had been hacked and customer credit card information had been a
Gnesinka [82]
The hotel's quick action in response to a serious situation was likely due to CYBER SECURITY BREACH. It is a threat not only to the customers but to the hotel business as well because with this breach, customers will find it hard to trust said hotel again. 

Because confidential data like credit card information were stolen, they need to immediately inform their customers to ensure that the customers will take the necessary steps in protecting themselves from having their identity stolen and from having their credit cards used in purchasing items they are not aware off. 
4 0
3 years ago
Other questions:
  • What is the difference between the transactions display current and display at key date?
    5·1 answer
  • Valuing assets at their fair value rather than at their cost is inconsistent with the: periodicity assumption. full disclosure p
    12·1 answer
  • During the "night of broken glass" (november 9, 1938 adolf hitler ordered his brown shirts, the hitler youth, and gestapo to des
    15·1 answer
  • The manager of a local grocery store introduces a short conveyor belt that allows customers to place items on it prior to checki
    6·2 answers
  • Brand __________ is the set of assets and liabilities linked to a brand that add to or subtract from the value provided by the p
    11·1 answer
  • A think local, act local multidomestic strategy works particularly well when A. D) there are few country-to-country differences
    15·1 answer
  • In each part that follows, use the economic data given to find national saving, private saving, public saving, and the national
    8·1 answer
  • Scobie Company began 2016 with a retained earnings balance of $142,400. During an examination of its accounting records on Decem
    10·1 answer
  • Use the graph to answer the question that follows.
    13·1 answer
  • If government purchases increase by $10 billion and the economy's mpc is. 8, the aggregate demand curve will shift _____
    13·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!