Answer:
1 . Dr ncome tax expense 7
Dr Deferred tax asset 4
Cr Income tax payable 11
2. Dr Income tax expense3
Cr Valuation allowance-Deferred tax asset3
Explanation:
Preparation of Journal entries
JournalDebitCredit
(In million)
1 . Dr ncome tax expense 7
($11-$4=7)
Dr Deferred tax asset 4
($16× 25% = $4)
Cr Income tax payable 11
($44 × 25% = $11 )
2. Dr Income tax expense3
Cr Valuation allowance-Deferred tax asset3
(3/4 × $4) = $3 million
Deferred tax asset= ($16× 25%)
Deferred tax asset= $4 million
Income tax payable= ($44 × 25%)
Income tax payable= $11 million
Answer:
the first one
Explanation:
because the other ones don’t really make sense because cars and refrigerators are not very energy efficient, costs of cars and refrigerators are higher bc they are important and they don’t have to be custom produced
Answer:
Option A is correct which states that".There is no such thing, in IASB standards, as a "contingent asset"
Answer:
the layoffs were instances of employment at will
Explanation:
GEM Manufacturing's defense would most likely be that the layoffs were instances of employment at will.
Employment at will is a situation where a worker may be dismissed by an employer for any reason that may not be illegal and at anytime.
The Employers, in this question for example, terminated the relationship because of slowdown in sales. And this action affected the two employees with poorest attendance.
Answer:
C. shortage of skilled labor.
Explanation:
The invention of high-tech (computers, biotechnology, robots, drones, self driving vehicles and so an) is reducing the involvement of skill human labor which will continue incoming years. For example humans carryout the task of carrying-out calculation several years ago, but in recent years computers carry out such works and at a faster pace. Also routine human works such as arranging, bottling, pasting of labels can be carried-out by well programmed out and trained robots. These and many more will cause the shortage of labor(human) in coming years.
