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Elis [28]
3 years ago
5

At the end of the year, the deferred tax asset account had a balance of $12.8 million attributable to a cumulative temporary dif

ference of $32 million in a liability for estimated expenses. Taxable income is $38.0 million. No temporary differences existed at the beginning of the year, and the tax rate is 40%.Prepare the journal entry(s) to record income taxes assuming it is more likely than not that one-fourth of the deferred tax asset will not ultimately be realized.NOTE:These are the correct entries, I am just missing the values (DTA is NOT zero):Debit: Income Tax Expense ______Debit Deferred Tax Asset _____Credit: Income Tax Payable 15.2Debit: Income Tax Expense _______Credit: Valuation Allowance - Deferred Tax Asset _______

Business
1 answer:
adoni [48]3 years ago
3 0

Answer:

Please see attachment.

Explanation:

Please see attachment.

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Aria Acoustics, Inc. (AAI), projects unit sales for a new seven-octave voice emulation implant as follows:
jeka94

Solution:

NPV is calculated as:

NPV = \frac{C1}{1+r} +\frac{C1}{(1+r)^{2} } +\frac{C1}{(1+r)^{3} } + ....... + \frac{C1}{(1+r)^{n} } - A

Initial investment = $16,500,000

Depreciation table:

Recovery Year    7-Year %    Depreciation Booked   Asset Book

                                                                                   Value at the end of Year

1                             14.29            $ 3,029,480               $ 18,170,520

2                            24.49             $ 5,191,880               $ 12,978,640

3                            17.49             $ 3,707,880               $ 9,270,760

4                            12.49             $ 2,647,880               $ 6,622,880

5                             8.93              $ 1,893,160               $ 4,729,720

6                             8.92              $ 1,891,040              $ 2,838,680

7                             8.93               $ 1,893,160                $ 945,520

8                            4.46               $ 945,520                    $ 0

Book value at the end of 5 years  =  $ 4 , 729 , 720

After tax salvage value   =  25 %  ∗  $ 21  , 200 , 000  −  ( 25 %  ∗ $  21,200,000) - $4,729,720 ) * 30%

=  $ 5, 128 ,916

Sales table:

Year           Unit Sales

1                   83,000

2                  96,000

3                 1,10,000

4                  1,05,000

5                   86,000

We calculate the free cash flow of the project : ( Check the attachment )

1)

Using NPV formula

NPV = − $ 7 , 328 , 810.58

2)

IRR is the discount rate (R) when the NPV of the project will be equal to zero.

Solving the equation (1) for R we get:

R = 3.93%

So IRR of the project = 3.93%

4 0
3 years ago
While calculating the costs of products and services, a standard costing system ________. does not keep track of overhead cost t
zepelin [54]

Answer:

uses standard costs to determine the cost of products

Explanation:

In the case when we determined the cost of the product and its services so here the standard costing system would be used to measure the cost of product as this is the costing system that are based upon the estimated or predicted values and are significant for generating a product

4 0
2 years ago
Margie noticed that sales of her company's newest bicycle product are much higher than anticipated. She wants to investigate why
Vladimir79 [104]

<u>The answer is "b. sales analysis".</u>


Sales analysis analyzes deals reports to perceive what goods and services have and have not sold well. The investigation is utilized to decide how to stock, how to gauge the viability of a business drive, how to set assembling limit and to perceive how the organization is performing against its objectives.  

Normally a sales analysis will contrast one time span with a comparable period before.

5 0
3 years ago
Read 2 more answers
Ana was complaining about her workload before the staff meeting began. Later, when the manager announced that twelve parking spa
Slav-nsk [51]

The complete question is:

Ana was complaining about her workload before the staff meeting began. Later, when the manager announced that twelve parking spaces would be lost as a result of construction across the street, she raised her hand and said, "Then where, exactly, do you expect us to park?" The manager tried to provide some recommendations, but Ana continued to complain until the manager gave up and announced that the meeting was over.

What should Ana do to make the next meeting more effective and productive?

Answer:

Bring a positive attitude

Explanation:

In this scenario Ana was already frustrated by the excess workload she has before attending the meeting. So when the manager raised the issue of construction affecting parking spaces she expressed a negative reaction, and kept complaining until the manager gave up and announced that the meeting was over.

For the next meeting to be more productive Ana should bring a positive mindset, and consider recommendations provided by the manager.

This will result in her working collaboratively with the manager to find solutions to the parking space problem.

7 0
2 years ago
Describe three investments
abruzzese [7]

Answer: Stocks, real estate, and precious metals are all ownership investments. The buyer hopes that they will increase in value over time. Lending money is an investment. Bonds and even savings accounts are loans that earn interest over time for the investor.

Explanation:

7 0
2 years ago
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