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otez555 [7]
3 years ago
15

Millie Co. completed its first year of operations on December 31, 2017, with pre-tax financial income of $400,000. Millie accrue

d a contingent liability of $900,000 for financial reporting purposes; however, the $900,000 will be paid and therefore is deductible for tax purposes in 2018. Millie also has gross profit of $800,000 from certain sales recognized currently for financial reporting purposes but that will be taxable as installment sales in 2018 and 2019 when the cash is received ($400,000 each year). Millie’s pre-tax financial income includes $38,000 interest earned on its holdings of the bonds of the State of Montana. The tax rate is 35% for all years. Required: Determine Millie’s taxable income and taxes due for 2017. Determine the changes in Millie’s deferred tax amounts for 2017. Calculate tax expense for Millie for 2017.
Business
1 answer:
alisha [4.7K]3 years ago
7 0
Thank ya son I love y’all so
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I believe the answer is wheel network.
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3 years ago
Cosmetics firm SatinSilk is revamping its mission statement and advertising strategy. The planning team comes up with a list of
Sergio [31]

Cosmetics firm SatinSilk is revamping its mission statement and advertising strategy.The planning team comes up with a list of options for the new mission statement.The CEO stresses that the new mission statement should be market-oriented rather than product-oriented.Which of the following mission statements should the company pick?

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C)to give customers the complexion they dream about by providing a range of products suited to their needs .

5 0
3 years ago
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svet-max [94.6K]

Answer:

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zvonat [6]

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3 0
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C Medicare insurance

Or

B Life Insurance card.
8 0
3 years ago
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