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asambeis [7]
3 years ago
5

Cantlay, Inc., earns pretax book net income of $800,000 in 2019. Cantlay acquires a depreciable asset that year, and first-year

tax depreciation exceeds book depreciation by $80,000. Cantlay reported no other temporary or permanent book-tax differences. The pertinent U.S. Federal corporate income tax rate is 21% and Cantlay earns an after-tax rate of return on capital of 8%. What is Cantlay’s current income tax expense for the year?
Business
1 answer:
RideAnS [48]3 years ago
6 0

Answer:  $151,200

Explanation:

The Tax depreciation exceeds book depreciation so this excess will have to be removed from the income before tax is calculated as it is tax deductible.

Current Income Tax = (Pretax book income - Excess tax depreciation) * Income tax rate

= (800,000 - 80,000) * 21%

= $151,200

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Weekly activity reports by an agent to a client should include:_______.
stepan [7]

Answer:

- Number of enquiries

- Number of product displays

- Advertising done within the week

- Open houses available

- Number of open house visitors

- Comments made by other agents and potential buyers

Explanation:

Weekly activity reports are given to clients to show weekly progress on a job activity.

It ensures that there is no failure in objectives that will affect the monthly activity.

When it is identified that activities for the week are deviating from set goals and objectives, it is easy to correct the error so as to minimise the effect on monthly performance.

7 0
3 years ago
An economic term for any person who uses goods or services. Sometimes a consumer buys a good or service. Sometimes, the goods or
lesantik [10]

Answer: Consumer

Explanation:

If you are asking about what the economic term for any person who uses goods or services is, it is already included in your statement.

The person is a consumer as a consumer is the economic term for an entity that acquires goods and services whether freely or otherwise to use them for something be it personal or business in nature.

5 0
3 years ago
The key to understanding the money creation process is the fact that:______.a. since the money supply excludes cash but includes
nataly862011 [7]

Answer:

c. whenever banks create financial assets for themselves, they create financial liabilities for individuals, and those financial liabilities are considered money

Explanation:

c. whenever banks create financial assets for themselves, they create financial liabilities for individuals, and those financial liabilities are considered money

3 0
4 years ago
Read 2 more answers
If the company also has $1,000 of petty cash on hand (recorded in a separate account), what total amount should the company repo
vredina [299]

Answer:

Explanation: from the above question, the total of cash and cash equivalent to be recorded in the balance sheet includes all cash balances in the bank and cash balance in the petty cash account.

From the above question, the cash and cash equivalent balance as at April 30 is $1,000 plus all bank balances as at that date.

4 0
3 years ago
In a brainstorming session for a new drug to lower cholesterol, the members of the marketing department agreed the benefits of t
tiny-mole [99]

Answer: C- Encoding

Explanation: Encoding in communication is the process whereby the sender utilizes oral symbols like words, signs, pictures, videos, and non-oral symbols like body language, hand signals, facial expressions for which the sender believes the individual on the receiving side or audience will comprehend without misinterpreting.

It is the way of turning or transforming ideas into communication by using a channel that could be texts, phone calls or even in-person conferences. In this case, the marketing department decides to encode an ad campaign to the market so as to promote the new drug for lowering cholesterol.

8 0
3 years ago
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