Answer:
Option (a) is correct.
Explanation:
The company should use the taxable income of $305,600 to calculate it's income tax expense, as that is what they will actually have to pay in taxes after year-end.
Tringali report as its income tax expense for its first year of operations:
= Taxable income × Tax rate
= $305,600 × 36%
= $110,016 (Answer)
Answer:
Day order
Explanation:
This is a not held order which must be executed during that trading day. When a customer instructs their trader to execute a not-held order, they are valid only for that day. The exceptions to this rule would require that the customer specifically states a certain time period. Not held orders are instructions to buy or sell securities when the trader believes that the price is right.
Answer and Explanation:
The Journal entry is shown below:-
1. Amortization expense - copyrights $20,000 ($120,000 ÷ 6)
To copyrights $20,000
(Being amortization expense is recorded)
Here we debited the amortization expense - copyrights as expenses is increasing and we credited the copyrights as assets is decreasing.
2. Amortization expense - Patents Dr, $11,250 ($54,000 ÷ 4) × 10 ÷ 12
To Patents $11,250
(Being amortization expense is recorded)
Here we debited the amortization expense - patents as expenses is increasing and we credited the patents as assets is decreasing.
3. No Journal entry is required as IFRS good will is no longer granted to be amortized.
Answer:
<u>increases</u>
<u>decreases</u>
Explanation:
Whenever the price of a commodity that is perceived as an inferior good rises, because of its negative perception, it tends to now become a bit of a luxury good; and the income effect will tend to increase the quantity purchased (because when you have more income you can afford more expensive goods), while the substitution effect (which is the propensity of consumers switching to cheaper substitutes because of rise in price) will tend to reduce the quantity purchased.
Therefore, If bread is an inferior good and if the price of bread increases, the income effect <u>increases</u> the quantity demanded, and the substitution effect <u>decreases</u> the quantity demanded.
Answer:
B) because they felt it gave the United States too much leverage
Explanation:
William Taft succeeded Theodore Roosevelt as the president of the US, and Roosevelt got very involved in local politics in many Latin American countries, not only Central American countries. His Roosevelt Corollary wasn't very democratic at all, since the US self-imposed the right to act as the police and judge of what happened in Latin American countries. Taft followed Roosevelt's policies, so many Central American countries feared that the US would increase their involvement in local affairs.