1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Varvara68 [4.7K]
4 years ago
11

Oriole Company made the following journal entry in late 2021 for rent on property it leases to Danford Corporation. Cash 153000

Unearned Rent Revenue 153000 The payment represents rent for the years 2022 and 2023, the period covered by the lease. Oriole Company is a cash basis taxpayer. Oriole has income tax payable of $233000 at the end of 2021, and its tax rate is 25%. Assuming the income taxes payable at the end of 2022 is $258000, what amount of income tax expense would Oriole Company record for 2022?
Business
1 answer:
Morgarella [4.7K]4 years ago
6 0

Answer:

$277,125

Explanation:

The calculation of  income tax expense is shown below:-

Income tax expense = Income taxes payable at the end of 2022 + (Rent revenue ÷ 2) × Tax rate

= $258,000 + (($153,000 ÷ 2) × 0.25)

= $258,000 + $76,500 × 0.25

= $258,000 + $19,125

= $277,125

Therefore for computing the income tax revenue we simply applied the above formula.

You might be interested in
When Treasury bills are auctioned off, if buyers are willing to pay $900 for a $1,000 treasury bill, the government is being ask
andriy [413]

The government is paying 10% in interest.

What interest on Treasury bills?

The interest on Treasury bills compares the interest earned by the investor to the face value of the T-bill, in other words, it is determined as the interest(i.e. face value-purchase price) divided by the face value.

From an investor's perspective, I mean the person  buy purchasing the T-bill, his rate of return is the interest divided by the amount invested, which is the purchase price.

Interest=face value-purchase price

face value=$1,000

purchase price=$900

interest=$1000-$900

interest=$100

government's interest rate=interest/face value

government's interest rate=$100/$1000

government's interest rate=10%

In other words, the government by a way of issuing the bills is paying interest of 10% to the lenders

Read more on bonds generally including government bond on:brainly.com/question/22013938

#SPJ1

4 0
2 years ago
Lewis is the manager of the marketing department at his company. Some of his colleagues are also his friends. Lewis often lets h
pshichka [43]

Answer: Justice.

Explanation:

Justice is not being totally applied by Lewis in controlling the marketing department, as he uses different controlling technique for his friends and a harsher control technique for others. For Lewis to be just, he has to apply same controlling techniques for all workers.

3 0
3 years ago
If a store adds 50 chairs to its current inventory, the total number of chairs will be the same as three-halves the current inve
max2010maxim [7]
To answer this item, we let x be the current number of chairs. After adding 50 chairs to the current inventory, the total number of chairs would then be equal to x + 50. The equation that would allow us to determine the value of x is written below.

     x + 50 = (3/2)(x)

Simplifying the equation,
   x + 50 = 3x/2
  x - 3x/2 = -50
   -x/2 = -50

Dividing both sides of the equation by -1/2, the value of x is equal to 100. 

To increase the inventory by 40%, the equation would be,
    y = x(1.4) = 1.4(100) = 140

<em>ANSWER: 140 chairs</em>
8 0
3 years ago
Explain how a manager at a Subway or any fast food restaurant restaurant can use feedforward control to get the best customer sa
egoroff_w [7]

Customer satisfaction is increased as a result of quality management, which also enables businesses to meet customer expectations. One of the key areas where businesses need to be knowledgeable enough is in the service quality.

<h3>What is Subway or any fast food restaurant?</h3>

One of the top brands on the global market is Subway, which places a high priority on maintaining the quality of its products and providing excellent customer service.

Some key features regarding the subway are-

  • It consistently emphasizes the quality of the ingredients as well as the eventual deliverables in its marketing methods.
  • The business is committed to providing natural food products that are healthful and free of artificial additives and calories.
  • The customers' health is directly correlated with the meal quality.
  • To remain competitive in the marketplace and achieve its goal of being the healthiest alternative in the fast food sector, the company must maintain the quality of the items.

To know more about the subway, here

brainly.com/question/27207234

#SPJ4

8 0
2 years ago
Gross domestic product (gdp) is the total market value of all intermediate and final goods and services produced by an economy i
MrMuchimi
A. true
the gross domestic product acts as a quantitative measure of an economy's economic activity on an annual basis

7 0
4 years ago
Other questions:
  • You have two options for credit cards. Option one offers a fixed annual percentage rate of 17%. Option two offers you an introdu
    15·2 answers
  • The set of business activities that add value to the end product is referred to as __________, in which information flows throug
    13·1 answer
  • Job A3B was ordered by a customer on September 25. During the month of September, Jaycee Corporation requisitioned $1,800 of dir
    10·1 answer
  • Your buddy in mechanical engineering has invented a money machine. The main drawback of the machine is that it is slow. It takes
    15·1 answer
  • Cool People publications focuses their marketing efforts on reaching African-American teenage girls. The firm believes that they
    14·1 answer
  • What is the purpose of the customs department of a country’s government?
    7·1 answer
  • g Suppose Marcia's Manioc Farm is a non-price discriminating monopolist producing manioc and is producing its profit-maximizing
    9·1 answer
  • Comfy Clothing is thinking of hiring Tom. If hired, he can increase total production by 100 units a week. He would cost the firm
    7·1 answer
  • Perfect Fit Company sells men's shirts and jeans. The average selling price and variable cost for each product follow: Selling p
    13·1 answer
  • Todays electronics specializes in manufacturing modern electronic components. It also builds the equipment that produces the com
    12·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!