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]
3 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]3 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
What is meant by accounting
abruzzese [7]

Answer:

accounting is a process of analysis and summarising business and financial transactions and verifying the reporting the results...

follow me

7 0
2 years ago
If the average wage paid to the worker was $20 in the year 1990 and $30 in the year 2000, then the average worker in the year 20
True [87]

Answer:

False

Explanation:

Purchasing power is related to real income and not to nominal income. Even though workers had a $10 increase in their average nominal income, due to the effects of inflation, that increase does not necessarily reflect an improve in purchasing power.

The statement is false.

7 0
3 years ago
The "decision model that computes the difference between the present value of the investment's net cash inflows, using a desired
DIA [1.3K]

Answer:

C) Net present value

Explanation:

In this method, the initial investment is subtracted from the discounted present value cash inflows. If the amount comes in positive than the project is beneficial for the company otherwise not.

And, the internal rate of return is that return in which the Net present value come zero.

The average rate of return shows a ratio between the average net profit and the average investment.

In mathematically,

Net present value = Present value of all yearly cash inflows after applying discount factor - initial investment

7 0
3 years ago
PLEASE HELP ASAP BRAINLIEST TIMED TEST PLZZZZZZZ HELP HURRY React to the quoted statement. Defend your opinion: “My feelings are
vaieri [72.5K]
<h2>Yes I keep my feeling controlled by "Intrapersonal intelligence"</h2>

Explanation:

The term "Intrapersonal" intelligence might be something new but it is one of the soft skill which completely talks about "Personal emotions"

It is highly difficult to manage feelings both which are positive and negative in nature but a person who can control the emotions are the best leaders and most successful person. So a person who possess good "intrapersonal" skills will never yell at anyone or hurt anyone at work and will find other possible ways to solve it or pin point about the mistake.

4 0
3 years ago
You are choosing between these four investments and you want to be​ 95% certain that you do not lose more than 8.00 % on your in
Ainat [17]

Answer:

Corporate Bonds and T-Bills will have return above 8%

Explanation:

given data

investments  = 4

investment = 8 %

solution

first of all we get  95% confidence interval that is as

and here  investment returns and standard deviation are attach so

95% confidence interval = Return - 2 × SD to Return + 2 × SD    ................a

so here

we can see here as per table attach

here only Corporate Bonds and T-Bills will have return above 8%    

8 0
3 years ago
Other questions:
  • The risk-free rate of return is 3% and the expected return on the market portfolio is 14%. Oklahoma Oilco has a beta of 2.0 and
    6·1 answer
  • Suppose that the market price of Company A is $50 per share and that of Company B is $20. If A offers half a share of common sto
    11·1 answer
  • jason works for a restaurant that serves only organic, local produce. what trend is this buisness following
    14·1 answer
  • Place the following steps for a personal financial plan in the proper order: 1. Review and revise the financial plan 2. Identify
    10·1 answer
  • A key element in any e-mail marketing strategy is to obtain customers' approvals before sending them any e-mail that includes a
    12·1 answer
  • The following information is available for a company's utility cost for operating its machines over the last four months. Month
    12·1 answer
  • • Explain the process of copying and pasting from one picture to another one.
    14·2 answers
  • If the price level is fixed and autonomous expenditures rise by $40, then the multiplier model would predict that the aggregate
    13·1 answer
  • Enter a formula in cell B1 using the SUMPRODUCT function to calculate the total value of the current leases by multiplying the c
    12·1 answer
  • What is an essential feature of a market economy?
    13·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!