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Anika [276]
2 years ago
6

(L.O. 2) Nolan Company sells its product on an installment basis, earning a $450 pretax gross profit on each installment sale. F

or accounting purposes the entire $450 is recognized in the year of sale, but for income tax purposes the installment method of accounting is used. Assume Nolan makes one sale in 2019, another sale in 2020, and a third sale in 2021. In each case, one-third of the gross sales price is collected in the year of sale, one-third in the next year, and the final installment in the third year. If the tax rate is 50%, what amount of deferred tax liability should Nolan Company show on its December 31, 2021 balance sheet:
Business
1 answer:
Maksim231197 [3]2 years ago
5 0

Answer:

$225

Explanation:

Calculation to determine what amount of deferred tax liability should Nolan Company show on its December 31, 2021 balance sheet:

Deferred tax liability =[ ($450/ 3) *50%]+ [($450 / 3 * 2) * 50%]

Deferred tax liability=$75+$150

Deferred tax liability = $225

Therefore the amount of deferred tax liability should Nolan Company show on its December 31, 2021 balance sheet is $225

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A random sample of 30 lunch orders at noodles and company showed a mean bill of $10.36 with a standard deviation of $5.31. find
Paladinen [302]

The formula for calculating the Confidence Interval is as follows:

Confidence Interval = x +- (z*s)/√N

Where:

x = mean = 10.36

z = taken from standard normal distribution table based on 95% confidence level = 1.96

s = standard deviation = 5.31

N = sample size = 30

Substituting know values on the equation:

Confidence Interval = 10.36 +- ( 1.96 * 5.31) / √30

Confidence Interval = 8.46 and 12.26

Hence the bill of lunch orders ranges from 8.46 to 12.26.

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4 0
3 years ago
You need to accumulate $10,000. To do so, you plan to make deposits of $1,100 per year - with the first payment being made a yea
guapka [62]

Answer:

Explanation:

Using future annuity formula

Fv = Pmt ( (1+r)ⁿ -1 )/ r

\frac{FVr}{Pmt}  + 1 = (1+r)ⁿ

In ( \frac{FVr}{Pmt} + 1) = n In ( 1+r)

n =  In ( \frac{FVr}{Pmt} + 1)  / In ( 1 + r)

FV, future value = $10,000, Pmt, periodic payment per year = $1,100, r rate = 11.82% = 0.1182 and n =  number of years

n = 0.7297 / 0.11172 = 6.53 years approx 7 years

the last year payment will actually be less than $1,100

6 0
3 years ago
Consider two economic regions, region A and region B. If region A has strict union protection laws present, while region B lacks
barxatty [35]

Answer:

higher unemployment rate

Explanation:

The economic region, A, where there is the presence of strict union protection laws, is most likely to experience increase unemployment rate compared to region B where there is the absence of strict union protection laws.

Unions most times favor those who are currently employed as opposed to those who are searching for jobs. They try to reduce wage inequality between low and middle wage workers and high- wage workers, this most times leads to increase in wages above the equilibrium level. This further result to the decline of amount of labor required hence leading to unemployment.

4 0
3 years ago
Read 2 more answers
Gander, an apparel company, is known to be a profit-hungry company. It lands in a controversy when it comes to light that the co
Otrada [13]

Answer:

Legal but Unethical

Explanation:

Based on the information provided within the question it can be said that Gander's business conduct is Legal but Unethical. It is legal because since it is a developing country there is most likely no law against the amount that the company's must pay employees. On the other hand it is unethical because the company is taking advantage of the necessity of the workers and is paying them nonliving wages.

If you have any more questions feel free to ask away at Brainly.

7 0
3 years ago
A ______ exists when there is a substantial difference between an expected condition and the actual condition.
KiRa [710]
The answer to this question is a problem.

Problem is a situation that everybody encounters that is needed for a solution or a specific result. Problems cannot be ignored or avoided, a person should should know how to solve it and deal with the problem once it hits you. In order to deal with problems, a person should always focus on the outcome and the possible solution to it.
5 0
3 years ago
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