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NikAS [45]
3 years ago
11

Giada Foods reported $1,010 million in income before income taxes for 2021, its first year of operations. Tax depreciation excee

ds depreciation for financial reporting purposes by $170 million. The company also had non-tax-deductible expenses of $108 million relating to permanent differences. The income tax rate for 2021 was 25%, but the enacted rate for years after 2021 is 30%. The balance in the deferred tax liability in the December 31, 2021, balance sheet is:
Business
1 answer:
Fiesta28 [93]3 years ago
6 0

Answer:

$32.4 million

Explanation:

The computation of the balance in the deferred tax liability in the December 31, 2021, balance sheet is shown below:

Deferred tax liability  is

= Tax depreciation exceeded depreciation for financial reporting purposes × enacted tax rate

= $108 million × 30%

= $32.4 million

Simply we multiplied the exceeded amount with the enacted rate so that the deferred tax liability could come

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A paying any taxs that are due on the estate
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3 years ago
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Concord Company has completed all of its operating budgets. The sales budget for the year shows 50,640 units and total sales of
marta [7]

Answer

The answer and procedures of the exercise are attached in the following archives.

Explanation  

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3 0
3 years ago
1. What is the incremental manufacturing cost incurred if the company increases production from 29,750 to 29,751 units
Alex

Answer:

$17.90  

Explanation:

The below is missing from the question:

Kubin Company’s relevant range of production is 28,000 to 31,500 units. When it produces and sells 29,750 units, its average costs per unit are as follows:

Amount per Unit

Direct materials  $8.80

Direct labor $5.80

Variable manufacturing overhead $3.30

Fixed manufacturing overhead $ 6.80

Fixed selling expense $ 5.30

Fixed administrative expense $ 4.30

Sales commissions $ 2.80

Variable administrative expense $ 2.30

In order to determine the incremental manufacturing cost by increasing the volume of production from  29,750 to 29,751 units, we simply compute the extra variable cost of producing one extra unit since 29,751 units are still within the relevant range of output, no extra fixed costs would be incurred.

extra cost per unit=direct materials+direct labor+Variable manufacturing overhead

Sales commissions and Variable administrative expense are not included because they are not manufacturing costs

extra cost per unit= $8.80 +$5.80 +$3.30 =$17.90  

8 0
3 years ago
Problem 15-10 The term structure for zero-coupon bonds is currently: Maturity (Years) YTM (%) 1 4.1 % 2 5.1 3 6.1 Next year at t
lutik1710 [3]

Answer:

Explanation:

a.) What do you expect the rate of return to be over the coming year on a 3-year zero-coupon bond? (Round your answer to 2 decimal places. Omit the "%" sign in your response.)

Expect the rate of return to be over the coming year on a 3-year zero-coupon bond = 6.1%

b) Under the expectations theory, what yields to maturity does the market expect to observe on 1- and 2-year zeros at the end of the year?(Round your answers to 2 decimal places. Omit the "%" sign in your response

Yields to maturity does the market expect to observe on 1-year at the end of the year = (1+5.1%)^2/(1+4.1%) - 1  = 6.11%

Yields to maturity does the market expect to observe on 1-year at the end of the year = 6.11%

Yields to maturity does the market expect to observe on 2-year at the end of the year = ((1+6.1%)^3/(1+4.1%))^(1/2) - 1

= 7.11%

Yields to maturity does the market expect to observe on 2-year at the end of the year = 7.11%

2b) Is the market's expectation of the return on the 3-year bond greater or less than yours?

Greater

3 0
3 years ago
Should the U.S. trade with Canada? If so, what should be imported and what should be exported?
Darya [45]
Nah I don’t think the us really needs to trade with Canada
4 0
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