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goblinko [34]
2 years ago
8

I need help no rush.

Business
2 answers:
Digiron [165]2 years ago
6 0

Answer:

it is b because he has the less amount of flips

tigry1 [53]2 years ago
4 0

Answer:

Collin

Explanation:

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The following facts relate to Coronado Corporation.
elena-14-01-66 [18.8K]

Answer: See explanation

Explanation:

a. Prepare the journal entry to record income tax expense, deferred income taxes, and income taxes payable for 2020.

Debit Income Tax Expense $40400

Debit Defered Tax Asset $7070

Credit Income Tax Payable $19190

Credit Defered tax liability $28280

(To record income tax expense and defered tax/liability).

Note that:

Income Tax Expense was gotten as:

= $202,000 × 20%

= $202000 × 0.2

= $40,4000

Income Tax Payable was gotten as:

= $95,950 × 20%

= $95950 × 0.2

= $19,190

2. Prepare the income tax expense section of the income statement for 2020.

Income statement for year ended 31 December 2020

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Less: Income Tax expense - Defered = $21210

Net income = $161600

6 0
2 years ago
Barney, a manager, is very conventional, resistant to change, habitual, and does not accept new ideas very easily.This implies t
inna [77]

Answer:

A

Explanation:

7 0
2 years ago
Each parcel of land in a new development is selling for $15,000 and the total project revenue is estimated to be $5,000,000. The
USPshnik [31]

Answer:

The release price for each parcel is $13,215.

Explanation:

Release price for each parcel = [3500000/(5000000*80%)]*15000

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Therefore, The release price for each parcel is $13,215.

5 0
2 years ago
Cherokee Inc. is a merchandiser that provided the following information: Number of units sold 20,000 Selling price per unit $ 30
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In order to find Net Income as per traditional income statement, we will first require to calculate cost of goods sold as below:

Beginning Merchandise Inventory................................................24000

Add: Purchases..................................................................................180000

Less: Ending Merchandise Inventory...........................................(44000)

Cost of Goods Sold............................................................................160000

Traditional Income Statement

Sales................................................................................................................600000

Less: Cost of Goods Sold..........................................................................(160000)

Gross Profit....................................................................................................440000

Less: Selling and Administrative Expenses

Variable Selling Expense.........................................................80000

Variable Admin Expense............................................................40000

Fixed Selling Expense.................................................................40000

Fixed Admin Expense...................................................................30000

Total .......................................................................................................................(190000)

Net Income.............................................................................................................250000

3 0
3 years ago
Read 2 more answers
You currently have a​ one-year-old loan outstanding on your car. you make monthly payments of $ 400$400. you have just made a pa
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<span>If I have a one year loan outstanding on my car and make monthly $400 payments, my timeline would include twelve equal payments of $400 starting now. The bank's timeline would be the same twelve equal installments of $400 but they would be cash inflows since I am paying the money to the bank. I would consider the $400 a cash outflow.</span>
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