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
den301095 [7]
3 years ago
11

Determine income tax expense under the current situation:Taxable income during the year: $220 millionChange in future taxable am

ounts during the year: $16 millionTax rate: 25%.
Business
1 answer:
MatroZZZ [7]3 years ago
7 0

Answer: $51 million

Explanation:

Based on the values given in the question, the income tax expense would be calculated as:

Taxable Income = $220 million

Less : Deferred Income = $16 million

Form the above, we would then calculate the tax expense as:

= 25% × ($220 - $16)

= 25% × $204 million

= 0.25 × $204 million.

= $51 million

You might be interested in
An open market purchase by the fed has a tendency to:
andrew-mc [135]
An open market purchase by the fed has a tendency to:A.  increase the demand for bonds, drive up bond prices, and <span>raise interest rates

</span><span>In open market purchase, the government will sell an investment in the form of bond or other government securities to the market.
When this happen, the demands for government securities will be increased, which lead to an increse in all the bond price due to the high demand.
All of these will increase the amount of money in circulation , which will lead to an increase in interest rates

</span>
4 0
3 years ago
Brenda sold investment land for $200,000 in June. Her basis in the land was $75,000. The purchaser paid Brenda $40,000 cash and
spayn [35]

Answer:

b. $37,500

Explanation:

a. Realized gain = (cash down payment + Purchase Note ) - Adjusted Tax basis

=(40000+ 160000)-75000

= 200000 - 75000

= 125000$

Gross profit percentage = profit /sales

=125000 / (40000 + 160000)

=125000 / 200000

=62.5%

year 1 Realised gain =   downpayment * 62.5%

= 400000 *62.5%

=25,000$

Realised gain = installment payment * 62.5%

= 20000 * 62.5%

= 12,500$

i.e 37,500$

4 0
3 years ago
As is the case within all service organizations, employees at Wegmans develop a perception of the company’s service practices an
d1i1m1o1n [39]

Answer:

<u>climate for service.</u>

Explanation:

The climate for service in an organization refers to organizational aspects that are shared by all employees, they are the organizational culture, the policies, the communication process, the management model, the organizational strategy. All these aspects will influence the perception of employees, so it is important that the organizational culture is focused on the positive motivation and appreciation of the professional, because it is essential that the employee identify with the business values, feel motivated and valued to exercise and value. develop their competencies for the accomplishment of the organizational mission.

6 0
3 years ago
Do you think that some has rights to intellectual property in today’s world?
Mekhanik [1.2K]
If the person created it or is in the family then yes
6 0
3 years ago
Which of these have played the greatest role in the spread of information in the 21st century?
gavmur [86]
I believe the answer is television
5 0
3 years ago
Read 2 more answers
Other questions:
  • Lean AccountingCom-Tel Inc. manufactures and assembles two models of smartphones-the Tiger Model and the Lion Model. The process
    10·1 answer
  • The following information is available on a depreciable asset owned by Mutual Savings Bank: Purchase date July 1, Year 1 Purchas
    13·1 answer
  • The most popular entertainment resort in the world is _____. the Las Vegas Strip SeaWorld Hershey Park Walt Disney World Resort
    11·2 answers
  • The following monthly data are available for Crane Company. which produces only one product: Selling price per unit, $38; Unit v
    7·1 answer
  • Glubert Corp., an adhesive manufacturing company, makes a deal with an insurance company to provide its employees with life insu
    13·1 answer
  • At the end of its first year, the trial balance of Nygaard Company shows Equipment 532,900 and zero balances in Accumulated Depr
    5·1 answer
  • Impact on Corona virus as one of the socio-economic issues on business​
    6·1 answer
  • Rajiv Financial Services had a cash balance on March 1, 2013 of $1,002,988. Its cash receipts for the month of March totaled $2,
    12·1 answer
  • What is marketing shortly ​
    5·1 answer
  • 25 points !Please answer thank you !!!!
    11·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!