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Rus_ich [418]
3 years ago
10

Isaac Inc. began operations in January 2021. For some property sales, Isaac recognizes income in the period of sale for financia

l reporting purposes. However, for income tax purposes, Isaac recognizes income when it collects cash from the buyer's installment payments. In 2021, Isaac had $676 million in sales of this type. Scheduled collections for these sales are as follows:
2021 $83 million
2022 137 million
2023 129 million
2024 162 million
2025 165 million
$676 million

Assume that Isaac has a 25% income tax rate and that there were no other differences in income for financial statement and tax purposes.

Required:
What deferred tax liability would Isaac report in its year-end 2021 balance sheet?
Business
1 answer:
Sati [7]3 years ago
8 0

Answer:

$148.3 million

Explanation:

Calculation to determine the deferred tax liability that Isaac would report in its year-end 2021 balance sheet

Using this formula

Deferred tax liability=Total future taxable income × Tax rate

Let plug in the formula

Deferred tax liability=(2022 137 million+2023 129 million+2024 162 million+2025 165 million)*25%

Deferred tax liability=$593 million*25%

Deferred tax liability=$148.3 million

Therefore the deferred tax liability that Isaac would report in its year-end 2021 balance sheet is $148.3 million

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When examining the​ person-job fit of someone who is high in​ extroversion, we might expect that people high in extroversion wou
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Answer: Dependable on communication

Explanation:

An extrovert is a person who is at ease with communication, working in a company whose culture is effective communication will be a great fit.

7 0
3 years ago
An electronics manufacturer in Norway has developed a training program to train its support staff in foreign markets on the repa
AleksAgata [21]

Answer:

The correct answer is B) support services.

Explanation:

The main purpose of this model is to provide knowledge to collaborators so that they can provide the support service in the correct way. When any breakdown occurs in the electronic products, the buyer goes to the service centers recognized by the manufacturer in order to solve the problem with the product, for which it is necessary to train all the personnel looking for an effective and quality.

7 0
3 years ago
Read 2 more answers
Distinguish between the resource market and product market in the circular flow model. In what way are businesses and households
Firlakuza [10]

Answer:

Resource Market : <u>Sellers (households)</u> sell factors of production to <u>buyers (businesses)</u>, in return of factor incomes.  

Product Market : <u>Sellers (businesses)</u> sell goods & services to <u>buyers (households)</u>, in return of price expenditure for goods & services.

Explanation:

Circular flow of Income is flow of payments & receipts for goods, services & factor services between sectors (firms & households) of economy.

Households sell factors of productions i.e land, labour, capital, entrepreneur to buyers businesses . They get factor incomes i.e rent, wages, interest, profit in return from them .

Businesses sell goods & services to buyers households. Households spend factor incomes earned from supplying production factors, in paying prices for those goods & services.

Product Market : Involves flow of factor services, final products & services - from households to firms, from firms to households respectively.

Money Market : Involves flow of monetary factor payments, prices expenditure- from firms to households, from households to firms respectively

6 0
3 years ago
Consider the following threeminusyear project. The initial afterminustax outlay or afterminustax cost is​ $1,500,000. The future
Elan Coil [88]

Answer:

1.875 years

Explanation:

The payback period is the period required for a project to repay its initial investments.

Pay back period = initial investments/ initial investments

In this case: Initial investments: $ 1,500,000.00

cash flows :

Year       initial invest Accumulated Depreciation

0     ( 1,500,000.00)  (1,500,00.00

1     800,000    800,000

2     700,000   700,000/800,00

Payback period = 1 year + 700,000/800,000

   = 1.875 years

8 0
3 years ago
a stock currently sells for $30 per share and pays $1.00 per year in dividends. what is an investor's valuation of this stock if
WINSTONCH [101]

An investor's valuation of this stock if he expects it to be selling for $37 in one year and requires a 12 percent return on equity investments would be $33.93.

Valuation of stock: 0.12 = ( 37 - P + 1 )/P

= 1.12P = 38. So, P = $33.93

An equity investment is a cash put into a business through the purchase of its stock on the stock exchange. On a stock exchange, these shares are typically traded.

Private equity investments, preferred shares, retained earnings, and equity mutual funds are a few examples of equity investments. A variety of advantages, including risk diversification, straightforward transfer, profitability, and simple monitoring, come with an equity investment.

To learn more about Equity investments visit: brainly.com/question/28191214

#SPJ4

3 0
1 year ago
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