Answer:
$1,200,000
Explanation:
Estimated Letigation Expenses 4,000,000.00
Tax Rate 30%
Deferred Tax Assets 1,200,000.00
Estimated Litigation Expenses which is disallowed for tax purposes will be future deductible expenses when we will make the actual payment of the liability. So the Tax liability in the future year will decrease, so we will make the Deferred Tax Assets for this.
Therefore, The deferred tax liability to be recognized is 1,200,000
Strategic planning
Explanation:
Process to identify the external and internal conditions of the organisation, determine a strategy and goal, formulate general goals, establish and choose general approaches, and allocate resources for the organization's objectives.
Strategic planning is the method of documenting and guiding the small company— by evaluating where they are and where they're going. The strategic plan actually provides them with the opportunity to record the mission, vision and principles and their lengthy-term goals and intervention plans to achieve them.
Answer:
Economies of Scale refer to the cost advantage experienced by a firm when it increases its level of output. The advantage arises due to the inverse relationship between per-unit fixed cost and the quantity produced. The greater the quantity of output produced, the lower the per-unit fixed cost.
Explanation:
Answer:
a. It is a collection of all accounts with their activity and balances that exist in a business. - A general ledger
The General Ledger is the central record in an accounting system and contains a record of all financial transactions in the company.
b. It is a book of original entry that includes a chronological record of all transactions that Have occurred within a business during a period occurred. - A Journal
When a transaction takes place in a business, it is recorded first in a Journal. As such, a journal contains a chronological record of all transactions that have occurred within a business during a period occurred.
c. It is a list of each account and its balance at any given time and is used to verify that debits = credits
. - Trial Balance
The Trial Balance helps a business balance its debits and credits by listing them so then equating them to verify that indeed the debits match the credits.
d. It is a list of all ledger accounts which exist in a business and includes an identification number assigned to each account
. - A chart of accounts
