Answer:
1) deferred tax asset = 4000
2) deffered tax Liability = 4000
Explanation:
1) Journalizing entry at 12/31/2017
deferred tax asset = tax ( per income tax) - tax ( per book tax )
= 32000 - 28000 = 4000
J<u>ournal Entry made for Income tax and deferred tax asset)
</u>
Account Debit Credit
Income Tax Expense 28000
Deffered Tax Asset 4000
Income Tax Payable
32000
2) Journalizing entry at 12/31/2018
Deffered tax Liability = Tax (per book) - Tax ( Income tax )
deffered tax Liability = 32000 - 28000 = 4000
<u>Journal Entry made for Income tax and deffered tax liability</u>
Account Debit Credit
Income Tax Expense 32000
To Deffered Tax Liability 4000
To Income Tax Payable 28000
Answer:The value of cars produced by a Japanese company are part of United States Gross Domestic Product (GDP) as long as the cars are produced in a factory located within U.S. territory.
The reason why is that GDP includes the final value of all goods and services produced within a country, during a specific period of time (usually a year). If the cars are produce in U.S. territory, they are counted as part of U.S. GDP, even if the company is from Japan or any other country.
Explanation:
In 1888, Thomas Adams was the first person to build a vending machine that dispensed chewing gum. The gum, named Tutti-Frutti, was available around New York City subway stations.
The lowest fees for investors are typically found in a type of passive investing called the Index Fund investing.
Answer:
The correct statement is; Limited liability is an advantage of the corporate form of organization to its owners (stockholders), but corporations have more trouble raising money in financial markets because of the complexity of this form of organization.
Explanation:
A limited company can either be private or public. A limited company posses these 2 key features namely;
1. Limited liability- the liability of shareholders is limited to the amount of their investment in the company.
2. Seperate legal existence- a limited company can in it's name sue, be sued and enter into contracts.
Limited liability means that the investors can only lose the money they have invested and no more, meaning lenders have to keep this in mind when issuing loans to limited companies.
