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2 years ago

8

You're the manager at company x and have been tasked with creating a plan that has the purpose of establishing specific objectiv

es. this represents _____ planning
a. strategic
b. tactical
c. operational
d. contingency

1 answer:

mylen [45]2 years ago

4 0

A:strategic planning

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Gillock, Inc. uses MACRS for its income tax return and the straight-line method for its financial statements. On January 1, Year

Sloan [31]

Answer:

A deferred tax liability will be reported on the balance sheet

b) trademark

as longterm assets refers to those assets that will not become cash within a one-year period

Explanation:

As the accounting makes the depreciaiton of the asset among 8 years

while the MACRS (depreciaiton for tax purposes) does it in 5 years

the company will pay lower income taxes now but, higher in the future

creating a tax liability as the tax relief occurs now.

Calculations:

Account Depreciation Expense

(cost - salvage value )/ useful life =

(130,000 - 10,000)/ 8 years = 8,000

Tax-purpose depreciation expense

130,000 x 20% = 26,000

There is a tax difference of (26,000 - 8,000) x corporate income tax

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2 years ago

Andrea is an accountant who lives in the state of Texas. Which tax is she exempt from

USPshnik [31]

The correct answer is

c. Inheritance tax at the state level

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2 years ago

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Which of the following usually carries the highest interest rates?

AleksAgata [21]

Answer:

What is the following?

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Barbara opens a credit card with an apr of 19.99 how much is charged in interest this month if her balence is 1250?a. $19.99b. $

puteri [66]

Answer:

b. $20.82

Explanation:

The APR is the annual percent rate on a credit card. That is, Barbara's credit card has a 19.99% annual interest rate. In order to find the amount charged in interest for this month, we must find her monthly interest rate (m):

$m = \frac{APR}{12}\\m = \frac{19.99\%}{12}\\m=1.666\%$

Since her balance is 1250, her monthly interest is:

$I = B*m\\I = \$1250 *1.666\%\\I=\$20.82$

The answer is b. $20.82

8 0

2 years ago

On January 1, 2018, Alamar Corporation acquired a 45 percent interest in Burks, Inc., for $196,000. On that date, Burks's balanc

bezimeni [28]

Answer:

1. Dr Investment in Burks Inc $196,000

Cr Cash $196,000

2. Dr Investment in Burks Inc $42,300

Cr Investment income in Burks Inc $42,300

3. Dr Cash $9,000

Cr Investment income in Burks Inc $9,000

Explanation:

Preparation for Journal entries

1. Dr Investment in Burks Inc $196,000

Cr Cash $196,000

2. Dr Investment in Burks Inc $42,300

Cr Investment income in Burks Inc $42,300

3. Dr Cash $9,000

Cr Investment income in Burks Inc $9,000

CALCULATION for Journal entry (2)

Unadjusted Net income $81,000

Profit from sale of inventory to burks $13,000

(41,000-28,000)

Adjusted Net Income $94,000

Share of Alamar 45%

Share of Alamar in Burks Inc income $42,300

(94,000*45%)

CALCULATION for Journal entry (3)

Cash dividends $20,000

Share of Alamar 45%

Share of Alamar in Burks Inc dividends $9,000

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2 years ago