<h2>Hey there! </h2>
<h2>I guess the correct option is:</h2>
<h3>"C. Medium term" </h3>
<h2>Mark me as a brain list </h2>
Answer:
$1,620,000
Explanation:
Assume that Sharp operates in an industry for which NOL carryback is allowed.
In its first three years of operations Sharp reported the following operating income (loss) amounts: 2019 $ 1,350,000 2020 (3,150,000 ) 2021 5,400,000
There were no deferred income taxes in any year. In 2020, Sharp elected to carry back its operating loss.
The enacted income tax rate was 25% in 2019 and 30% thereafter.
In its 2021 balance sheet, what amount should Sharp report as current income tax payable is the applicable tax rate for 2021 applied on the income of the year: 30% x 5,400,000 = $1,620,000
A person may choose to rent instead of buying a property as they can't afford a down payment
Answer:
Explanation:
short term debt is debt that needs to be paid off in a short term. for example bank loans
