Answer:
Answers are available in the attached images
Explanation:
This question is incomplete. I will type the complete question below and add image attachments of the solution as tabulated journal entries are required.
At the end of 2017, Payne industries had a deferred tax asset account with a balance of $26 million attributable to a temporary book tax difference of $65 million in a liability for estimated expenses. At the end of 2018, the temporary difference is $60 million. Payne has no other temporary differences and no valuation allowance for the deferred tax asset. Taxable income for 2018 is $220 million and the tax rate is 40%. Required:
1. Prepare the journal entry(s) to record Payne’s income taxes for 2018, assuming it is more likely than not that the deferred tax asset will be realized.
2. Prepare the journal entry(s) to record Payne’s income taxes for 2018, assuming it is more likely than not that one-fourth of the deferred tax asset will ultimately be realized.
Answer:
True
Explanation:
Firstly, we need to understand what a regression model is?
A regression model is a mathematical tool that is used to show the extent of agreement between the dependent and the independent. To show the extent of this agreement, it tends to take into consideration several independent variable that affect the dependent variable.
The regression model can be based on one independent variable or several independent variables. When based on one independent variable, this is a simple linear regression model. If it is a case where we are considering more than one independent variable, it is a multiple regression model.
Now a very good regression model will take into account the fewest number of dependent Batman
Answer:
D) All of the above
- A. Social and public policy objectives, (e.g. encouraging charitable contributions and discouraging illegal bribes).
- B. Encouraging certain activities such as research and development and small business investment.
- C. Economic objectives such as stimulating private investment, reducing unemployment, and mitigating the effects of inflation.
Explanation:
Nobody likes paying taxes, but besides raising revenue for the government they are also useful tool that helps the government redistribute wealth and guiding (not allocating, only making some recommendations and providing alternatives) about the use of private resources.
For example, when wealthy people pay certain social security and unemployment taxes, they are contributing to the social network of the government. By allowing charitable deductions, the government is encouraging individuals and corporations to donate money to qualifying charities, but it is not mandatory.
Answer:
Under variable costing, the company's net operating income for the year would be $60,000 lower than under absorption costing.
Explanation:
The computation of the operating income under variable costing is shown below:
But before that following calculations need to be done
Fixed manufacturing overhead per unit is
= $240,000 ÷ 20,000 units
= $12 per unit
Ending Inventory units is
= 20,000 units - 15,000 units
= 5,000 units
Now Cost of ending Inventory deferred under absorption costing is
= 5,000 units × $12
= $60,000
So, the second option is correct