Whispering is a corporation that sells breakfast cereal. Based on the accounts listed below, what are Whispering's total trade r
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Total cost for the trip = $800.
Let x = original number of friends.
Therefore the equally shared cost of the trip for each friend is $800/x.
After 2 friends drop out, the cost for each friend increases to $800/(x-2).
The increase in cost for each remaining friend is $20, therefore
Divide through by 20.
Cross multiply.
x(x - 2) = 80
x² - 2x - 80 = 0
(x + 8)(x - 10) = 0
x = -8 or 10
Reject x = -8 because we cannot have a negative number for friends.
x = 10
Answer: There were 10 friends in the original group.
Let x = original number of friends.
Therefore the equally shared cost of the trip for each friend is $800/x.
After 2 friends drop out, the cost for each friend increases to $800/(x-2).
The increase in cost for each remaining friend is $20, therefore
Divide through by 20.
Cross multiply.
x(x - 2) = 80
x² - 2x - 80 = 0
(x + 8)(x - 10) = 0
x = -8 or 10
Reject x = -8 because we cannot have a negative number for friends.
x = 10
Answer: There were 10 friends in the original group.
Answer:
Income Tax Expense a/c Dr $ 20,57,000
Deferred Tax Liability a/c Dr $ 43,000
To Income Tax Payable a/c Cr $ 21,00,000
($6 Million x 35%)
Explanation:
The Above will result in timing Difference.
Timing Differences are those which can be reversed in subsequent periods.
Income Tax Expense a/c Dr $ 20,57,000
Deferred Tax Liability a/c Dr $ 43,000
To Income Tax Payable a/c Cr $ 21,00,000
($6 Million x 35%)
( Being Entry Passed for Tax Expense and Timing Difference Adjusted through Deferred Tax Liabilty)
