Insta- the_bikeaddict . hai everyone

Puritan Corp. reported the following pretax accounting income and taxable income for its first three years of operations: 2017 $

dangina [55]

Answer:

Net loss in 2018 reported in Puritan’s income statement = $360,000

Explanation:

Net Loss:

Net loss is the amount by which a company's total costs are more than its total sales during a particular period.

Formula:

Net loss = -taxable income + Income tax benefit

As taxable income for 2018 = $600,000 and Puritan's tax rate is 40% for all years

Therefore by putting the values in the above formula, we get

Net loss in 2018 in Puritan’s income statement = -$600,000 + ($600,000 * 40%)

Net loss in 2018 reported in Puritan’s income statement = -$600,000 + 1500000

Net loss in 2018 to be reported in Puritan’s income statement = $360,000

3 0

3 years ago

Each business day, on average, a firm writes checks totaling $17000 to pay its suppliers. The usual clearing time for the checks

BaLLatris [955]

Answer:

The disbursement float is $ 68,000, collection float is -$44,000 and net float is $24,000.

Explanation:

DISBURSEMENT FLOAT -

Formula that can be used to calculate the disbursement float is =

Amount of average monthly check written X Average number of days it

takes to clear check

Where, amount of average monthly check = $17,000

and average number of days for it to be cleared = 4 days

Disbursement float = $17,000 x 4

= $68,000

COLLECTION FLOAT -

Formula that can be used to calculate the collection float is =

Amount of average monthly check received X Average number of days it

takes to clear check

Where, amount of average monthly check =-$22,000

and average number of days for it to be cleared = 2 days

Collection float = -$22,000 x 2

= -$44,000

NET FLOAT -

Formula that can be used to calculate the NET float is =

DISBURSEMENT FLOAT - COLLECTION FLOAT

= $68,000 - $44,000

= $24,000

7 0

3 years ago

In 2011 oil production in Libya was interrupted by political unrest. At the same time, the demand for oil by China continued to

vampirchik [111]

Answer:

Quantity of oil bought & sold would depend upon relative change i.e increase & decrease in demand & supply respectively.

↑Dd = ↓Sy : Qty same
↑Dd > ↓Sy : Qty ↑
↑Dd < ↓Sy : Qty ↓

Explanation:

Libya is an exporter of Oil to China. It implies china's demand for oil is satisfied by Libya's imports.

Usual markets are at equilibrium when market demand = market supply, demand & supply curves intersect.

Political unrest in Libya decreasing oil production, would decrease supply (exported) of oil to China & sift supply curve leftwards. Simultaneously, increase in China demand for oil would shift the demand curve rightwards. These changes in demand, supply would create excess demand. Excess demand would cause competition among buyers & increase the new equilibrium price.

However, Quantity of oil bought & sold would depend upon relative change , shift in demand & supply. If increase in demand is equal to decrease in supply, the quantity would remain same. If increase in demand is more than decrease in supply, quantity will increase. If increase in demand is less than decrease in supply, the quantity will decrease.

3 0

3 years ago

True or false: If Dogs R Us overstates ending inventory on the balance sheet, then total equity on the balance sheet will be ove

ANEK [815]

Answer:

True

Explanation:

The statement is true

6 0

2 years ago

The demand curve has what kind of slope?

Leto [7]

It is a graph that shows the relationship between the quantity demanded of a commodity at different prices over a given period of time. It is observed that the demand curve slopes downward from left to right. It shows it has a negative slope which implies that consumers purchase more of commodity at lower prices than at higher prices.

Hope this helps and pls give me brainliest

8 0

3 years ago

Insta- the_bikeaddict . hai everyone ​

Insta- the_bikeaddict . hai everyone