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bagirrra123 [75]
3 years ago
5

Loran's pretax accounting income in 20X1 is $100,000. Loran had bad debt expense for financial reporting purposes of $14,000 in

20X1. In 20X1, Loran deducted $4,000 in bad debts. Loran expects the temporary difference to reverse $3,000 in 20X2 and $7,000 in 20X3. The income tax rate is 40%. What is the amount in the deferred tax asset account at the end of 20X2?
Business
1 answer:
stira [4]3 years ago
6 0

Answer:

$2,800

Explanation:

Particulars                                                                       Amount

Favorable temporary difference at the end of 20X2   $7000

* Income tax rate                                                             <u>   40%  </u>

Deferred tax asset account at the end of 20X2         <u>$2,800</u>

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Answer:

Race, Color, or National Origin.

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Explanation:

4 0
3 years ago
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Using multiple cost drivers on a flexible budget report will generally ______. Multiple choice question.
lutik1710 [3]

Using multiple cost drivers on a flexible budget report will generally make the budget accurate and effective.

<h3>What is flexible budget performance report?</h3>

A flexible budget performance report serves as one that make comparison between actual revenues and costs for a period.

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2 years ago
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statement of revenues

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3 years ago
If you want to give a vendor an incentive to complete work early, which type of contract would you use?Select an answer:a. fixed
uranmaximum [27]

Answer:

The correct answer is letter "A": fixed price.

Explanation:

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You have a portfolio that is invested 11 percent in Stock R, 56 percent in Stock S, and the remainder in Stock T. The beta of St
Kruka [31]

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3 years ago
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