1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
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>

You might be interested in
Describe a real or made up but realistic example of a situation that would require that you communicate with another person abou
Llana [10]

<span>A made up situation I can write is that you could talk about and discuss finances with a financial advisor or consultant who knows these issues better than you. To make these communications less stressful, you can comprehend that the consultant is there to help and is able to help and/or when you get excessively furious, you can take deep breathes to lessen the stress and make yourself calm.</span>

6 0
3 years ago
Read 2 more answers
A rivalry based on the special interests of different areas is called _____
nalin [4]
<span>A rivalry based on the special interests of different areas is called sectionalism. Each rival has an region or section they possess and they are only interested in scenarios or situations concerning them. The rivalry comes from the fact that both parties may have opposite views on special interests or have had some sort of conflict in the past or present.</span>
4 0
2 years ago
Which of the following expresses the value of a levered firm (VL) in the Static Tradeoff model of optimal capital structure [Not
Brut [27]

Answer:

C. VL = VU + PV(Tax Shield) - PV(CFD)

Explanation:

The static trade off theory is a theory of capital structure in corporate finance, first proposed by Alan Kraus and Robert H. Litzenberger. The theory emphasizes the trade-offs between the tax benefits of increasing leverage and the cost of bankruptcy associated with higher leverage. The <u>answer is C</u> as we know relative to the unleveraged firm, leverage provides both costs and benefits. The benefits are the tax shields provided by debt.

7 0
3 years ago
HELP!!!! Imagine that you have been approved to participate in a cooperative education program. In two or three sentences, indic
Karolina [17]

Answer:free points

Explanation:

4 0
3 years ago
Read 3 more answers
For the past 25 years, sam's family ran movie theatres in a mid-sized metropolitan area. four theatres were located in three dif
Scilla [17]
After reading the segment, "let's go to the movies," in the spotlight on small business box, you would suggest to Sam that he differentiate the offering by transforming at least one of the screens into a space where patrons can experience dinner and a movie.



3 0
3 years ago
Other questions:
  • Use the following information to calculate the dollar cost of using a money market hedge to hedge 200,000 British pounds of paya
    11·1 answer
  • In an establishment that serves alcohol for on premise consumption and gets less than 50% of its gross receipts from alcohol sal
    14·1 answer
  • During the final or phaseout stage of the project life-cycle, __________ is the dominant goal of many project managers.
    12·1 answer
  • Period costsSelect one:a. are used to compute product cost.b. are selling costs and administrative costs.c. can be included in o
    14·1 answer
  • Which quality of an asset makes it more appropriate for the fair value principle rather than the historical cost principle?
    14·1 answer
  • You have been working as an intern for your father's construction company and have been asked to sit in the on the company revis
    6·1 answer
  • In calculating the unemployment rate, "discouraged" workers who are not actively seeking employment are:a. Excluded from the lab
    7·1 answer
  • Examining relationships among data in the company's financial statements can provide knowledge that can not be gained from just
    15·1 answer
  • Grain Farm Inc. files a suit against Harvest Services. Before the court can exercise jurisdiction over Harvest, the court must h
    14·1 answer
  • Assuming a company has no other funding sources other than debt and common equity, what is the difference between enterprise val
    9·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!