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
Malcolm has been researching reports generated by government agencies and the local chamber of commerce. What kind of research i
Over [174]

Answer: Tertiary

Explanation:

This is a research on an already concluded research hypothesis, either using the opinion as a raw data for another research work or to validate the truth or false of the already concluded research work.

5 0
3 years ago
Danny is considering a stock purchase. The stock pays constant annual dividends of ​$1.54 per share and is currently trading at
Ksenya-84 [330]

Answer:

No he should not buy this stock.

Explanation:

The stock pays a constant dividend thus it means it is a zero growth stock. The formula to calculate the fair price of a zero dividend growth stock is as follows,

  • P = D / k
  • Where D represents dividend
  • k represents required rate of return
  • P = 1.54 / 0.141 = 10.92

The fair price of the stock according to the Dividend discount model is 10.92 while the stock is trading at 21.27 which means that the stock is overpriced. So, it should not be purchased.

7 0
3 years ago
The period of time over which an improvement contributes to a property's value is best described as its?
algol [13]

The answer is economic life.

The period of time over which an improvement to the property will contribute to its value is known as its economic life.

What is economic life?

  • The estimated span of time that an asset will be beneficial to the average owner is referred to as its economic life.
  • When an asset is no longer beneficial to its owner, it is said to have reached the end of its economic life. The economic life of an asset may differ from its physical life.
  • Owners must consider the asset's net present value (NPV), internal rate of return (IRR), and return on investment when estimating the figure (ROI). Several causes can shorten or end an asset's economic life. Asset wear, deterioration, or damage diminishes the economic life of an asset.

To learn more about economic life visit:

brainly.com/question/16009925

#SPJ4

5 0
2 years ago
When flying over arrowwood national wildlife refuge, a pilot should fly no lower than?
Rudiy27
2,000 feet of altitude
3 0
3 years ago
In which one of the following situations/circumstances is it most reasonable for a company to consider modifying its strategy to
MAVERICK [17]

Answer:

When most every other rival company seems to be pursuing a low-cost/low-price/high- volume strategy Copying, redistributing, or website posting is expressly prohibited and constitutes copyright violation.

Explanation:

For differentiation strategy that provides a product with higher attributes than those provided by other competitors at a higher price to work the appropriate business environment must be in place.

The high quality product to be produced must not be subject to copying, redistribution, or website posting. If the product is protected by copyright laws the company will be the only seller in the market and will make high profits as a result of the product differentiation.

Also most other sellers will be focused on selling low-cost/low-price/high- volume products. This will create a customer pool that will prefer to purchase stylish high-quality athletic footwear.

Footwear with high" S/Q ratings (8.5 stars or higher) can be sold above-average prices

6 0
3 years ago
Other questions:
  • In 2011 Buckeye Brewing produced 1,000 bottles of ginger ale each day. It employed 10 workers each working 8 hours a day. In 201
    14·1 answer
  • ​self-checkout at a grocery store is an example of
    10·1 answer
  • Which type of business is owned by a small pool of investors?
    5·1 answer
  • What famous economist developed the principle of comparative advantage as we know it today?
    7·1 answer
  • Katie’s Cleaning Service has cleaning contracts for 15 apartments, 45 family homes, and 25 office buildings. She estimates that
    8·1 answer
  • What does the government spend its money on
    11·1 answer
  • For personal finance course
    12·1 answer
  • The net income reported on the income statement for the current year was $212000. Depreciation recorded on plant assets was $355
    11·1 answer
  • Match each business structure with the scenario that illustrates it.
    15·1 answer
  • Which of the following is an example of a monetary policy?
    7·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!