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
Lostsunrise [7]
3 years ago
13

Reconciliation of pretax accounting income and taxable income: Pretax accounting income $ 179,000 Permanent differences (16,100

) 162,900 Temporary difference-depreciation (11,100 ) Taxable income $ 151,800 Cumulative future taxable amounts all from depreciation temporary differences: As of December 31, 2020 $ 14,000 As of December 31, 2021 $ 25,100 The enacted tax rate was 27% for 2020 and thereafter. What should Kent report as the current portion of its income tax expense in the year 2021
Business
1 answer:
Bumek [7]3 years ago
7 0

Answer:

the current portion of the income tax expense is $40,986

Explanation:

The computation of the current portion of the income tax expense is shown below:

= Taxable income × enacted tax rate

= $151,800 × 27%

= $40,986

hence the current portion of the income tax expense is $40,986

We simply applied the above formula

You might be interested in
In 2016, the population of the United States was approximately 325 million people, with an annual growth rate of approximately 0
Tpy6a [65]

Answer:

The population would be 1318 million

Explanation:

Acording to the formula

<h2>Nt =Noe^{T * r}</h2>

Nt = population size in generation t

No =  initial population size.

e= number e

T= number o years

r = rate

<h2>Nt =325 x ( e^{200 * 0.007})</h2><h2></h2><h2>Nt =  1318 millions</h2>

4 0
4 years ago
True or false: No gain or loss is reported when treasury stock is reissued because GAAP does not consider transactions between a
Likurg_2 [28]

Answer:

The statement is:  True.

Explanation:

When a firm purchases its own shares they become part of the company's treasury stock. This usually happens when the organization intends to sell those shares in the future. According to the General Accepted Accounting Principles (<em>GAAP</em>), the transactions between a firm and its owners are not considered as profit-making. Thus, when a company reissues the treasury stock shares no revenues or losses are recorded.

6 0
3 years ago
Suppose the economy is in long-run equilibrium. If there is a sharp increase in the minimum wage as well as an increase in taxes
sergiy2304 [10]

Suppose the economy is in the long run equilibrium. If there is a sharp increase in the minimum wage as well as an increase in taxes then in the short run, real GDP will

  • fall and the price level might rise, fall, or stay the same. In the long run, the price level might rise, fall, or stay the same but real GDP will be lower.

Given that this economy is in the long run equilibrium. Given a sharp increase in minimum wage and taxes, then real GDP will decrease in the short run as well as the price level.

In the long run it may stay the same. But the Real GDP will definitely be lower.

Read more on brainly.com/question/15544413?referrer=searchResults

3 0
3 years ago
. If the Federal Reserve raises interest rates in an autonomous tightening ________. A) the MP curve shifts up, there is an upwa
Tasya [4]

Answer:

A the MP curve shift up ,there is an upward movement along the IS curve

7 0
3 years ago
Partially completed goods that are in the process of being converted into a finish product are defined as Select one: A. convers
fomenos

Answer:

B. work-in-process inventories.

Explanation:

Partially completed goods that are in the process of being converted into a finish product are defined as work-in-process inventories.

Generally, the work-in-process inventories include the following raw materials cost, direct labor cost and factory overhead cost.

These category of products are only partially completed and as such are waiting for further processing, still undergoing fabrication or kept in a buffer storage.

4 0
3 years ago
Other questions:
  • here is much dispute over the impact that the Internet has had on today’s youth. Based on the information you learned in this le
    9·2 answers
  • Expando, Inc., is considering the possibility of building an additional factory that would produce a new addition to their produ
    13·2 answers
  • An important difference between the gdp deflator and the consumer price index is that
    7·1 answer
  • Leaf Lovers Garden Centers is a chain of discount gardening stores throughout the United States. Top management realizes that am
    10·1 answer
  • Compare the strengths and weakness of the traditional fraud detection techniques with the machine learning techniques for fraud
    11·1 answer
  • Monique lends Taylor $1,200 on March 15, 2009. Taylor is expected to return $1,260 on March 14, 2010. Monique expects inflation
    6·2 answers
  • All of the following statements about agriculture in market economic systems are true EXCEPT
    11·1 answer
  • Frank decides that a social media campaign is the best way for him to attract new business to Slice of Life Pizza. After Frank i
    8·1 answer
  • What are the goals of CRM and social media marketing
    5·1 answer
  • A fixed asset with a cost of $30,000 and accumulated depreciation of $28,500 is sold for $3,500. What is the amount of the gain
    12·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!