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Aleksandr-060686 [28]
3 years ago
8

A company reported the following financial information: Taxable income for current year $120,000 Deferred income tax liability,

beginning of year 50,000 Deferred income tax liability, end of year 55,000 Deferred income tax asset, beginning of year 10,000 Deferred income tax asset, end of year 16,000 Current and future years' tax rate 35% The current-year's income tax expense is what amount?
Business
1 answer:
Inessa05 [86]3 years ago
3 0

Answer:

$41,000

Explanation:

Calculation to determine The current-year's income tax expense amount

First step is to calculate the current tax expense

Current tax expense=$120,000 taxable income × 35% tax rate

Current tax expense=$42,000

Second step is to calculate the deferred income tax liability increased

Deferred income tax liability=$55,000-$50,000

Deferred income tax liability=$5,000

Third step is to calculate the deferred income tax asset increased

Deferred income tax asset=$16,000-$10,000

Deferred income tax asset=$6,000

Now let calculate the current year's income tax expense

Current year's income tax expense = $42,000 + $5,000 - $6,000

Current year's income tax expense=$41,000

Therefore Current year's income tax expense is $41,000

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Naddika [18.5K]

Answer:

The long run is longest for Boeing because aircraft production requires​ large, specialized machines and shortest for Wacky​ Jack's because providing singing telegrams requires primarily labor.

Explanation:

The current panorama of commercial aircraft manufacturers presents, due to the important high-tech entry barrier that there is a competitive situation between two major manufacturers: the European Airbus consortium and the North American company Boeing. There are many other construction companies, but their technological or production level is far behind them.

But apart from the commercial competition that exists between these manufacturers, logical on the other hand, both share a common interest in their respective strategies by focusing their research, design and manufacturing activities on ensuring the maximum reliability of their aircraft, since it The security they provide during their operational life will depend.

I do not exaggerate if I affirm that no other transport-related industry is subject to such exhaustive processes for its design, manufacture and maintenance as the air transport-related industry, which does not prevent failures from time to time. , some even unsuspected.

3 0
3 years ago
Which of the following do brands with strong brand equity NOT necessarily have?
MAVERICK [17]

Answer:

A large marketing department is answer

Explanation:

I hope it's helpful!

8 0
3 years ago
The last step in the marketing process often includes: collecting the cash from sales to consumers. developing a written report
pochemuha

Answer: developing a written report to summarize the results of the period's marketing activities.

Explanation:

The last step in the marketing process often is developing a written report to summarize the results of the period's marketing activities.

Developing a written report to summarise the results of the marketing activities is necessary in order to evaluate the performance of the marketing activity and also learn from past mistakes which have previously affected the company.

These are vital in order to capture a good market share in the future and also achieve organizational goals.

6 0
3 years ago
Suppose Stark Ltd. just issued a dividend of $2.57 per share on its common stock. The company paid dividends of $2.20, $2.31, $2
crimeas [40]

Answer:

Answer:

Growth rate (g) = n-1√(<u>Latest dividend)</u>     - 1

                                      Current  dividend

                          = 4-1√($2.49/2.20)   -1  

                         = 3√(1.1318)  -1  

                        = 1.04  -  1

                        = 0.04 = 4%

Ke = Do<u>(1 + g) </u>  +  g

               Po

Ke =  $2.57(<u>1  +  0.04</u>)  + 0.04

                         65

Ke = 0.04 + 0.04

Ke = 0.08 = 8%

Explanation:

In this  case, we need to calculate the growth rate using the above formula. Then, the cost of equity will be  calculated. Cost of equity is a function of current dividend paid subject to growth rate divided by current market price.

Explanation:

5 0
3 years ago
Kevin owns a retail store, and during the current year, he purchased $610,000 worth of inventory. Kevin's beginning inventory wa
Dimas [21]

Answer:

COGS= $598,020

Explanation:

Giving the following information:

Kevin owns a retail store, and during the current year, he purchased $610,000 worth of inventory. Kevin's beginning inventory was $67,000, and his ending inventory is $77,200. During the year, Kevin withdrew $1,780 in inventory for his personal use.

We need to deduct the inventory used for personal use.

To calculate the cost of goods sold, we need to use the following formula:

COGS= beginning finished inventory + cost of goods purchased - ending finished inventory

COGS= 67,000 + 610,000 - 77,200 - 1,780

COGS= $598,020

3 0
3 years ago
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