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marissa [1.9K]
3 years ago
10

"During the current year, Stern Company had pretax accounting income of $48 million. Stern's only temporary difference for the y

ear was rent received for the following year in the amount of $11 million. Stern's taxable income for the year would be:"
Business
1 answer:
Naddik [55]3 years ago
5 0

Answer:

$59 milliom

Explanation:

Calculation to determine what Stern's taxable income for the year would be:

Using this formula

Stern's taxable income=Accounting income +Rent received temporary difference

Let plug in the formula

Stern's taxable income=$48 million+ $11 million

Stern's taxable income=$59 million

Therefore Stern's taxable income for the year would be:$59 million

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Mason Corporation had $1,150,000 in invested assets, sales of $1,228,000, income from operations amounting to $226,000, and a de
ohaa [14]

Answer:

b.1.07

Explanation:

Investment turnover ratio determines the times when the portfolio of investment is sold during a particular period of time e.g Monthly, Annually, etc. The higher turnover results in more commission earned by the broker who is selling the portfolio.

Investment Turnover = Sales / Invested Assets

Investment Turnover = $1,228,000, / $1,150,000

Investment Turnover = 1.067826

Investment Turnover = 1.07 ( Rounded off to 2 decimals places )

6 0
3 years ago
Janice has calculated the GDP for 2018 by using the total final goods and services times the 2018 prices of total goods and serv
zubka84 [21]

Answer:

a. Janice must adjust the total value 2018 GDP for inflation.

Explanation:

Gross domestic product is defined as the amount of goods and services produced by a country in a particular period. It is a measure of economic growth of the country.

Real GDP is calculated from GDP by adjusting for inflation of deflation. Real GDP gives a more clear picture of the economy since it considers the reality of inflationary effect on prices.

For example when prices go up and GDP is used, it will seem the country is producing more. Which is a wrong assumption.

Real GDP give a more accurate insight into a countrie's productivity.

5 0
3 years ago
Congress missed the fact that various agencies with responsibility for supervising the banking industry were negligent in identi
stira [4]

Answer:

oversight.

Explanation:

Oversight can be defined as an unintentional failure to notice a mistake or error, or an unintentional failure to act upon an event caused by an error.

Both the FED and the SEC should have noticed that the financial system was in a really bad shape way before Bear Stearns and Lehman Brothers collapsed, or AIG (and others) needed a huge bailout. Apparently both the FED and SEC were all too optimistic about the market and their optimism blinded them. As always the consequences of negligent public servants were paid mostly by the average taxpayer.

5 0
2 years ago
You are working in the emergency department (ED) when a client arrives reporting substernal and left arm discomfort that has bee
BartSMP [9]

Answer:

Troponin I level

Explanation:

High troponin levels can indicate a problem with the heart. The heart releases troponin into the blood following an injury, such as a heart attack. Very high troponin levels usually mean that a person has recently had a heart attack. The medical term for this attack is myocardial infarction

6 0
3 years ago
Vega Enterprises has computed the following unit costs for the year just ended: Direct material used $12 Direct labor 18 Variabl
andreev551 [17]

Answer:

Unitary cost= $84

Explanation:

Giving the following information:

Direct material used $12

Direct labor 18

Variable manufacturing overhead 25

Fixed manufacturing overhead 29

<u>The absorption costing method includes all costs related to production, both fixed and variable. The unit product cost is calculated using direct material, direct labor, and total unitary manufacturing overhead. </u>

Unitary cost= 12 + 18 + 25 + 29

Unitary cost= $84

7 0
3 years ago
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