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g100num [7]
2 years ago
8

For its first year of operations, Tringali Corporation's reconciliation of pretax accounting income to taxable income is as foll

ows: Pretax accounting income $ 330,000 Permanent difference (15,800 ) 314,200 Temporary difference-depreciation (20,900 ) Taxable income $ 293,300 Tringali's tax rate is 25%. Assume that no estimated taxes have been paid. What should Tringali report as its deferred income tax liability as of the end of its first year of operations?
Business
1 answer:
ch4aika [34]2 years ago
3 0

Answer:

$5,225

Explanation:

Calculation for What should Tringali report as its deferred income tax liability as of the end of its first year of operations

Using this formula

Deferred income tax liability=Temporary difference-depreciation*Tringali's tax rate

Let plug in the formula

Deferred income tax liability= $20,900 * 25%.

Deferred income tax liability=$5,225

Therefore What Tringali should report as its deferred income tax liability as of the end of its first year of operations is $5,225

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Why should a notary signing agent learn all about the closing documents in a loan package if they are not allowed to provide adv
shusha [124]

Answer:In American law, a signing agent or courtesy signer is an agent whose function is to obtain a formal signature of an appearer to a document. In common parlance, most jurisdictions require the appearer to sign before a notary public. From this, the practice of a notary public designating themselves as a signing agent has arisen. There are notaries public who specialize in the notarization of real estate transfer and loan document signings. Signing agents often have certification and training through private organizations, but is not a requirement in law, although it may be a requirement of the lender in the oversight of real estate transaction document signatures.

Explanation:

4 0
2 years ago
Tool Manufacturing has an expected EBIT of $72,000 in perpetuity and a tax rate of 24 percent. The company has $128,500 in outst
harkovskaia [24]

Answer:

The value of the company according to MM Proposition I with taxes is $528294.55

Explanation:

value of unlevered firm  = EBIT(1-T)/Ru

                                        = 72000*(1 - 24%)/11%  

                                       = 497454.55

value of levered firm = 497454.55 + 128500*0.24

                                   = $528294.55

Therefore, The value of the company according to MM Proposition I with taxes is $528294.55

4 0
3 years ago
To help with hiring decisions during peak seasons and holidays, Cards for All Seasons uses time-series forecasts, like sales fro
nexus9112 [7]

Answer:

B) A Trend Decision

Explanation:

Trend decision is also known as Trend forecasting. It is a complicated and useful way in which data of past sales is used to determine future trends. It is generally used by marketing experts to determine future sales growth. It can be used in different areas of a business.

An example of the use of trend forecasting is the fashion industry. Since customers change their purchasing behavior rapidly, so a particular garment becomes popular for one season and then it goes out of fashion. Fashion forecasters use trend forecasting to predict the trends by including the work designers and the early adoption of a trend among the people

5 0
3 years ago
Suppose the price of a bag of jelly beans rises from $1.60 to $2.00, with the result that sales of jelly beans falls from 120 ba
andrey2020 [161]

Answer:

The elasticity of demand for jelly beans is 1.80

Explanation:

The elasticity of demand is the principle of economic which is defined as the measure that extent the consumer response to the changes in the quantity demanded as a consequence of price change and being others factors are equal.

Computing the elasticity of demand for jelly beans as:

Elasticity of demand = Price Change / Quantity Change

where

Price Change is as:

Price = $1.60 + $2.00

= $3.60

Quantity change is as:

Quantity = 120 + 80

= 200

So,

Elasticity of demand = $3.60 / 200 × 100

Elasticity of demand = 1.80

5 0
3 years ago
On March 1, Squire Company purchased a new stamping machine with a list price of $24,000. The company paid cash for the machine;
Nikitich [7]

Answer:

C. $25,960

Explanation:

Cost of asset includes all the cost involved to acquire and install the asset. In simple term all the costs that are necessary to make the asset usable are capitalised and added to the cost of the asset.

In this question stamping machine has following cost which need to be capitalised.

Discounted Price = $24,000 x ( 100% - 3% ) = $24,000 x 97% = $23,280

Transportation cost = $550

Sales Tax = $1,680

Installation cost = $450

Total cost to be capitalized = $23,280 + $550 + $1,680 + $450 = $25,960

Routine Maintenance cost is the routine / period cost which incur every month, It is not necessary to make the asset usable and it is incurred after the asset is used.

5 0
3 years ago
Read 2 more answers
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