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3 years ago

Which of the following differences between financial accounting and tax accounting ordinarily creates a deferred tax asset?

Business

1 answer:

pantera1 [17]3 years ago

6 0

Answer:

<h2>C.</h2><h2> Depreciation early in the life of an asset. </h2>

Explanation:

I hope this helps

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The LIFO cost flow assumption results in the most (distant/recent) costs being transferred to cost of goods sold. In times of ri

asambeis [7]

Answer:

RECENT
HIGHER

Explanation:

Last-in, first-out (LIFO) means that the most recent costs are going to be used to determine the cost of goods sold. The LIFO method is very useful when the prices of your inputs or merchandise are continuously rising, for example if inflation rate increased. LIFO method is better for determining replacement costs when prices are increasing.

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4 years ago

Sales of watches among teenagers and twenty-somethings are declining rapidly as this age group uses cellphones, iPods, and other

il63 [147K]

Answer:

(A) unrelated diversification

Explanation:

The unrelated diversification s a form of diversification that that to the forms of business when they adds up unrelated new products and new lines and penetrates the newer markets.

An example of cake makers entering a furniture market. Thus relates to different and non-related spheres of functioning.

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3 years ago

Froya Fabrikker A/S of Bergen, Norway, is a small company that manufactures specialty heavy equipment for use in North Sea oil f

zubka84 [21]

Answer:

a. Raw Material Purchases (Dr.) Nkr200,000

Accounts Payable (Cr.) Nkr200,000

b. Work in process (Dr.) Nkr185,000

Raw material (Cr.) Nkr185,000

c. Manufacturing Overhead (Dr.) Nkr63,000

Selling and admin Overheads (Dr.) Nkr7,000

Utility expense (Cr.) Nkr70,000

d. Direct Labor wages (Dr.) Nkr230,000

Indirect Labor wages (Dr.) Nkr90,000

Selling and admin Salaries (Dr.) Nkr110,000

Salaries Expense (Cr.) Nkr 430,000

e. Maintenance expense (Dr.) Nkr54,000

Cash (Cr.) Nkr54,000

f. Advertising expense (Dr.) Nkr36,000

Cash (Cr.) Nkr36,000

g. Depreciation Expense (Dr.) Nkr95,000

Accumulated depreciation (Cr.) Nkr95,000

h. Rent Expense (Dr.) Nkr20,000

Cash (Cr.) Nkr20,000

Explanation:

i. No entry

j. Finished goods (Dr.) Nkr770,000

Cost of goods manufactured (Cr.) Nkr770,000

k. Cash (Dr.) Nkr1,200,000

Sales (Cr.) Nkr1,200,000

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3 years ago

Corey has been looking at several alternative locations for his new facility and performs a cost-benefit analysis in order to de

ale4655 [162]

The decision making should Corey focus on is the Economic feasibility. It is a study that shows the proposed project's total benefit. It will determine if the business will be feasible in terms of the following:

1. technical
2. cost
3. profit.

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4 years ago

On January 1, 2021, Cullumber Inc. granted stock options to officers and key employees for the purchase of 21,000 shares of the

Alenkinab [10]

Answer & Explanation:

December 31, 2021

Compensation Expense 164,200

Paid-in Capital (328,400 x 0.5) 164200

To record compensation expense

April 1, 2022

Paid-in Capital 32,840

Compensation Expense (328,400 x 2100/21000) 32,840

To record termination of stock option

December 31, 2022

Compensation Expense 147,780

Paid-in Capital (328,40 x 1/2 x 18900/21000) 147,780

To record compensation expense

March 31 , 2023

Cash ( 12,600 x $25) 315,000

Paid-in Capital (328,400 x 12,600/21,000) 197040

Common Stock (21,000 x $10) 126,000

Paid-in Capital in Excess of Par 386,040

To record exercise of stock option

December 31, 2023

6,300 stock options not exercised (21,000 - 2,100 - 12,600)

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3 years ago