What are the effect of enterprise/business on environment? write them

Assume that Sharp operates in an industry for which NOL carryback is allowed. In its first three years of operations Sharp repor

Flura [38]

Answer:

$1,620,000

Explanation:

Assume that Sharp operates in an industry for which NOL carryback is allowed.

In its first three years of operations Sharp reported the following operating income (loss) amounts: 2019 $ 1,350,000 2020 (3,150,000 ) 2021 5,400,000

There were no deferred income taxes in any year. In 2020, Sharp elected to carry back its operating loss.

The enacted income tax rate was 25% in 2019 and 30% thereafter.

In its 2021 balance sheet, what amount should Sharp report as current income tax payable is the applicable tax rate for 2021 applied on the income of the year: 30% x 5,400,000 = $1,620,000

3 0

3 years ago

Read 2 more answers

Clooney Corp. establishes a petty cash fund for $200 and issues a credit card to its office manager. By the end of the month, em

AURORKA [14]

Answer:

1.Dr Postage expense $47

Dr Delivery expense $72

Dr Supplies expense $37

Dr Entertainment expense $25

Cr Petty cash $181

2.

Dr Petty cash $181

Cr Cash $181

Explanation:

Preparation of the Journal entry to record all employee expenditures and the entry to replenish the petty cash fund.

1.Since we were told to record all employee expenditures this means that the employee expenditures Journal entry will be recorded as:

Dr Postage expense $47

Dr Delivery expense $72

Dr Supplies expense $37

Dr Entertainment expense $25

Cr Petty cash $181

($47+$72+$37+$25)

2. Since we were told to record the entry to replenish the petty cash fund, this means that the petty cash fund will be recorded as:

Dr Petty cash $181

($47+$72+$37+$25)

Cr Cash $181

8 0

4 years ago

To what extent, if any, are marketers responsible for injurious consumption involving their product?

Licemer1 [7]

Injurious consumption is negative in nature and not good at all for a person.

Utilizing resources to meet immediate needs and desires is known as consumption. It is contrasted with investing, which entails making purchases in order to acquire future revenue. Consumption is a key idea in economics and is also explored in a wide range of social sciences. Consumption is defined differently by various economic schools. Mainstream economists believe that only the final purchase of newly produced goods and services by individuals for immediate use qualifies as consumption; all other types of expenditure, including government spending, fixed investment, and intermediate consumption, are classified as separate categories (see Consumer choice). Many other economists define consumption as the whole of all economic activity that does not involve the creation, manufacturing, or selling of products and services.

learn more about consumption:

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4 0

1 year ago

Germany is capital abundant country and Japan is labor abundant country. If computers are produced mostly by capital and beer is

wel

Answer:

If computers are produced mostly by capital and beer is produced mostly by labor, the H-O model predicts that

Germany will export computers in exchange for beer.

Explanation:

The H-O model or Heckscher-Ohlin theory is an economic model about the comparative advantages of nations in international trade. The model tries to explain the equilibrium of trade existing between two countries that have varying specialties and natural resources. According to the H-O model, countries export more goods and services for which they have plenty resources than they do for goods and services for which they have scarce resources. For example, if a country has capital in abundance, it will export more of capital-intensive products while it will import labor-intensive products, because it has scarce labor resources.

6 0

3 years ago

A new accountant at Tamarisk, Inc. is trying to identify which of the amounts shown below should be reported as the current asse

lara [203]

Answer:

Total cash and cash equivalent: 21,528

Explanation:

1. petty fund: 66 It does count as is cash.

2. The TB is due within 90 days. It does count: 10,900

3. The check can be convert into cash. Do count as cash: 290

4. Within 90-days It is a cash equivalent: 92

5. Company's checking account: 2,890

6. Savings accounts: 7,290

7. the postage meter cannot convert into cash.

8. The IOU from the receptionist will discount from his paycheck it cannot convert into check.

Total cash:

66 + 10,900 + 290 + 92 + 2,890 + 7,290 = 21,528

3 0

3 years ago