Answer:
$10,200
Explanation:
The computation of the deferred income tax expense or benefit is shown below:
Favorable temporary difference = $50,000
Less: Unfavorable temporary difference -$20,000
Net favorable temporary difference $30,000
We assume the tax rate is of 34%
So, the deferred tax expense is
= $30,000 × 34%
= $10,200
By finding out the net favorable temporary difference and then multiplied with the tax rate we can get the deferred tax expense and the same is shown above
Answer:B. Running his own small farm.
Explanation:
Having got the exprience in running a farm, couple with his financial and managerial knowledge from Accounting will help him to be successful.
Answer:
Identification of the Internal Control Weaknesses:
A. There is no segregation of duties and there is lack of access control. Jerry Miller as a security guard is not expected to have a master key to the cash box. With this he can pilfer the cash. If he prepares the report that shows the number of cars that parked on the lot, he is not supposed to also prepare the day's cash receipts. Otherwise, he can state any number of cars as parked that he likes, and which corresponds to the cash he might leave in the Cash box since he also has a master key.
B. There is no segregation of duties and there is lack of supervision, proper reconciliations, and assets audit. Sharon Fisher handles purchase transactions from the beginning to the close all alone with a third party. This exposes the company to procurement frauds and collusion with suppliers. She can purchase assets for the company at prices that would enrich her personally.
C. Forming an audit opinion on the basis of ratio analysis of last year's comparative financial statements exposes the company to audit risks. While ratio analysis is part of the basis for forming audit opinions, it is surely not the first audit procedure to obtain audit evidence to support his audit opinion on the financial statements. An auditor is expected to obtain sufficient audit evidence and perform audit substantive tests of financial statement assertions. He or she is also expected to review the internal control system to ensure that it is operating effectively after establishing its existence and reviewing changes in internal controls.
Explanation:
Internal Controls are controls established by management in order to help it achieve business goals. There are many internal controls, including Separation of Duties, Access Controls
, Authorization and Approvals, Asset Audits, Reconciliations, and Data Backups. The purposes of internal controls are to establish the reliability of financial reporting, ensure timely feedback on the achievement of operational or strategic goals, and achieve compliance with financial management laws, and accounting regulations.
Based on the percentage of readers who own a particular make of the car and the random sample, we can infer that there is sufficient evidence at a 0.02 level to support the executive claim.
<h3>What is the evidence to support the executive's claim?</h3>
The hypothesis is:
Null hypothesis : P = 0.55
Alternate hypothesis : P ≠ 0.55
We then need to find the test statistic:
= (Probability found by marketing executive - Probability from publisher) / √( (Probability from publisher x (1 - Probability from publisher))/ number of people sampled
= (0.46 - 0.55) / √(( 0.55 x ( 1 - 0.55)) / 200
= -2.56
Using this z value as the test statistic, perform a two-tailed test to show:
= P( Z < -2.56) + P(Z > 2.56)
= 0.0052 + 0.0052
= 0.0104
The p-value is 0.0104 which is less than the significance level of 0.02. This means that we reject the null hypothesis.
The Marketing executive was correct.
Find out more on the null and alternate hypothesis at brainly.com/question/25263462
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Answer:
I am from Long Island but live in NC
Explanation:
