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crimeas [40]
2 years ago
10

5. What is the difference between your assets and your liabilities known as?

Business
2 answers:
miskamm [114]2 years ago
6 0

Answer:

The difference between your assets and your liabilities is known as either your profit or loss.

Naya [18.7K]2 years ago
4 0

Answer:

assets are things that you might need, or are more important. Liabilities are things that are extra.

Explanation:

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g reported pretax accounting income of $860 million for the current year. Depreciation reported in the tax return in excess of d
Llana [10]

Answer: $380 million

Explanation:

To solve the question, first we have to calculate the depreciation that'll be reported for each year and this will be:

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Then, the deferred tax liability related to the excess depreciation will be:

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3 years ago
A company used the percent of sales method to determine its bad debts expense. At the end of the current year, the company's una
MA_775_DIABLO [31]

Answer:

Dr Bad Debt Expense $44,000

Cr Allowance for Doubtful Accounts $44,000

Explanation:

Preparation of What adjusting Journal entry should the company make at the end of the current year to record its estimated bad debts expense

Based on the information given the adjusting Journal entry that the company should make at the end of the current year to record its estimated bad debts expense will be:

Dr Bad Debt Expense $44,000

Cr Allowance for Doubtful Accounts $44,000

(Net Sales 2,200,000*Estimated 2.0% of net sales)

(Being to record estimated bad debts expense)

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