subject
Business, 10.03.2020 07:50 jtamika31

Pretax accounting income for the year ended December 31, 2018, was $50 million for Truffles Company. Truffles taxable income was $60 million. This was a result of differences between straight-line depreciation for financial reporting purposes and MACRS for tax purposes. The enacted tax rate is 30% for 2018 and 40 % thereafter. What amount should Truffles report as the current portion of income tax expense for 2018? (Round your answer to the nearest whole million.) Multiple Choice $15 million $18 million $20 million $24 million

ansver
Answers: 3

Another question on Business

question
Business, 22.06.2019 02:30
Sweeten company had no jobs in progress at the beginning of march and no beginning inventories. the company has two manufacturing departments--molding and fabrication. it started, completed, and sold only two jobs during march—job p and job q. the following additional information is available for the company as a whole and for jobs p and q (all data and questions relate to the month of march): molding fabrication total estimated total machine-hours used 2,500 1,500 4,000 estimated total fixed manufacturing overhead $ 10,000 $ 15,000 $ 25,000 estimated variable manufacturing overhead per machine-hour $ 1.40 $ 2.20 job p job q direct materials $ 13,000 $ 8,000 direct labor cost $ 21,000 $ 7,500 actual machine-hours used: molding 1,700 800 fabrication 600 900 total 2,300 1,700 sweeten company had no underapplied or overapplied manufacturing overhead costs during the month. required: for questions 1-8, assume that sweeten company uses a plantwide predetermined overhead rate with machine-hours as the allocation base. for questions 9-15, assume that the company uses departmental predetermined overhead rates with machine-hours as the allocation base in both departments. 1. what was the company’s plantwide predetermined overhead rate? (round your answer to 2 decimal places.) next
Answers: 2
question
Business, 22.06.2019 11:30
(select all that apply) examples of email use that could be considered unethical include denying receiving an e-mail requesting that you work late forwarding a chain letter asking for donations to a good cause sending a quick message to your friend about last weekend sending your boss the monthly sales figures in an attachment setting up a meeting with your co-worker sharing a funny joke with other employees
Answers: 2
question
Business, 22.06.2019 14:50
Pederson company reported the following: manufacturing costs $480,000 units manufactured 8,000 units sold 7,500 units sold for $90 per unit beginning inventory 2,000 units what is the average manufacturing cost per unit? (round the answer to the nearest dollar.)
Answers: 3
question
Business, 22.06.2019 18:30
What is the relationship between credit and debt?
Answers: 1
You know the right answer?
Pretax accounting income for the year ended December 31, 2018, was $50 million for Truffles Company....
Questions
question
Mathematics, 13.12.2020 05:10
question
Physics, 13.12.2020 05:10
question
Mathematics, 13.12.2020 05:10
question
Mathematics, 13.12.2020 05:10
Questions on the website: 13722363