1. The records for Bosch Co. show this data for 2018: β’ Gross profit on installment sales recorded on the financial books was $480,000. Gross profit from those same sales for tax purposes was only $320,000. β’ Life insurance expense on officers was $3,800 for book purposes (not deductible for tax purposes). Machinery was acquired in January for $300,000. For book reporting, straight-line depreciation over a ten-year life (no salvage value) is used. For tax purposes, MACRS depreciation is used which allows Bosch to deduct 14% of the acquisition cost as depreciation for 2018. Income recorded in the financial books for interest received on tax exempt lowa State bonds was $9,000 (not taxable). The estimated warranty liability related to 2018 sales was $21,600 for book purposes. Actual warranty repair costs during 2018 were $13,600, thus the ending book warranty liability was $8,000. The remainder of the costs will be incurred in 2019. Pretax financial (i. e., book) income is $700,000. β’ The tax rate is 30%. QUESTION 35 1. Refer to the facts in the previous Bosch Co. question. How much is Bosch's taxable income? $530,800 $536,000 $858,800
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Sonic corp. manufactures ski and snowboarding equipment. it has estimated that this year there will be substantial growth in its sales during the winter months. it approaches the bank for credit. what is the purpose of such credit known as? a. expansion b. inventory building c. debt management d. emergency maintenance
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Donβt give me to many notifications because it will cause you to lose alot of points
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The following table gives the map coordinates and the shipping loads for a set of cities that we wish to connect through a central hub.,(7,(4,(7,(6,(2,( 2,) for the location of the proposed new central hub, the coordinates should be near: x==) if the shipments from city a double, for the location of the proposed new central hub, the coordinates should be near: x==.926.865.017.21
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1. The records for Bosch Co. show this data for 2018: β’ Gross profit on installment sales recorded o...
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