Shannon Polymers uses straight-line depreciation for financial reporting purposes for equipment costing $800,000 and with an expected useful life of four years and no residual value. Assume that, for tax purposes, the deduction is 40%, 30%, 20%, and 10% in those years. Pretax accounting income the first year the equipment was used was $900,000, which includes interest revenue of $20,000 from municipal governmental bonds. Other than the two described, there are no differences between accounting income and taxable income. The enacted tax rate is 25%. Prepare the journal entry to record income taxes.
Answers: 3
Business, 22.06.2019 12:50
In june 2009, at the trough of the great recession, the bureau of labor statistics announced that of all adult americans, 140,196,000 were employed, 14,729,000 were unemployed and 80,729,000 were not in the labor force. use this information to calculate: a. the adult population b. the labor force c. the labor-force participation rate d. the unemployment rate
Answers: 3
Business, 22.06.2019 18:00
1. what is the amount of interest earned after two years on a $100 deposit paying 4 percent simple interest annually? $8.00 $4.08 $8.16 $4.00 2. what is the amount of compound interest earned after three years on a $100 deposit paying 8 percent interest annually? $24.00 $8.00 $16.64 $25.97 3. a business just took out a loan for $100,000 at 10% interest. if the business pays the loan off in three months, how much did the business pay in interest? $2,500.00 $10.00 $250.00 $10,000.00 4. what is the annual percentage yield (apy) for a deposit paying 5 percent interest with monthly compounding? 5.00% 5.12% 79.59% 0.42%
Answers: 1
Business, 22.06.2019 20:00
Which of the following is a competitive benefit experienced by the first mover firm in an industry? a. the first mover will be able to achieve a less steep learning curve. b. the first mover will be able to reduce the switching costs. c. the first mover will not have to patent its products or technology. d. the first mover will be able to reduce costs through economies of scale.
Answers: 3
Business, 22.06.2019 22:00
Suppose that with a budget of $110, deborah spends $66 on sushi and $44 on bagels when sushi costs $2 per piece and bagels cost $2 per bagel. but then, the price of bagels falls to $1 per bagel.
Answers: 3
Shannon Polymers uses straight-line depreciation for financial reporting purposes for equipment cost...
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