Isaac Inc. began operations in January 2018. For certain of its property sales, Isaac recognizes income in the period of sale for financial reporting purposes. However, for income tax purposes, Isaac recognizes income when it collects cash from the buyer's installment payments. In 2018, Isaac had $688 million in sales of this type. Scheduled collections for these sales are as follows:
2018 $ 60 million
2019 120 million
2020 120 million
2021 150 million
2022 150 million
$ 600 million
Assume that Isaac has a 30% income tax rate and that there were no other differences in income for financial statement and tax purposes. Ignoring operating expenses and additional sales in 2019, what deferred tax liability would Isaac report in its year-end 2019 balance sheet?
a. $126 million.
b. $54 million.
c. $144 million.
d. $180 million.
Answers
Answer:
a. $126 million.
Explanation:
The computation of the deferred tax liability is as follows
Particulars 2018 2019
(in $ millions)
Income for
Finan reporting 600 0
Income for income
tax purpose 60 120
Difference 540 120
Opening balance 162
of dtl
Dtl creation
(30% of 540) 162 0
Reversal of dtl
(30% of 120) 0 -36
Ending balance 162 126
Related Questions
what is the cost of value stream approach with smaller batch size
Answers
The value stream approach is a lean manufacturing methodology that focuses on creating value for the customer by identifying and eliminating waste in the production process. One of the key principles of the value stream approach is to create smaller batch sizes to reduce the amount of work-in-progress inventory and improve flow.
While implementing smaller batch sizes can result in several benefits, such as reduced lead times, increased flexibility, and improved quality, there are also costs associated with this approach. Some of these costs include:
Setup costs: Setting up machines and equipment for each batch can be time-consuming and expensive. The more frequent the setups, the higher the setup costs.
Labor costs: Smaller batch sizes may require more frequent machine and equipment changes, which can increase labor costs.
Material costs: Ordering smaller quantities of materials may result in higher per-unit costs due to reduced economies of scale.
Transportation costs: Shipping smaller quantities of products more frequently can result in higher transportation costs.
Overhead costs: Smaller batch sizes may require more frequent quality checks and inspections, which can increase overhead costs.
In summary, while smaller batch sizes can result in several benefits, it is important to carefully evaluate the costs and benefits before implementing this approach in a manufacturing setting.
You have 24 cups of milk.
You need 1.25 cups to make one serving of deep-fried chicken.
How many servings can you make? Whole servings only - round down
rather than using partial servings.
Answer:
to make a servings of roast beef gravy.
Answers
Answer:
19.2 serving
Explanation:
Because if you have 24 cups of milk and need 1.25 cups to make 1 serving we would have to divide.
24 cups of milk - 1.25 cups of milk per serving = 19.2
Cost : $9.99
Markup: 40%
Answers
$9.99 times 0.4 = $3.99(the markup)
Now you add $3.99 to the cost price which was 9.99.
3.99
9.99
———
$13.98 is the total price
Arley’s Bakery makes fat-free cookies that cost $1.60 each. Arley expects 25% of the cookies to fall apart and be discarded. Arley wants a 40% markup on cost and produces 200 cookies. What should Arley price each cookie?
Answers
Arley charged $ 2.8 for each cookie.
What is mark-up pricing?Mark-up pricing is a technique for figuring out the product's selling price. The cost of the product is multiplied by the markup % to calculate the price, and the value is then added to the overall cost.
Simply divide the difference between the sales price and the unit cost by the unit cost. Next, multiply the result by 100 to get the markup percentage. The markup percentage, for instance, would be 50% if your product costs $50 to create but sells for $75: ($75 - $50) / $50 = 50 x 100 = 50%.
Arley set a cookie price
200 x 1.6 = 320
300 + 0.40(300) = 420
200 x 0.25 = 50 bad cookies
200 - 50 = 150 good cookies
420 / 150 = $2.8
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1. Ryan can show Delia homes listed with XYZ Realty and other brokers in the market if:
(a) None of the homes are owned by Agent Ryan
(b) Ryan discloses to Broker Bradley that he will show homes listed by XYZ Realty
(c) Delia gives verbal consent to see homes listed by XYZ Realty
(d) Delia has given written Intermediary consent
Answers
Ryan can show Delia homes listed with XYZ Realty and other brokers in the market if:
Delia has given written Intermediary consent Delia gives verbal consent to see homes listed by XYZ Realty None of the homes are owned by Agent RyanWhen can homes be shown in the marketDelia gives verbal consent to see homes listed by XYZ Realty: This condition highlights the significance of Delia's consent. If Delia explicitly gives verbal consent to Ryan, it signifies that she is comfortable with viewing homes listed by XYZ Realty. Delia's consent is crucial in allowing Ryan to proceed with showing homes from XYZ Realty.
(d) Delia has given written Intermediary consent: This condition specifically refers to written consent in the form of an intermediary agreement. In some cases, Delia may choose to engage Ryan as an intermediary, authorizing him to show homes listed by multiple brokers, including XYZ Realty.
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Gemma's seller client, Hugo, is selling his house in Benton. As Hugo's seller agent,
Gemma has several tasks to perform for him. One of these tasks is to what
Answers
Gemma's task as Hugo's seller agent is to conduct a comparative market analysis (CMA) to determine the appropriate listing price for the house in Benton.
The purpose of a CMA is to determine the appropriate listing price for the property by comparing it to similar properties in the local market.
Gemma will gather information on recently sold properties in Benton that are similar in size, condition, location, and features to Hugo's house. This information includes the selling prices of these properties, as well as the time they spent on the market before being sold.
By analyzing the data from the comparable properties, Gemma will be able to assess the current market value of Hugo's house. This will help her and Hugo determine a competitive and realistic listing price that attracts potential buyers while maximizing the property's value.
Gemma's CMA will involve carefully selecting and evaluating the most relevant comparable properties and making adjustments to account for any differences between them and Hugo's house. These adjustments may consider factors such as square footage, upgrades, amenities, and location.
By performing a thorough and accurate CMA, Gemma will provide Hugo with valuable insights into the local real estate market and enable him to make informed decisions regarding the listing price and marketing strategy for his house in Benton.
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True or False? The placement of a product within a store, or online, can determine the sales performance of that product.
Answers
Product Placement. a form of advertising in which name brand goods are placed in sports & entertainment programs. embedded marketing.
Answer:
true
Explanation:
A company produces kitchen appliances for several different brands. Each year, there are new designs with new features and new production challenges. You need an organizational structure that allows your purchasing department to keep a lean inventory without disrupting production. You need the flexibility of assigning engineers to a number of different products and diverting resources quickly from one line to another. Which type of organizational structure would work best?
shared services
product
functional
matrix
PLEASE ANSWER QUICKLY 20 points
Answers
i know the answer
but this answer is contains 10 marks but u said 20 points
shared services or matrix
Answer:
Matrix
Explanation:
Assume that the hypothetical economy of Econoland has 10 workers in year 1, each working 2,000 hours per year (50 weeks at 40
hours per week). The total input of labor is 20,000 hours. Productivity (average real output per hour of work) is $10 per worker.
Instructions: In parts a and b, enter your answers as a whole number. In part c, round your answer to 2 decimal places.
a. What is real GDP in Econoland?
$
b. Suppose work hours rise by 1 percent to 20,200 hours per year and labor productivity rises by 4 percent to $10.40. In year 2, what
will be Econoland's real GDP?
$
c. Between year 1 and year 2, what will be Econoland's rate of economic growth?
percent
Answers
In year one, the Econoland economy has 10 workers, each working 2,000 hours per year (50 weeks at 40 hours per week).
a. $200,000
b. $210,080
c. 5.04 percent
What is GDP?Gross domestic product (GDP) is a monetary measure of the market value of all final goods and services produced and sold by countries during a specific time period. Because of its complex and subjective nature, this measure is frequently revised before being considered a reliable indicator. The gross domestic product (GDP) is the monetary value of all finished goods and services produced within a country during a given time period.GDP provides an economic snapshot of a country and is used to estimate the size of an economy and its growth rate. GDP can be calculated in three ways: through expenditures, production, or income. Gross domestic product, or GDP, is a metric used to assess the health of a country's economy.To learn more about GDP, refer to:
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PLS HURRY I AM ON A TIMER! what types of people can you learn from on Twitter?
A.Only professors
B.Only industry experts
C.Only fellow students
D.Anyone interested in the topic
Answers
Answer:
D.Anyone interested in the topic
Explanation: hope this helps
Identify the supply chain management process that produces, tests, packages, and prepares products for delivery.
Answers
Answer:
Supply chain execution system
Explanation:
supply chain execution system
50 points. Ethics are essential in good accounting. For this assignment, find examples of poor ethical behavior in accounting and some of the fallout of those behaviors. Remember to use good writing habits. Cite your sources.
Answers
Answer:
Ethics of accounting information is providing accounting information to make good economic decisions in the financial statement of the organization.
Explanation:
If $2,000,000 of 10% bonds are issued at 97, the amount of cash received from the sale is
a. $2,100,000
b. $2,060,000
c. $2,000,000
d. $1,940,000
Answers
The amount of cash received from the sale of $2 million bonds issued at 97% of face value is $1.94 million. The issue price is calculated by multiplying the face value by 97%, which is $1.94 million.
Hence, the correct option is (d).
To calculate the amount of cash received from the sale of $2,000,000 of 10% bonds issued at 97, we need to multiply the bond's face value by the percentage of the issue price.
The issue price is given as 97% of the face value. To find the issue price, we calculate:
Issue price = Face value x (97/100)
= $2,000,000 x (97/100)
= $1,940,000
Therefore, the amount of cash received from the sale is d. $1,940,000.
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11. What percentage of your salary should go to savings? (1 point)
05%
O 10%
O 20%
O 50%
Answers
Answer:
20%
Explanation:
Answer: 10%
Explanation: Took test
Tobias is the manager of a major ski resort in Colorado that is open from October through March. What best describes his terms of employment?
seasonal
full-time
self-employed
entry level
Answers
Answer: It's seasonal.
Explanation:
16. What are the primary functions of business management? a Planning, organizing, controlling b. Strategizing, communicating, planning c. Finance, operations, management -d. Marketing, accounting, human resource management
Answers
At its most fundamental level, management is comprised of the five general duties of organizing, staffing, leading, and managing.
Business Management: The term "business management" refers to the control of business operations. Business managers oversee daily operations and encourage maximum productivity from their staff. A manager can aid a corporation in achieving its operational and financial goals by supervising or training new staff.
A business manager is in charge of managing an organization's operations and workforce. They carry out a range of activities, such as implementing business strategy, assessing business performance, and managing people, to guarantee the efficiency and effectiveness of the company.
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⦁ Give me an example of how you have demonstrated safe work practices.
Answers
An example of safe work practices is cleaning and maintaining equipment and tools.
Safe work procedures are instructions on how to execute work in a safe manner and are essential for all hazardous jobs performed at your business. They identify dangers and explain what has to be done to remove or reduce risks.
Cleaning and maintaining equipment and tools properly can help to avoid accidents and injuries, as well as costly repairs. One method is to keep a cleaning and maintenance routine. Make a record of all equipment in use, noting important areas that require inspection.
Therefore, maintenance of equipment is how we can demonstrate safe work practices.
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Equipment and tool maintenance and cleaning are two examples of safe work practices.
All hazardous operations carried out at your company must follow safe work procedures, which are guidelines for how to carry out work in a safe manner. They point out risks and describe what has to be done to eliminate or lessen them.
Proper equipment and tool maintenance can reduce the risk of accidents, injuries, and expensive repairs. Maintaining a cleaning and maintenance schedule is one strategy. Make a list of all the equipment that is in use, noting any crucial locations that need inspection.
As a result, maintaining the equipment is how we can show safe working practices.
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FILL THE BLANK ——– economics emphasizes psychological constraints and complexities that potentially interfere with rational decision making.
Answers
Behavioral economics emphasizes psychological constraints and complexities that potentially interfere with rational decision making.
What does "rational decision-making" mean?
Intuitive decision-making is the antithesis of rational decision-making. This methodical process makes use of logic and objective knowledge. It entails recognizing the issue that needs to be resolved, acquiring information, identifying potential solutions, analyzing those solutions, taking into account all the relationships, and making a choice.
Why is it crucial to make logical choices?
Making rational decisions is crucial because it gives you a strategy for overcoming a particular obstacle or for seizing a new opportunity by assisting you in forming an unbiased outlook.
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Statement of Cash flows Non-cash Not Reported Investing & on Statement Operating Investing Financing Financing or in Notes Activities Activities Activities A. Declared and paid a cash dividend X B. Recorded depreciation expense X C. Paid cash to settle long-term note payable XD. Prepaid expenses increased in the year X E. Accounts receivable decreased in the year X F. Purchased land by issuing common stock X G. Inventory increased in the year XH. Sold equipment for cash, yielding a loss XI. Accounts payable decreased in the year X J. Income taxes payable increased in the year XIndicate where each item would appear on a statement of cash flows using the indirect method by placing an X in the appropriate column(s).
Answers
Answer and Explanation:
The classification is shown in the attachment. Please find the attachment below:
As we know that
Operating activities refers to the activities in which the changes with respect to the working capital is recorded
Investing activities refers to those activities in which the purchase and sale of long term assets are recorded
And, the last one is financing activity which deals with the stockholder equity account i.e issuance of the stock, cash dividend paid, etc
a firm has total interest charges of $10,000 per year, sales of $1 million, a tax rate of 40 percent, and a net profit margin of 6 percent. What is the firm's times interest earned ratio
Answers
Answer:
10400
Explanation:
The firm's times interest earned ratio is 10.
What is interest?
Someone borrows money during a hard time, they are paying additional amount, which is an interest. In monetary terms, interest is a yearly percentage of the loan amount. Different categories, including simple interest, compound interest, and annual interest, are used to categorize the loan.
The given amount is:
Interest charge = $10,000Sales = $1,000,000Tax rate = 40%Net profit margin = 6%firm's net income:
Net income = sales × net profit margin.
Net income = $1,000,000 × 6%
Net income = $60, 000
earnings before interest and taxes (EBIT)
EBIT = \(\frac{Net income}{1 - tax rate}\)
EBIT = \(\frac{60,000}{1 - 40}\)% (1 - 40%)
EBIT = 1000, 000
The firm's times-interest-earned ratio (TIE):
TIE = \(\frac{EBIT}{Interest charge}\)
TIE = \(\frac{100, 000}{10, 000}\)
TIE = 10
As a result, the times interest earned ratio is 10.
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Vaughn Corporation had 303,000 shares of common stock outstanding on January 1, 2017. On May 1, Vaughn issued 31,200 shares.
Required:
a. Compute the weighted-average number of shares outstanding if the 31,200 shares were issued for cash.
b. Compute the weighted-average number of shares outstanding if the 29,700 shares were issued in a stock dividend.
Answers
Answer and Explanation:
The computation of the weighted-average number of shares outstanding in each cases is as follows:
a. At the time when the shares are issued at cash
= (303,000 × 12 ÷ 12) + (31,200 × 8 ÷ 12)
= 303,000 + 20,800
= 323,800 shares
b. At the time when the shares are issued in the stock dividend
= (303,000 × 12 ÷ 12) + (29,700 × 12 ÷ 12)
= 303,000 + 29,700
= 332,700 shares
An economy where trade is encouraged and not monitored by the government is called a
a
command economy
b
free enterprise economy
c
global export economy
d
mixed enterprise economy
This is career research and decision making ITS NOT BUSINESS
Answers
Based on the principle of trade, correct answer is b. free enterprise economy
Free enterprise economyThe free enterprise economy is an economic system that is based on demand and supply with no government influence or control.In conclusion,we can conclude that free enterprise economy is the correct answer
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Answer:
B.
Explanation:
PLEASE HELP : Which of these investments may be long term? Check all that apply.
Answers
Answer:
mutual funds
bonds
retirement funds
commodities
Explanation: i just took it
On March 1, Bates Board Shop sells 300 surfboards to a local lifeguard station at a sales price of $400 per board. The cost to Bates is $140 per board. The terms of the sale are 3/15, n/30, with an invoice date of March 1. Create the journal entries for Bates to recognize the following transactions.
the initial sale
the subsequent customer payment on March 10
Answers
The Initial sale is = $42,000.
The calculation is as Follows ?Sales=Number of Units ×Sales Price
=300 surfboards×$400
=$120,000
The amount of sales is $120,000.
Cost of Goods Sold=Number of Units×Cost
=300 surfboards×$140
=$42,000
The amount of cost of goods sold is $42,000.
Accounts receivable, often known as AR or A/R, are legally enforceable claims for payment held by a firm for products supplied or services provided that consumers have requested but have not paid for.
Customer onboarding, invoicing, collections, deductions, exception management, and eventually cash posting following payment collection are all steps in the accounts receivable process.
These often take the form of invoices generated by a business and provided to the client for payment within a predetermined time limit. In a balance sheet, accounts receivable are displayed as an asset.
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its me guys I'm sorry I lied
Answers
What is the function of the Securities and Exchange Commission (SEC)?
O Monitors the money supply
O Purchases money securities
O Controls the amount of investments
O Regulates against fraud
Answers
I think it’s D
Question 1(Multiple Choice Worth 10 points)
(04.04 LC)
Which is a possible effect of identity theft?
Increased mental stress
O Increased purchasing power
Decreased loan balances
Decreased debt to credit load
Answers
Answer:
Option A, Increased mental stress
Explanation:
Increased mental stress is one of the possible effect of identity theft.
It can cause following negative impacts on the mental and physical health of an individual
a) It causes sleep disturbance
b) Physical symptoms such as aches and pains, heart palpitations, sweating and stomach issues arises
c) Post stress disorder
d) Anxiety
Hence, option A is correct
Answer:
Option A, Increased mental stress
Explanation:
took the test
1. WHAT IS TIME MANAGEMENT TO YOU AND WHY WOULD YOU MANAGE YOUR TIME BETTER?
EXAMPLE?
Answers
Answer:
Time management is when you use your time wisely to complete certain tasks.
Explanation:
If you manage your time wisely, you will get more work done. Not managing your time will result in incomplete tasks.
Which of the following is not a systematic process of controlling?
Select one:
A.
Establishing standards and methods of measuring performance.
B.
Measuring both quantity and quality
C.
Measuring performance
D.
Determining whether performance matches the standards
Answers
Measuring both quantity and quality (option B) is not a systematic process of control.
What is controlling?Controlling is described as a process in management, and it is a vital management function. It is important to mention that in the lack of any control process, management will fail to work properly. The management will fail to formulate a plan and work and will be unable to according to the implemented plan.
Measuring just the quantity and the quality, the performance measurement is overlooked. It is the main objective of control is to work as per plan and the level of performance must be by the formulated plan. However, measuring only the quality and quantity will not lead to a systematic process of control.
It can be concluded that measuring both quantity and quality (option B) is not a systematic process of control.
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Wendy is calculating her tax deductions. She finds that she can deduct $5,522 from medical expenses, $7,240 from
charitable donations, and $2,126 from property taxes. What is Wendy's total deduction?
a $5,700
b. $15,104
C. $18,284
d. $14,888
Answers
Answer:
d. $14,888
Explanation:
Wendy's total deductions will be the sum of $5,522, $7,240, and $2,126.
Total deductions will be $5,522 + $7,240 + $2,126 =$14,888
The total deduction on Wendy's tax will be $14,888.
What is tax deduction?The tax deduction refers to the amount that will be exempted from total tax payable.
Given deductible amount
Medical expenses = $5,522
Charitable donations = $7,240
Property taxes =$2,126
Wendy's total deduction = $5,522 + $7,240 + $2,126
Wendy's total deduction = $14,888
Hence, the total deduction on Wendy's tax will be $14,888.
Therefore, the Option D is correct.
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