Business
Business, 26.07.2019 02:30, pr4ever

On its december 31, 2005 balance sheet, shin co. has income tax payable of $13,000 and a current deferred tax asset of $20,000, before determining the need for a valuation account. shin had reported a current deferred tax asset of $15,000 at december 31, 2004. no estimated tax payments are made during 2005. at december 31, 2005, shin determines that it is more likely than not that 10% of the deferred tax asset would not be realized.
in its 2005 income statement, what amount should shin report as total income tax expense?
a. $8,000
b. $8,500
c. $10,000
d. $13,000

answer
Answers: 1

Other questions on the subject: Business

image
Business, 21.06.2019 21:00, 3steves
Do you think a travel organization company might be able to get less expensive airline tickets then you as an individual could get? (no less then 25 words)
Answers: 1
image
Business, 21.06.2019 23:30, zoelynn8386
On september 12, ryan company sold merchandise in the amount of $5,800 to johnson company, with credit terms of 2/10, n/30. the cost of the items sold is $4,000. ryan uses the periodic inventory system and the net method of accounting for sales. on september 14, johnson returns some of the non-defective merchandise, which is restored to inventory. the selling price of the returned merchandise is $500 and the cost of the merchandise returned is $350. the entry or entries that ryan must make on september 14 is (are): multiple choice sales returns and allowances 490 accounts receivable 490 merchandise inventory 350 cost of goods sold 350 sales returns and allowances 490 accounts receivable 490 sales returns and allowances 500 accounts receivable 500 sales returns and allowances 490 accounts receivable 490 merchandise inventory 343 cost of goods sold 343 sales returns and allowances 350 accounts receivable 350
Answers: 1
image
Business, 22.06.2019 14:00, mrfishyyyy
Your dormitory, griffingate, has appointed you central banker of its economy, which deals in the currency of wizcoins. assume that the velocity of wizcoins in griffingate is constant at 10,000 transactions per year. right now, real gdp is 1,000 wizcoins, and there are 2,000 wizcoins in existence.
Answers: 2
image
Business, 22.06.2019 19:30, jeanlucceltrick09
Consider the following two projects. both have costs of $5,000 in year 1. project 1 provides benefits of $2,000 in each of the first four years only. the second provides benefits of $2,000 for each of years 6 to 10 only. compute the net benefits using a discount rate of 6 percent. repeat using a discount rate of 12 percent. what can you conclude from this exercise?
Answers: 3
Do you know the correct answer?
On its december 31, 2005 balance sheet, shin co. has income tax payable of $13,000 and a current def...

Questions in other subjects: