Business, 17.04.2020 16:42, henriquetucker
A reconciliation of pretax financial statement income to taxable income is shown below for Fieval Industries for the year ended December 31, 2021, its first year of operations. The income tax rate is 25%.
Pretax accounting income (income statement) $ 300,000
Interest revenue on municipal securities (15,000 )
Warranty expense in excess of deductible amount 25,000
Depreciation in excess of financial statement amount (70,000 )
Taxable income (tax return) $ 240,000
Required:
a. What amount(s) should Fieval report related to deferred income taxes in its 2021 balance sheet?
Answers: 1
Other questions on the subject: Business
Business, 22.06.2019 08:30, labrandonanderson00
What is the equity method balance in the investment in lindman account at the end of 2018?
Answers: 2
Business, 22.06.2019 14:30, kaylahill14211
You hear your supervisor tell another supervisor that a fire drill will take place later today when the fire alarm sounds that afternoon you should
Answers: 1
Business, 22.06.2019 15:00, WowOK417
Which of the following characteristics are emphasized in the accounting for state and local government entities? i. revenues should be matched with expenditures to measure success or failure of the government entity. ii. there is an emphasis on expendability of resources to accomplish objectives. a. i only b. ii only c. i and ii d. neither i nor ii
Answers: 2
Business, 22.06.2019 20:50, fernandoramirez086
Happy foods and general grains both produce similar puffed rice breakfast cereals. for both companies, thecost of producing a box of cereal is 45 cents, and it is not possible for either company to lower their productioncosts any further. how can one company achieve a competitive advantage over the other?
Answers: 1
Do you know the correct answer?
A reconciliation of pretax financial statement income to taxable income is shown below for Fieval In...
Questions in other subjects:
Mathematics, 28.01.2021 20:10
Mathematics, 28.01.2021 20:10
Biology, 28.01.2021 20:10
