Business, 13.10.2020 04:01, rurbanok12
Gillock, Inc. uses MACRS for its income tax return and the straight-line method for its financial statements. On January 1, Year 1, the company purchased a long-term asset that cost $130,000 and has a $10,000 salvage value and an expected 8-year useful life. MACRS specifies a 5-year life for that asset and a depreciation rate of 20% for the first year of its life. Which of the following would the company show on its financial records? Depreciation expense of $26,000 on the income statement and $15,000 on the tax return Less depreciation expense on the tax return than on the income statement The same amount of depreciation expense for financial reporting as for income tax preparation A deferred tax liability will be reported on the balance sheet Which of the following would be classified as a long-term operational asset?
a) Trademark
b) Accounts receivable
c) Inventory
d) Notes receivable
Answers: 1
Business, 22.06.2019 19:40, ashley4329
Anita has been named ceo of a popular sports apparel company. as ceo, she is tasked with setting the firm's corporate strategy. which of the following decisions is anita most likely to makea) whether to pursue a differentiation or cost leadership strategy b) which customer segments to target c) how to achieve the highest levels of customer satisfaction d) what range of products the firm should offer
Answers: 2
Business, 22.06.2019 20:20, laidbackkiddo412
Tl & co. is following a related-linked diversification strategy, and soar inc. is following a related-constrained diversification strategy. how do the two firms differ from each other? a. soar inc. generates 70 percent of its revenues from its primary business, while tl & co. generates only 10 percent of its revenues from its primary business. b. soar inc. pursues a backward diversification strategy, while tl & co. pursues a forward diversification strategy. c. tl & co. will share fewer common competencies and resources between its various businesses when compared to soar inc. d. tl & co. pursues a differentiation strategy, and soar inc. pursues a cost-leadership strategy, to gain a competitive advantage.
Answers: 3
Gillock, Inc. uses MACRS for its income tax return and the straight-line method for its financial st...
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