Business
Business, 19.01.2021 04:00, Zaida21

North Dakota Corporation began operations in January 2020 and purchased a machine for $20,000. North Dakota uses straight-line depreciation over a four-year period for financial reporting purposes. For tax purposes, the deduction is 50% of cost in 2020, 30% in 2021, and 20% in 2022. Pretax accounting income for 2020 was $150,000, which includes interest revenue of $20,000 from municipal bonds. The enacted tax rate is 25% for all years. There are no other differences between accounting and taxable income. Required: Prepare a journal entry to record income taxes for the year 2020.

answer
Answers: 3

Other questions on the subject: Business

image
Business, 22.06.2019 11:10, jordanbyrd33
Robert black, regional manager for ford in texas and oklahoma, faced a dilemma. the ford f-150 pickup truck was the best-selling pickup ever, yet ford's headquarters in detroit had decided to introduce a completely redesigned f-150. how could mr. black sell both trucks at the same time? he still had "old" f-150s in stock. in his advertising, mr. black referred to the new f-150s as follows: "not a better f-150. just the only truck good enough to be the next f-150." this statement represents ford's of the new f-150.
Answers: 2
image
Business, 22.06.2019 15:20, iselloutt4fun
Kelso electric is debating between a leveraged and an unleveraged capital structure. the all equity capital structure would consist of 40,000 shares of stock. the debt and equity option would consist of 25,000 shares of stock plus $280,000 of debt with an interest rate of 7 percent. what is the break-even level of earnings before interest and taxes between these two options?
Answers: 2
image
Business, 22.06.2019 16:20, milkshakegrande101
There are three factors that can affect the shape of the treasury yield curve (r* t , ip t , and mrp t ) and five factors that can affect the shape of the corporate yield curve (r* t , ip t , mrp t , drp t , and lp t ). the yield curve reflects the aggregation of the impacts from these factors. suppose the real risk-free rate and inflation rate are expected to remain at their current levels throughout the foreseeable future. consider all factors that affect the yield curve. then identify which of the following shapes that the us treasury yield curve can take. check all that apply. a. downward-sloping yield curveb. upward-sloping yield curvec. inverted yield curve
Answers: 1
image
Business, 22.06.2019 20:00, adriannacomrosenbark
Modern firms increasingly rely on other firms to supply goods and services instead of doing these tasks themselves. this increased level of is leading to increased emphasis on management.
Answers: 2
Do you know the correct answer?
North Dakota Corporation began operations in January 2020 and purchased a machine for $20,000. North...

Questions in other subjects:

Konu
Mathematics, 16.12.2021 01:20
Konu
Mathematics, 16.12.2021 01:20
Konu
Mathematics, 16.12.2021 01:20
Konu
Mathematics, 16.12.2021 01:20
Konu
Mathematics, 16.12.2021 01:20