North Dakota Corporation began operations in January 2020 and purchased a machine for $26,000. 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 $156,000, which includes interest revenue of $23,000 from municipal bonds. The enacted tax rate is 30% 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. Show well-labeled computations for the amount of income tax payable and the change in the deferred tax account.
Answers: 1
Business, 22.06.2019 05:20, lauren21bunch
142"what is the value of n? soefon11402bebe99918+19: 00esseeshop60-990 0esle
Answers: 1
Business, 22.06.2019 07:30, cherylmorton7302
What is the relationship between the national response framework and the national incident management system (nims)? a. the national response framework replaces the nims, which is now obsolete. b. the response protocols and structures described in the national response framework align with the nims, and all nims components support response. c. the nims relates to local, state, and territorial operations, whereas the nrf relates strictly to federal operations. d. the nims and the national response framework cover different aspects of incident management—the nims is focused on tactical planning, and the national response framework is focused on coordination.
Answers: 3
Business, 22.06.2019 12:10, mcguirefam7071p2mbzz
Drag each label to the correct location on the image determine which actions by a manager are critical interactions - listening to complaints - interacting with customers - responding to complaints - assigning staff duties -taking action to address customer grievances -keeping track of reservations
Answers: 2
Business, 22.06.2019 13:10, legendman27
Laval produces lamps and home lighting fixtures. its most popular product is a brushed aluminum desk lamp. this lamp is made from components shaped in the fabricating department and assembled in the assembly department. information related to the 22,000 desk lamps produced annually follows. direct materials $280,000direct labor fabricating department (8,000 dlh Ă— $24 per dlh) $192,000assembly department (16,600 dlh Ă— $26 per dlh) $431,600machine hours fabricating department $15,200mhassembly department $20,850mhexpected overhead cost and related data for the two production departments follow. fabricating assemblydirect labor hours 150,000dlh 295,000dlhmachine hours 161,000mh 128,000mhoverhead cost $400,000 430,000required1. determine the plantwide overhead rate for laval using direct labor hours as a base.2. determine the total manufacturing cost per unit for the aluminum desk lamp using the plantwide overhead rate.3. compute departmental overhead rates based on machine hours in the fabricating department and direct labor hours in the assembly department.4. use departmental overhead rates from requirement 3 to determine the total manufacturing cost per unit for the aluminum desk lamps.
Answers: 3
North Dakota Corporation began operations in January 2020 and purchased a machine for $26,000. North...
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