Calculate oriole company current income tax expense

Assignment Help Financial Accounting
Reference no: EM13127287

"Oriole Company reported pretax net income from continuing operations of $1,000,000 and taxable income of $1,200,000. The unfavorable book-tax difference of $200,000 was due to a $200,000 favorable temporary difference relating to depreciation, an unfavorable temporary difference of $300,000 due to an increase in the reserve for bad debts, and a $100,000 unfavorable permanent difference from the disallowance of compensation expense related to the exercise of incentive stock options. Oriole Company's applicable tax rate is 34%. Compute Oriole Company's current income tax expense.

Reference no: EM13127287

Questions Cloud

Complex number-inverse trigonometric function : The format for the final answer should be similar to this one: if the problem is tan^(-1) * (2i). answer: (n + 1/2)*pi + (i/2) * ln(3) , (n =0, +-1, +-2,...)
What are the pros and cons to toyota : Why do you think Toyota is expanding so aggressively outside of Japan instead of focusing more on manufacturing in Japan and exporting to other countries?
Prepare a targeted plan : Prepare a targeted plan in which you present your detailed strategies to recruit and select 20 Engineers to hire within 8 months.
Gaap financial statement purpose : Rubarb farms depreciates its assets at a faster rate for tax purposes than to GAAP financial statement purposes, and invest heavily in municipal bonds. in its first year of operation, the year ended Dec 31, year 1.
Calculate oriole company current income tax expense : a $100,000 unfavorable permanent difference from the disallowance of compensation expense related to the exercise of incentive stock options. Oriole Company's applicable tax rate is 34%. Calculate Oriole Company's current income tax expense.
Explain working with triple point : Working with triple point, The sublimation pressures of solid chlorine are 352 Pa at -112 C and 35 Pa at -126.5 C. The vapor pressures of liquid Chlorine are 1590 Pa at -100 C and 7830 Pa at -80C
Values of some complex integrals : Find the value of the integral of g(z) around the circle |z - i| = 2 in the positive section when g(z) = 1/(z^2+4)
Calculate difference in pressure between methane & ideal gas : 13.00 moles of gas are in a 5.00 L tank at 22.6 C. Calculate the difference in pressure between methane and an ideal gas under these conditions. The van der Waals constants for methane are a = 2.300 L^2*atm/mol2 and b = 0.0430 L/mol.
Find percentage of defective washers produced by machine : Determine the percentage of defective washers produced by this machine, assuming the diameters are normally distributed.

Reviews

Write a Review

Financial Accounting Questions & Answers

  Financial statement analysis and preparation

Financial Statement Analysis and Preparation

  Shareholder of a company

Describe the ways that a person can become a shareholder of a company. Why Wal-Mart would split its stock?

  Financial and accounting principles

An understanding of financial and accounting principles can be a valuable tool for managers. While not all managers will find themselves calculating financial ratios or preparing annual financial data.

  Prepare a statement of cash flow using the direct method

Prepare a Statement of Cash Flow using the Direct Method and Prepare the Operations section of the Statement of Cash Flow using the Indirect Method.

  Financial accounting assignment

This assignment has one case study and two question apart from case study. Questions related to document Liquidation question and Company financial statements question - Torquay Limited

  Prepare general journal entries for goela

Prepare general journal entries for Goela Ltd

  Principles of financial accounting

Prepare the journal entry to record the acquisition of the assets.

  Prepare general journal entries to record the transactions

Prepare general journal entries to record the transactions, assuming use of the periodic inventory system

  Global reporting initiative

Compare the view espoused by the economist Milton Friedman about the social responsibilities of business with the views express by Stigler.

  Explain the iasb conceptual frameworks

Explain the IASB Conceptual Framework's perspective of users and their decisions.

  Determine the company''s financial statements

T he focus of the report is to determine the extent to which you are comfortable relying on the financial statements as presented by management .

  Computation of free cash flow

Computation of Free Cash Flow

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd