Compute randolph company''s current income tax expense

Assignment Help Other Subject
Reference no: EM13175880

This problem does have a definitive correct and incorrect treatment. . Randolph Company reported pretax net income from continuing operations of $800,000 and taxable income of $500,000. The book-tax difference of $300,000 was due to a $200,000 favorable temporary difference relating to depreciation, an unfavorable temporary difference of $80,000 due to an increase in the reserve for bad debts, and a $180,000 favorable permanent difference from the receipt of life insurance proceeds. Randolph Company's applicable tax rate is 34%.

a. Compute Randolph Company's current income tax expense.

b. Compute Randolph Company's deferred income tax expense or benefit.

c. Compute Randolph Company's effective tax rate.

d. Provide a reconciliation of Randolph Company's effective tax rate with 

its hypothetical tax rate of 34%.

Reference no: EM13175880

Questions Cloud

Which reaction occurs at the cathode : During the electolysis of fused BaCl2, which reaction occurs at the cathode? (1)Chloride ions are oxidized (2) Chloride ions are reduced (3) Barium ions are oxidized (3) Barium ions are reducued
What would be the new pressure in the gas : if a sample of gas is at 2 atm and is at 15 degrees celsius, what would be the new pressure in the gas if the gas is heated to 100 degrees celcius?
Cabinet departments-regulatory agencies : Discuss the key characteristics of the four basic types of federal agencies: cabinet departments, regulatory agencies, government corporations, and independent executive agencies.
What is the combined monetary value : A small collection of dimes and quarters are submerged in 10.00 mL of water in a graduated cylinder causing the water level to rise to the 18.87 mL mark. What is the combined monetary value (in Can$) of those coins?
Compute randolph company''s current income tax expense : The book-tax difference of $300,000 was due to a $200,000 favorable temporary difference relating to depreciation, an unfavorable temporary difference of $80,000 due to an increase in the reserve for bad debts, and a $180,000 favorable permanent diff..
What is the molarity of the final solution : If 290. mL of 0.130 M KOH are mixed with 200. mL of 0.430 M KOH, what is the molarity of the final solution?
Determine to two decimal places the molar masses : Given the reaction by the equation Mg + 2HCL yeilds H2 + MgCl2, determine to two decimal places the molar masses of all substances involved.
What mass of barium is produced : what mass of barium is produced when molten BaCl2 is electrolyzed by a current of 3.30 105 A for 7.00 hours?
Calculate the present equivalent value of the machine : Calculate the present equivalent value of the machine and the contribution to the cost of processing the material, per kg, resulting from the capital cost of the machine.

Reviews

Write a Review

Other Subject Questions & Answers

  Role of correction officers

Are the lives of prison inmates reflective of the society at large?

  Descartes versions of first cause argument

What are Aquinas' and Descartes' versions of the first cause argument? What is the distinction between a "causal series" and a "causal hierarchy"?

  Differences between simulation models and models covered

Describe the key differences between simulation models and the models covered in previous modules, not only from the perspective of their applications, but also from the perspective of computing/solving the models.

  Context of a natural or man-made disaster

Please describe these issues to me in the context of a natural or man-made disaster.

  Explain procrastination-sleep and academic performance

Study investigated procrastination, sleep, and academic performance (GPA) for North campus majors (humanities and social sciences) against south campus majors.

  Types of political systems

Societies in today's world exhibit 3 main types of political systems. What are they and what are the main characteristics of each?

  Hindu religious traditions

I would like to include more information for a paper I am writing. I want to write about an additional 1,050- to 1,200 words of information to draw on to address the following questions:

  Theoretical perspectives on human development

Can you compare three theoretical perspectives on human development? Include any similarities and differences between and among these theories.

  Analyze and describe an accidental adversary

Many times, performing our roles well impedes progress for someone else. Here's a simple example. In a university setting, there is usually a textbook manager. Her role is to order textbooks in advance and at a quantity that will ensure amble supply ..

  Describe most of higher per-pupil expenditures-midwest state

Find out which factors may describe that most of higher per-pupil expenditures are found in Northeastern and upper-Midwest states and lower per-pupil expenditures are found in South and West.

  Explain religion with positive emotions and optimism

Religion can be related with positive emotions, comprising the sense of optimism and purpose to life, and can give healthy way of coping with stress.

  Describe why customer use microsoft excel

Describe why a customer using Microsoft Excel may want to use Microsoft Access as the alternative. How would you describe usage of data between both applications to users?

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