Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Question - The Matrix Company began operations as of the beginning of 2015. During 2015, Matrix reported GAAP (book) income before taxes of $789,500. For income tax purposes, depreciation expense was $150,000; for GAAP (book) purposes, depreciation expense was $74,000. Matrix accrued $900,000 of revenue for GAAP (book) purposes during 2015; $600,000 of the accrued revenue was taxable during 2015. Matrix earned interest of $79,800 from a municipal bond investment during 2015. Matrix's marginal income tax rate is 40%. Matrix did not make any income tax payments during 2015.
Required -
a. Determine Matrix's taxable income for the year ended December 31, 2015.
b. Prepare the 2015 year-end journal entry to record income tax expense.
myriad biotech plans a 104 million ipo in which the offering price to the public will be 51 per share. the company will
Prepare the entries necessary to correct the books for the truck transaction assuming straight-line depreciation should be used and the books have been closed for 2013. Calculate the DDB depreciation recorded in 2013 for the cement plant.
xyz companys market for the model 55 has changed significantly and yxz has had to drop the price per unit from 275 to
Prepare the journal entries for the first interest payment due on October 1, 2016. Assume that interest has not been accrued at each month end.
Find the accounts receivable turnover ratio to one decimal place.Dorchester Company had the following balances at the end of 2018 and 2019 respectively
Actual manufacturing overhead incurred in December amounted to $252 000. Calculate Connectta's overapplied or underapplied overhead for the year.
petty cash transactionsa small company maintains a petty cash fund for minor expenditures. in june and july 2011 the
n is a sole proprietor of a business. in the current year the business had gross income of 15000 and operating expenses
Determine the project's net present value at a discount rate of 26 percent
the following direct materials and direct labor data pertain to the operations of batista manufacturing company for the
The partners share net income and loss in the ratio of 3:2:1. Prepare a statement of partnership liquidation for the period July 1-29, 2010.
What are the purposes of financial regulations? Briefly discuss the similarity and relation of nominal and real interest rates
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!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd