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Question - In 2018, Ryan Management collected rent revenue for 2019 tenant occupancy. For financial reporting , the rent is recorded as deferred revenue and then recognized as income in the period tenants occupy rental property, but for income tax reporting it is taxed when collected. The deferred portion of the rent collected in 2018 was $40 million. Taxable income is $170 million. No temporary differences existed at the beginning of the year, and the tax rate is 30%. Suppose the deferred portion of the rent collected was $30 million at the end of 2019. Taxable income is $190 million.
Prepare the appropriate journal entry to record income taxes.
Which of the following is not added back to taxable income when computing AMTI?
what is the total present value of the following cash stream discounted at 8 percent?year amount1 4002 7503 9454 1455
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What is the total static-budget variance? A. $5,200 favorable b. $3,320 favorable c. $1,880 unfavorable d. $1,880 favorable 250. _______________ is a carefully predetermined amount usually expressed on a per-unit basis.
(a) a note payable for $100,000 due in 2 years, (b) a 10-year mortgage payable of$200,000 payable in ten $20,000 annual payments, (c) interest payable of $15,000 on the mortgage, and (d) accounts payable of $60,000. For each obligation, indicate w..
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Why is the reporting of estimates and assumptions required, and what information is disclosed about Starbucks' reporting of estimates and assumptions
On July 1, 2014, Torvill Construction Company Inc. contracted to build an office building for Gumbel Corp. for a total contract price of $1,900,000.
for the most recent accounting year a company reported the following operating and cash activities investments in other
Prepare the required note disclosure for the long-term debt at December 31, 2017
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