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!
The accounting records of Perkins Inc. show the following data for 2019. Pretax financial income was $640,000. Life insurance expense on officers was $16,000. Equipment was acquired in early January for $450,000, straight-line depreciation over 5 year life is used, with no salvage value. For tax purposes, Perkins Inc. used a 40% rate to calculate depreciation. Product warranties were estimated to be $75,000 in 2018. Actual repair and labor costs related to the warranties in 2019 were $15,000 and the remainder is estimated to be paid evenly in 2029 and 2021. Sales on an accrual basis were $160,000. For tax purposes, $90,000 was recorded on the installment sales method. Fines incurred for pollution violations were $3,600. The tax rate is 30%.
Required:
Question 1: Prepare the journal entries related to Deferred Tax in 2019.
Explain financial inclusion and why is it or not important? how can digital technology and finance help the underbanked individuals and/or groups?
Advise Steve on his legal position in relation to each transaction, backing up your answers with relevant rules of law.
(Bond issued at face value) Green Tea issued $300,000 of 10% bonds on January 1, 2015. The bonds are due January 1, 2020, with interest payable each July 1 and January 1. The bonds are issued at face value. Prepare Green Tea’s journal entries for (a)..
Calculate the annual compound growth rate of the house price since the house was sold to Mark and Ann Kington (since 2000) until the price
Calculate the minimum transfer price that the Chip Division should accept. Discuss whether it is in the Chip Division's best interest to accept the offer.
Compute the inventory turnover and? days' sales in inventory using the corrected income statement for the three years.?
Last month when Holiday Creations, Inc., sold 35,000 units, total sales were $307,000, total variable expenses were $245,600, and fixed expenses were $38,800
On January 1, 2014, Merchandise Credit Union (MCU) issued 7%, 20- year bonds payable with face value of $300,000. The bonds pay interest on June 30 and December 31. If the market interest is 6% when MCU issues its bonds, will the binds the priced at ..
Rottino Company purchased a new machine on October 1, 2017, at a cost of $118,000. The company estimated that the machine will have a salvage value of $12,000. The machine is expected to be used for 10,000 working hours during its 5-year life. Comput..
Compute the amount of realized gross profit to be recognized on the 2008 income statement, prepared using the installment-sales method.
Calculate the minimum number of patient-days required for Pediatrics to break even for the year ending June 30, 2020, if the additional beds are not rented
Quadrado uses the LIFO method to account for inventory costs. Determine cost of goods sold amounts to record dor the three months ending September 30,2011.
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