The journal entry includes a debit to income tax for what

Assignment Help Accounting Basics
Reference no: EM132314944

Question

The seminole corporation has income before tax of 150,000 and taxable income of 65,000. The income tax rate is 35%. The journal entry includes a debit to income tax for what amount?

The response must be typed, single spaced, must be in times new roman font (size 12) and must follow the APA format.

Reference no: EM132314944

Questions Cloud

Prepare an adjusted trial balance : Prepare the statement of profit or loss and a calculation of retained earnings for July, and prepare a classified statement of financial position as at 31 July.
Have you reached out to a broward librarian for help : Name at least 5 databases available through your Library Resources and how and why you would use them? What databases do you think will be helpful to your.
Journalize and post the adjusting entry for bad debts : Journalize the adjusting entry for bad debts on December 31, 2021, assuming that the unadjusted balance in Allowance for Doubtful Accounts is a debit.
What is the effect on the existing partners capital accounts : What is the effect on the existing partners' capital accounts if a bonus is paid to a new partner upon admission into the partnership?
The journal entry includes a debit to income tax for what : The seminole corporation has income before tax of 150,000 and taxable income of 65,000. The journal entry includes a debit to income tax for what amount?
Calculate the rate of return on total assets : The Monarchs Corporation has net income of 175000, interest payable of 15000, interest expense of 3000 and average total assets of 75000.
Develop the best fitted multiple regression model : MSTL-002 Industrial Statistics Lab Assignment - Develop the best fitted multiple regression model considering carbon monoxide content as function of tar content
Explain the tax implications of compensation : Explain the tax implications of compensation in the form of salary and wages from the perspective of the employee and employer.
What are non-recognition transactions : What are non-recognition transactions, and how are they used when preparing taxes? The response must be typed, single spaced.

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

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