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In its first two years of operations, ending in 2020, Odoi Inc paid taxes of $5,700on taxable income of $30,000. The tax rate for 2021 is 20%.Odoi Inc's loss before taxes for 2021 is $152,000. Odoi Inc's expenses included$710,000 of depreciation expense, and meals and entertainment costs of $18,000(they are one-half deductible for tax purposes).At the beginning of the year, Odoi Inc had a future tax liability of $24,700 based on$130,000 of temporary differences related to its fixed assets.Odoi Inc will claim $660,000 of CCA in 2021. Management anticipates using all ofthe loss carryforwards within the allowable carryforward period.Odoi Inc has a calendar year end.Required:a) Calculate Odoi Inc's taxable income/loss for 2021.b) Prepare the journal entries to record income taxes for 2021.c) Calculate Odoi Inc's 2021 total tax expense/recovery. What is their effective taxrate for 2021?
The times interest earned ratio is 4.1, and the depreciation expense is $126,200. What is the value of the cash coverage ratio
If you implement a covered call strategy today and the stock price decrease to $32, what is your total profit or loss (assuming you implement the strategy)
This investment requires an initial outlay of ?$105,000 and will generate net cash inflows of ?$21,000 per year for 8 years. What is the? project NPV
What would Starbucks' ROE have been if it had accrued a $3,700 million litigation liability (and expense)? What effect did this one-time charge
The Redwood Company determined that its balance in its Accounts Receivable account represented 23% of total assets and that cost of goods sold represented 38% of total revenue. These findings are the result of
Cash collected from customers, $340,000; Cash paid for rent, $40,000; Calculate accrual net income for the year
Two products, IF and RI, emerge from a joint process. Product IF has been allocated $33,300 of the total joint costs of $54,000. A total of 2,800 units of product IF are produced from the joint process. Product IF can be sold at the split-off point f..
If return on investment is 7 percent, calculate the amount that he must invest each year until fourth year in order for him to buy the car.
At the end, What should be the balance in accounts receivable at december 31, 2017, before subtracting allowance for doubtful accounts?
Suppose that the installed cost of a commercial solar hot water heating system is $15,000. What is the net present value of the investment at 10%? At 5%
Fingen's 16-year, $1,000 par value bonds pay 8 percent interest annually. Determine the value of the bond to you, given your required rate of return
Tiggie's Dog Toys, Inc. reported a debt-to-equity ratio of 1.75 times at the end of 2018. How much of their assets are financed with debt
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