What is the journal entry for talbert inc

Assignment Help Accounting Basics
Reference no: EM132609297

Question 1: Talbert Inc., which uses a periodic system, changed from the weighted average cost formula to the FIFO cost formula in 2020. The increase in the prior year's income before tax as a result of this change is $237,300. The tax rate is 30%. What is the journal entry?

Reference no: EM132609297

Questions Cloud

Estimate what is the price variance : What is the price variance?Budget cover: 2,000. Budget average check: $8. Actual covers: 2,100. Actual average check: $8.25.
Change and patch management : Analyze IT change management and patch management processes needed within organizations.
Create a coin counter machine program : Create a coin counter machine program and calculate the total for each domination and print it to the screen - program will ask for each denomination
Testing access control : Discuss the purpose of the security development life cycle and how it is used for testing security systems.
What is the journal entry for talbert inc : The increase in the prior year's income before tax as a result of this change is $237,300. The tax rate is 30%. What is the journal entry?
Discuss what is meant by business and financial risk : What is meant by business and financial risk. Suppose Firm A has greater business risk than Firm B. Is it true that Firm A has a higher cost of equity capital
Describe the purpose of the letter of audit inquiry : Describe the purpose of the letter of audit inquiry, who writes it, who it is addressed to, and the important inquiries that are made of the client's lawyer
Practices for change management process including policy : Identify best practices for change management process including policy, procedures, systems changes to hardware and software, and business operations
What sheffield corporations return on common stockholders : There are 113000 weighted average shares of common stock outstanding. Sheffield Corporations return on common stockholders equity was?

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