Solution-What the december income tax payable for bedford

What the december income tax payable for bedford

Assignment Help Accounting Basics

Reference no: EM132838658

Bedford had this info at the end of 2024, its first year of operations:

Pretax book income. $800000.

Estimated litigation expense $200000

Excess of taxer book deprecation $300000

Interest income on municipal bonds $100000.

No other permanent or temporary differences exist. The litigation item will be paid in 2025. The depreciation will reverse evenly over the next three years. Tax rate is 30%. Future net income is probable.

Problem 1: The 12/31/24 Income Tax Payable is:

Select one:

a. $60,000

b. $150,000

c. $180,000

d. $240,000

e. $120,000

Reference no: EM132838658

Questions Cloud

What will be its new level of accounts receivable : Brenmar's current assets equal $1.6 million, If Brenmar reduces its average collection period to 20 days, what will be its new level of accounts receivable

What are some of the causes related to the trend : What are some of the causes or consequences related to the trend you identified earlier this week? (Or, if you posted something about a policy or event.

Does the result of estimation just completed fully support : Does the result of the estimation you just completed fully support the suspicion of the manufacturer? Yes or no? Why? Present your reasoning.

Discuss difference with sex related to young and late adults : For this week, you will discuss the difference with sex related to young, middle and late adults. How does the chapter explains if there are any differences?

What the december income tax payable for bedford : What the 12/31/24 Income Tax Payable is? No other permanent or temporary differences exist. The litigation item will be paid in 2025.

Systems analysis-design skill building : You have been asked to assist in project planning for a new systems development project. The project has been defined to contain the activities

Is augustine view of history optimistic or pessimistic one : What do you think of Augustine's view that history is not random but follows a pattern? Do you agree with his emphasis on history as a moral struggle between.

What amount would matsui report in year-end : Assume that, on January 1, 2021, What amount would Matsui report in its year-end 2021 balance sheet for its investment in Yankee?

What will the fair value of the bond at the time of sale : Interest payments are scheduled to occur on 6/30 and 12/31 each year. What will the fair value of the bond at the time of sale

User Account

All Pages

What the december income tax payable for bedford

Reference no: EM132838658

Reference no: EM132838658

Questions Cloud

Reviews

Write a Review

Accounting Basics Questions & Answers

How much control does fed have over this longer real rate

Coures:- fundamental accounting principles

Accounting problems

Theory of interest - term structure of interest rates

Write a report on internal controls

Prepare the bank reconciliation for company

Cost-benefit analysis

Theory of interest

Liquidity and profitability

What is the expected risk premium on the portfolio

Simple interest and compound interest

Capm and venture capital

Assured A++ Grade

Academics

Major Subjects

Majors

Get In Touch

TERMS & POLICIES

HELP & SUPPORT