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Ohio Corp. reported a deferred tax liability of $6,000,000 for year ended 31st December, 2012, when the tax rate was 40%. The deferred tax liability was related to a brief difference of $15,000,000 caused by an installment sale in 2012. The temporary difference is expected to reverse in years 2013 through 2015 as $5,000,000 of installment income is expected to be known as taxable income in each of those years. There are no other temporary differences. A new tax law was passed in 2013 with tax rate remaining 40 percent through 31st December, 2013, then increase to 45% for tax years beginning after December 31, 2013. Taxable income for the year 2013 is $30,000,000. Income tax expense reported by Ohio on its year end 31st December, 2013 income statement is:
Evaluate the overhead rate for each cost driver
Describe why overhead cost shifted from the high-volume product to the low-volume product under activity-based costing.
Computation of current ratio and acid test ratio - Evaluate the following ratios for 2008 Current ratio, Acid-test ratio.
To forecast Additional funds needed using AFN equation - Use the AFN equation to forecast Carter's additional funds needed for the coming year.
Determine the sustainable growth based on the subsequent information
Evaluating revenues, expenses and income. Fill in the blanks in the following separate income statements a through e. Check any negative amount by putting it in parentheses.
Show the Preparation of segmented income statement
Gift taxes paid on property were $3,000. Find what Alfred's basis for gain is and what is his basis for loss?
Determine the accounting rate of return on this investment for the first year. Assume straight-line depreciation. Based on this analysis, would the investment be made? Explain your answer.
WACC and cost of common equity - If the firm's net income is expected to be $1.1 billion, what portion of its net income is the firm expected to pay out as dividends?
Evaluate the cost of the land and the cost of the building as they should be recorded on the books of Martin Buber Co. Assume that the land survey was for the building.
What is the adjusted budget for appraisal costs, assuming the new method is implemented and 800,000 units are tested during the manufacturing process in 20X5?
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