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Required: Prepare a compound journal entry to record the income tax expense. Show-well labeled computations
Pocus, Inc., reports warranty expense when related products are sold. For tax purposes, the warranty costs are deductible as incurred. At the end of the current year, Pocus has a warranty liability of $300,000 and taxable income of $20,000,000. At the end of the previous year, Pocus reported a deferred tax asset of $80,000 related to the difference in reporting warranty expense, its only temporary difference. The enact tax rate is 30% each year.
Interpret the information contained in each line item of the change statement, using your own words (row 7 in the table below). Also describe accounting policy and additional information.
What is the project's payback period? If the required rate of return is 20% and taxes are ignored, what is the project's net present value?
Determine the firm's cost of retained earnings and the cost of new common equity. and If Dempere's after-tax cost of debt is 8%, what is the WACC with retained earnings? With new common equity?
a. jayantha commenced business on 1 january 2010 with equity of 100000. during the year ending 31 december 2010 he paid
The semiannual interest dates are May 31 and November 30. The bonds are issued on July 31, 2012, at par plus accrued interest.
What's the beginning balance per the books and What are the total amounts of outstanding checks
Analyze the way banks are supervised in the U.S. and make at least one recommendation for improvement. Explain your rationale.
Explain why some accountants want to record R&D expenditures as an asset on acquisition. Under what authority can accountants record R&D as an asset?
Evaluate each of the following for every alternative Net income and Earnings per share.
tommy company budgeted the subsequent information for 2012budgeted purchases may 104000 june 110000 july 102000cost of
Is it ethical to choose a transfer price for tax purposes that is different from the transfer price used to evaluate a business unit's performance?
Amortization of discount on issue of debentures - Carson uses the sum-of-the-years-digits method of depreciation. What should the accumulated depreciation be at 31st December, 2008
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