Reference no: EM13497298
(Two Differences, No Beginning Deferred Taxes, Tracked through 2 Years) The following information is available for McKee Corporation for 2010.
1. Excess of tax depreciation over book depreciation, $40,000. This $40,000 difference will reverse equally over the years 2011-2014.
2. Deferral, for book purposes, of $25,000 of rent received in advance. The rent will be earned in 2011.
3. Pretax financial income, $350,000.
4. Tax rate for all years, 40%.
(a) Compute taxable income for 2010.
(b) Prepare the journal entry to record income tax expense, deferred income taxes, and income taxes payable for 2010.
(c) Prepare the journal entry to record income tax expense, deferred income taxes, and income taxes payable for 2011, assuming taxable income of $325,000.
|
Calculate the speed of the approaching vehicle
: A student in a parked car honks the horn, which has a `proper' frequency of 310 Hz. Calculate the speed of the approaching vehicle
|
|
What is the inductance of the solenoid per unit length
: A solenoid is wound with a single layer of copper wire of radius 0.370 cm. The solenoid is 4.50 cm in diameter and 1.60 cm long. What is the inductance of the solenoid per unit length
|
|
What is the net force acting on the mass
: a block mass 15.92kg supported by a vertical massless cable is initially at rest. The block is then pulled upward with a constant acceleration of 2.11m/s^2. what is the net force acting on the mass
|
|
Estimate the tension in the cable
: a block mass 15.92kg supported by a vertical massless cable is initially at rest. The block is then pulled upward with a constant acceleration of 2.11m/s^2. What is the tension in the cable
|
|
Prepare the journal entry to record income tax expense
: Prepare the journal entry to record income tax expense, deferred income taxes, and income taxes payable for 2011, assuming taxable income of $325,000.
|
|
What is the angular speed of the wheels
: A car initially traveling at 24.3 m/s undergoes a constant negative acceleration of magnitude 1.40 m/s2 after its brakes are applied. What is the angular speed of the wheels when the car has traveled half the total distance
|
|
How far apart are adjacent interference fringes
: Two thin slits are 0.050 mm apart. Monochromatic light of wavelength 634 nm falls on the slits. If there is a screen 6.0 m away, how far apart are adjacent interference fringes
|
|
Prepare unadjusted trial balance
: Shah Reza, a 3rd Year accounting student, decided to carry out carwash services during the semester break to earn some extra income for the new academic session 2012/2013.
|
|
What is the speed of the water leaving the nozzle
: Water flowing through a garden hose of diameter2.70cm fills a20.0-L bucket in1.30min. what is the speed of the water leaving the nozzle
|