Answer:ok
Explanation:
The difference between pretax accounting income and taxable income is due to subscription revenue for one-year magazine subscriptions being reported for tax purposes in the year received, but reported in the income statement in later years when the performance obligation is satisfied. The income tax rate is 25% each year. Times-Roman anticipates profitable operations in the future.
Question Completion:
Times-Roman Publishing Company reports the following amounts in its first three years of operation: ($ in 000s) Pretax accounting income Taxable income 2018 2019 2020 S340 $320 $310 380 330 350
Required:
1. What is the balance sheet account for which a temporary difference is created by this situation?
2. For each year, indicate the cumulative amount of the temporary difference at year-end. (Enter your answers in thousands.)
3. Determine the balance in the related deferred tax account at the end of each year. Is it a deferred tax asset or a deferred tax liability? (Enter your answers in thousands.)
Answer:
Times-Roman Publishing Company
1. The balance sheet account for which a temporary difference is created by this situation is the Deferred Subscription Revenue.
2. Cumulative amount of the temporary difference at year-end:
December 31, ($ in 000s) 2018 2019 2020
Cumulative Temporary Difference $40 $50 $90
3. The balance in the related deferred tax account for each year:
December 31, ($ in 000s) 2018 2019 2020
Deferred Tax Asset (Liability) $10 $2.5 $10
They are all deferred tax assets.
Explanation:
a) Data and Calculations:
December 31, ($ in 000s) 2018 2019 2020
Pretax accounting income $340 $320 $310
Taxable income 380 330 350
Temporary Difference $40 $10 $40
Cumulative Temporary Difference $40 $50 $90
Deferred Tax Asset (Liability) $10 $2.5 $10
a) A deferred tax asset arises from the overpayment or advance payment of taxes as a result of the temporary differences between the accounting income and the taxable income. On the other hand, a deferred tax liability arises from the underpayment of taxes as a result of the temporary differences between accounting income and taxable income.
When a product is a ______, the more ______ its demand.
Answer:
oil
Explanation:
what's the context, what are the possible options for input?
The way you have the question now is super vague and unanswerable
On August 24, Edward Charles offered to sell his 1967 Chevy Corvette Convertible for $150,000 to Mark Anderson. Anderson offered to pay $125,000. On August 24, Charles rejected Anderson’s offer of $125,000. On August 28, Anderson offered $150,000 for the car. Charles refused to sell and Anderson sued for specific performance of the contract. Will the court require Charles to sell the car? Use legal theories and the facts to support your answer.
Answer:
No, Charles will not be required to sell. The original deal involved $150,000, but the Anderson made a counteroffer which eliminates the original deal. Since Charles rejected the counteroffer, there is no legal obligation between both parties. If the car is going to be sold, new terms must be agreed by both parties.
An electronics manufacturer in Japan creates a strategic partnership with a
large retailer in the United States. They both invest funds into the partnership
and share in the control of the distribution and resources. The Japanese
company gets a tax advantage because of this partnership, and the U.S.
company gets an advantage because of the exclusivity agreement to carry
these electronic products. Which type of global entry strategy does this
example highlight?
Answer:
Creating a joint venture.
Explanation:
A foreign direct investment (FDI) can be defined as an investment made by an individual or business entity (investor) into an investment market (industry) located in another country. The investor here, shares a different country of origin from the country where his investment is located. In a foreign direct investment (FDI), an investor must establish his business, factory and operations in a foreign country or acquire assets in a business that is being operated in a foreign country.
Additionally, foreign direct investment (FDI) are categorized into three (3) main types and these are;
1. Vertical FDI: it involves establishing a different business that is however similar to the main business owned by the investor.
2. Horizontal FDI: it involves establishing the same type of business in a foreign country as owned in the investor's country.
3. Conglomerate FDI: it involves establishing a business that is completely different in another (foreign) country.
A joint venture can be defined as a type of business partnership which typically involves making direct investment in a foreign country with a domestic partner. It is typically established or initiated by two or more people on mutual grounds to make profits and sharing costs.
In this scenario, an electronics manufacturer in Japan creates a strategic partnership with a
large retailer in the United States.
Thus, the type of global entry strategy which this example highlight is creating a joint venture.
what are the steps in the recording process
A company had the following purchases and sales during its first year of operations: Purchases Sales January: 10 units at $120 6 units February: 20 units at $125 5 units May: 15 units at $130 9 units September: 12 units at $135 8 units November: 10 units at $140 13 units On December 31, there were 26 units remaining in ending inventory. Using the Perpetual FIFO inventory valuation method, what is the cost of the ending inventory
Answer:
$3540.
Explanation:
FIFO means first in, first out. It means that it is the first purchased inventory that is the first to be sold
Ending inventory comprises of goods bought in May, September and November
cost of the ending inventory :
(4 x $130) + (12 x $135) + (10 x$140) = $3540