Answer:
$48,840.00
Explanation:
If the average income is $37,000
A graduate expects to earn 32% above average.
The graduate will earn $37,000 +( 32% of $37,000)
=$37,000 +(32/100 + 37,000)
=$37,000 + $11,840.00
= $48,840.00
Answer:
Defining current and deferred tax first;
Current Tax - Current tax is the amount of Income Tax determined to be payable in respect of taxable income for a period.
Deferred Tax - Deferred tax is the tax effect of the timing difference. The difference between the tax expenses (which is calculated on an accrual basis) and current tax liability to be paid for a particular period as per Federal Income Tax Law is called deferred tax (asset/liability). That is why Tax Expenses + Current Tax + Deferred Tax
on the basis of the above explanations the question has been solved below:-
Particulars Amount
Current Year Income as per financial accounting $ 48,000
Current Year Taxable Income as Income Tax Laws $ 38,000
Current Year Tax Payable on Income Taxable under Federal Income Tax Laws $ 5,600
Current Year Tax Payable on Income as per financial accounting $ 7,600
Deferred Tax Asset to be recorded in Books of Accounts $ 2,000
Tax Rate to be used to record Deferred Tax Asset in Books = 20%
Answer:
1. Attached is the Stockholder's equity section of the company's balance at the end of the current year.
Preferred stock = 2,500 (half of 5,000) were issued at par value of $100 each = 2,500 * 100 = $250,000
Additional Paid in capital for Preferred stock = (103 - 100) * 2,500 = $7,500
Common stock = 59,000 issued at stated value of $2 = 59,000 *2 = $118,000
Additional Paid in capital for Common stock = (22 - 2) * 59,000 = $1,180,000
2. The Stockholder's equity section is prepared with the book values of the relevant entries. As such, it WILL NOT be affected by changes in market value.
Answer:
D. The gold coins are a commodity money because even though they were issued by a foreign government, the gold has intrinsic value
Explanation:
Commodity money is money that has intrinsic value. Its value can be derived from the material from which it is made. E.g. gold, salt, silver
Fiat money is money that has no intrinsic value but the government establishes it as money.
I hope my answer helps you
Answer:
the ringht answer is C.
Explanation:
the accomplishment of goals in the organization that would help her in the summary of her personal characteristics because, they are all the contributions that she has offered to the company at a professional level to contribute in the good management of her processes
