Becky was asked to divide a rectangle into 4 equal pieces and to shade one of those pieces. is becky right or not?

In some cases, it is safe to avoid insurance because

Brums [2.3K]

It may not be needed

8 0

2 years ago

Marlin Corporation reported pretax book income of $1,020,000. During the current year, the net reserve for warranties increased

FromTheMoon [43]

Answer:

Marlin's current income tax expense is $238,140.

Explanation:

Using the US current corporate tax rate of 21%, Marlin's current income tax expense or benefit can be determined by taking into consideration the effects of other revenue and expenses items on the pretax income to obtain taxable income as as follows:

Particulars Amount ($)

Pretax book income 1,020,000

Increase in net reserve for warranties 29,000

Amount of depreciation exceeded 102,000

Dividends received deduction (17,000)

Taxable income 1,134,000

Tax expense (21% * $1,134,000)  (238,140) 

Income after tax 895,860

Therefore, Marlin's current income tax expense is $238,140.

Note:

Marlin's current income tax expense is obtained as follows:

Tax expense = Tax rate * Taxable income = 21% * $1,134,000 = $238,140.

5 0

2 years ago

The director of hr at multimedia corporation is concerned about some stereotyping which has occurred in the work environment. to

alex41 [277]

To combat this stereotyping the HR director has decided to "adopt more transparent practices".

Nowadays, pay transparency is an interesting issue among HR and compensation experts. Pay transparency doesn't need to be a win or bust approach where everybody knows every other person's compensation. Or maybe, we trust transparency is a range. It's how much an association will examine its general pay rehearses. Pay transparency is significantly something other than the dollar sum a business pays every worker. It's additionally being more open about how pay was resolved and giving a clarification of the organization's compensation grades.

4 0

2 years ago

Computing Depreciation and Accounting for a Change of Estimate Lambert Company acquired machinery costing $110,000 on January 2,

lesya692 [45]

Answer: please see answers in explanation column

Explanation:

a) Under straight-line method,

Depreciation expense =(Cost - residual value) ÷ No of years =

= ($110,000 - $15,000) ÷ 6 years = $15,833 which refers to the yearly depreciation expense.

Therefore, the yearly depreciation expense of $15,833 will be applied to the Years 2019, 2020 and 2021.

Total depreciation for all the three years equals

$15,833 x 3 years = $47,499.

(b) The double-declining method

which is 2 x Straight - Line Depreciation Percentage x Book value

Straight - Line Depreciation Percentage

100% ÷ 6 years = 16.67%,

Therefore, Year 2019= 2 x 16.67% x $110,000 = $36,663

Year 2020=2 x 16.67% x $73,337 ($110,000 - $36,663) = $24,443

Year 2021=2 x 16.67% x $48,894 ($73,337 - $24,443) = $16,296

The total of the three years ie 2019 to 2021 =$77,402

(c) Given that in 2021 which is after 2 years, the revised estimated useful life becomes 7 years and the residual value is $10,000

Depreciation Using the straight-line method becomes

Depreciation expense =(Cost - residual value) ÷ No of years

But Net Book Value, which is the cost at the end of 2019

$110,000 - $15,833 x 2 years = $78,334

Therefore, Depreciation expense= ($78,334 - $10,000) ÷ 7 years = $9,762

Also,

Using double-declining method,

Straight - Line Depreciation Percentage = 100% ÷ 7 years = 14.29%,

Year 2021,

2 x 14.29% x $48,894 ($73,337 - $24,443) = $13,969

6 0

1 year ago

Brief Exercise 8-5 Blossom Company uses the percentage-of-receivables basis to record bad debt expense and concludes that 4% of

Delicious77 [7]

Answer:

The adjusting journal entry to record bad debt expense for the year:

Debit Bad debts expense $13,831

Credit Allowance for doubtful accounts $13,831

Explanation:

Blossom Company uses the percentage-of-receivables basis to record bad debt expense.

At the end of the year, Accounts receivable are $419,300 and 4% of accounts receivable will become uncollectible.

Estimated uncollectible = $419,300 x 4% = $16,772

Before adjusting, the allowance for doubtful accounts has a credit balance of $2,941.

Bad debts expense = $16,772 - $2,941 = $13,831

The adjusting journal entry:

Debit Bad debts expense $13,831

Credit Allowance for doubtful accounts $13,831

3 0

2 years ago