Are the formal of te lands that can use shush and the baby one is the
Answer:
Baltimore Inc.
a. Total taxable income = $47,200
b. Income tax payable = $11,800
c. Income tax expense = $11,250
d. Net income = $33,750
Explanation:
a) Data and Calculations:
GAAP determined pretax income = $45,000
Add nondeductible fines 5,000
Less exempt municipal interest revenue 2,800
Total taxable income $47,200
Income tax (25%) 11,800
Income tax expense:
GAAP determined pretax income = $45,000
Income tax (25%) 11,250
Net income $33,750
b) The differences between the GAAP determined pretax income and the tax determined taxable income are due to permanent differences (not temporary). This implies that there are no deferred tax assets and liabilities and no recoveries from deferred taxes. However, in reporting its financial performance for the year, Baltimore Inc. still has to comply with the GAAP rules and not the tax rules.
True, When establishing general ledger accounts opening balances will always be zero. A ledger is a full record of all transactions over the lifetime of a company. When the company is first starting out, there is a zero balance because transactions have not been put on the ledger yet. The longer the company is in business, the more transactions there will be on the ledger.
Answer:
$3,233.12
Explanation:
Data given in the question
Purchase value of two coins = $790
First coin rate = 7.3%
Second coin rate = 6.7%
So, after considering the above information, the amount worth in 20 years
= Purchase value of two coins ×(1 + interest rate)^number of years
= $790 × (1 + 0.073)^20
= $790 × 4.0925541961
= $3,233.12
Answer:
Possession utility
Explanation:
Possession utility is the value consumers derive from purchasing a good and there is an option for them to make use of the good for the primary function it was made to perform or when it is possible to make use of the good in another way.
The possession utility of a product can increase when a customer is given a means of finance that affords him an immediate enjoyment of a commodity by paying little or no money for it.
Therefore, possession utility increased when fast-food restaurants began accepting credit.