subject
Business, 15.11.2019 15:31 mediocresquash

For the year ended december 31, year 1, grim co.'s pretax financial statement income was $200,000 and its taxable income was $150,000. the difference is due to the following: interest on municipal bonds $70,000 premium expense on keyman life insurance (20,000) total $50,000 grim's enacted income tax rate is 30%. in its year 1 income statement, what amount should grim report as current provision for income tax expense?

ansver
Answers: 1

Other questions on the subject: Business

image
Business, 22.06.2019 00:30, johnkings140
Aprice ceiling is “binding” if the price ceiling is set below the equilibrium price. suppose that the equilibrium price is $5. if a price ceiling is set at $6, this will not affect the market in any way since $5 remains a legally allowable price (since $5 < $6). a price ceiling of $6 is called a “non-binding” price ceiling. on the other hand, if the price ceiling is set at $4, the price ceiling is “binding” because the natural equilibrium price is $5 but that is no longer allowed. what happens when there is a binding price ceiling? at a price below the equilibrium price, quantity demanded exceeds quantity supplied. there is a shortage. normally, price increases eliminate shortages by increasing quantity supplied and decreasing quantity demanded. in this case, however, price increases are not allowed past the price ceiling. we therefore predict that the observed market price will be right at the price ceiling and there will be a permanent shortage. the observed quantity bought and sold will be dictated by the quantity supplied at the price ceiling. although consumers would like to buy more, there are no more units for sale
Answers: 1
image
Business, 22.06.2019 14:00, bosskid361
Which of the following is not a characteristic of a weak economy? a. a low employment rateb. a high inflation ratec. a decreased gdpd. a high unemployment rate
Answers: 1
image
Business, 22.06.2019 14:20, deisyy101
Frugala is when sylvestor puts $2,000 into 10-year state bonds and $3,000 into 5-year aaa-rated bonds in steady hand hardware, inc. he buys the four state bonds at a 5 percent interest rate and the three steady hand bonds at a 6.5 percent rate. sylvestor also buys $1,500 worth of blue chip stocks, and $800 worth of stock in a promising new sportswear company that reinvests its earnings in new growth. 1. (a) what is the maturity for each of the bond groups sylvestor buys? (b) the coupon rate? (c) the par value?
Answers: 3
image
Business, 22.06.2019 21:50, edgarsandoval60
By which distribution system is more than 90 percent of u. s. coal shipped? a. pipelinesb. trucksc. waterwaysd. railroadse. none of the above
Answers: 1
You know the right answer?
For the year ended december 31, year 1, grim co.'s pretax financial statement income was $200,000 an...

Questions in other subjects:

Konu
Physics, 05.11.2019 07:31
Konu
Mathematics, 05.11.2019 07:31