Catchall Company reports pretax financial income of $100,000 for 20x7. The following items cause taxable income to be different than pretax financial income. 1. Depreciation on the tax return is greater than depreciation on the income statement by $20,000. 2. Rent collected on the tax return is greater than rent recognized on the income statement by $30,000. 3. Interest on a municipal bond appears as a revenue of $10,000 on the income statement. 4. Prepaid insurance resulted in $2,000 less expenses on the income statement. Catchall's tax rate is 20% for all years, and the company expects to report taxable income in all future years. There are no deferred taxes at the beginning of 20X7.
Answers: 2
Business, 22.06.2019 00:50, abcdefg87
Consider each of the following cases: case accounting break-even unit price unit variable cost fixed costs depreciation 1 127,400 $ 38 $ 25 $ 711,000 ? 2 124,000 ? 41 2,500,000 $ 900,000 3 5,753 117 ? 171,000 100,000 required: (a) find the depreciation for case 1. (do not round your intermediate calculations.) (b) find the unit price for case 2. (do not round your intermediate calculations.) (c) find the unit variable cost for case 3. (do not round your intermediate calculations.)
Answers: 2
Business, 22.06.2019 21:20, eichlingkera13
Which of the following best explains how trade enables greater specialization among producers? a. trade diversifies the market by bringing specialized goods from around the world. b. trade requires distribution networks and adds one more step to the production process. c. trade enables producers to open up new markets for their goods and services. d. trade allows people to focus on one kind of production and trade for their other needs.
Answers: 1
Business, 22.06.2019 21:50, dontworry48
Abus pass costs $5 per week. which of the following equations shows the total cost in dollars, t, of the bus pass for a certain number of weeks, w? t = 5w w = 5t t = 5 + w w = 5 + t
Answers: 3
Catchall Company reports pretax financial income of $100,000 for 20x7. The following items cause tax...
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