Kent Corp.'s income tax expense for the year 2021 would be $48,420. This is calculated based on the reconciliation of pretax accounting income, taxable income, and cumulative future taxable amounts from depreciation temporary differences.
To calculate Kent Corp.'s income tax expense for the year 2021, we need to consider the reconciliation of pretax accounting income and taxable income, as well as the cumulative future taxable amounts from depreciation temporary differences.
Pretax accounting income: $177,000
Permanent differences: ($15,000)
Temporary difference - Depreciation: ($12,400)
Taxable income: $149,600
Cumulative future taxable amounts from depreciation temporary differences:
As of December 31, 2020: $12,100
As of December 31, 2021: $24,500
To calculate the income tax expense, we need to determine the taxable amount related to the increase in future taxable amounts from depreciation differences during 2021. The difference is $24,500 - $12,100 = $12,400.
Next, we can calculate the income tax expense
Taxable income * Tax rate = Income tax expense
($149,600 + $12,400) * 30% = $48,420
Therefore, Kent Corp.'s income tax expense for the year 2021 would be $48,420.
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Which of the following is a source of risk for businesses?
O A. Stakeholder interests that affect the community
O B. Profit goals that are not realistic
O C. Government regulations that set minimum wages
D. Dividend analyses that show lost earnings
Answer:
Giver regulations that set minimum wages
Explanation:
A P E X
Which figure (amount) should be larger?
A. Expenses
B. income
C. Extras
D. Needs
How much interest will an account earn if you deposited \( \$ 615 \) at the end of every six months for 10 years and the account earned \( 3.00 \% \) compounded semi-annually? Round to the nearest cen
A. The interest earned on the account can be calculated using the formula for compound interest.
B. The formula for compound interest is given by:
\[ A = P \left(1 + \frac{r}{n}\right)^{nt} - P \]
where:
- \( A \) is the final amount or balance in the account
- \( P \) is the principal amount or the initial deposit
- \( r \) is the interest rate (in decimal form)
- \( n \) is the number of compounding periods per year
- \( t \) is the number of years
In this case, the principal amount \( P \) is \$615, the interest rate \( r \) is 3.00% (or 0.03 in decimal form), the compounding periods per year \( n \) is 2 (since it is compounded semi-annually), and the number of years \( t \) is 10.
Substituting these values into the formula, we can calculate the final amount and then subtract the principal amount to find the interest earned.
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hoodoo voodoo company has total assets of $64,500, net working capital of $19,450, owners' equity of $31,610, and long-term debt of $22,090. what is the company's current assets?
The Hoodoo Voodoo Company has a total asset value of $64,500, net working capital of $19,450, owners' equity of $31,610, and long-term debt of $22,090. The company's current assets are $30,250.
An asset is what?
A resource with a monetary value that is owned or managed by a person, company, or nation in the expectation that it will be beneficial in the future is known as an asset. Assets are shown on a company's balance sheet and are purchased or constructed to increase the company's value or facilitate better operations.
A future asset may increase revenue, reduce expenses, or increase sales. A patent or a piece of manufacturing machinery can be the subject here. You can sell the things you possess for money; these are your assets. An asset is any resource that a company owns or has control over in accounting terms.
Calculation:
Current liabilities = $64,500 - $31,610 - $22,090 = $10,800.
Current assets are $19,450 + $10,800 = $30,250.
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What should a consumer consider when deciding whether to purchase a new insurance policy?
A. Whether it has the highest possible deductible compared to other policies
B. Whether it has the highest possible premiums compared to other policies
C. Whether its premiums are worth more than its potential benefits over time
D. Whether its potential benefits are worth more than its premiums over time
A customer should examine if the prospective benefits outweigh the premiums.
Option D. is correct.
Define insurance.An insurance policy is a contract in which a person pays a firm money in exchange for the company promising to pay cash if the individual is harmed or dies, or to compensate for the worth of lost or damaged property.
Over time, a customer should examine if the prospective benefits outweigh the premiums.
Option D. is correct.
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The difference between the cost to make a good and the price is the: A. Elasticity Curve B. Profit C. Supply Curve D. Demand Margin
Answer:
B. Profit
Explanation:
I hope this helps :)
Which are functions of money? Select the three correct answers.
A store of value
B. producer of resources
C. unit of account
D. medium of exchange
DE record of finances
F. unit of output
Answer:
A store of value
C. unit of account
D. medium of exchange
Explanation:
Money has four main functions. They are
The medium of exchange: It the most widely used and accepted instrument for the exchange of goods and servicesUnit of account: Money provides a standard measure of the value of goods and services being exchanged. Store of value: Money is known to keep its value for some period. this enables other commodities, both perishable and non-perishables, to be assigned monetary values Standard of future payments: This function allows for trade to be done on credit terms.According to the digital disconnect and the lecture, the global digital divide is the result of _____.
According to Digital Disconnect, the global digital divide is the result of the hyper-commercialization of Internet development that only serves affluent populations/groups.
The Digital Disconnect refers to experts' examination of current theory, research, and practice in socio-digital inequality. The Digital Disconnect provides a thorough analysis of capitalism's exploitation of the Internet. As per the Digital Disconnect, it is the hypercommercialism of mainstream computing technologies that causes the global digital divide. The global digital divide refers to global discrepancies, particularly between developing countries, and developed in access to computing and information resources such as the Internet, as well as the opportunities that such access provides.
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A plan for a career starting in two years:
a) Will give you less opportunities than a career starting right away
b) Means that no plans or training are necessary, since the goal is two years away
c) Cannot benefit from talking to a counselor or consulting a book
d) Will give you more opportunities than a career starting right away
It’s on knowledge matters for my business class !
Answer:a) Will give you less opportunities than a career starting right away
wrong
Explanation:
A plan for a career starting in two years d) Will give you more opportunities than a career starting right away.
How can this career give more opportunities ?Choosing a plan for a career starting in two years can potentially provide more opportunities compared to starting a career right away. Taking the time to plan for a career starting in two years allows for more preparation, skill development, and networking opportunities, which can ultimately lead to a wider range of career options.
You will have more time to research your options and find the right career for you. You will have more time to gain the necessary skills and experience. You will have more time to network with people in your field and build relationships.
In conclusion, option D is correct.
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why indigenous technologies are better than modern technology
Answer:
Indigenous technologies are better than modern technology because of the following reasons ;
1) It creates new employment opportunities .
2) It is much cheaper than imported technology.
3) It helps in the technological progress of developing countries which brings economic growth in nation .
4) It leads to greater encouragement for focused research.
5) It is affordable , sustainable band environment friendly.
What does the prefix re mean in the word reunited?
a.
both
c.
always
b.
again
d.
none of the above
Answer:
b. Again
Explanation:
Answer:
b.
again
Explanation:
Both reunion and reunite come from the Latin root unus, or "one," and the "again" prefix re-, so reunite means "make as one again."
Use the Internet to find an article that deals with the financial records of a business. Once you have found and read your article, record your summary and the link location using the following format in the box below. Be sure to include the URL links you used as resources in the space below. Submit your work below.
Paragraph #1 - Summary of article and link
Paragraph #2 - How it relates to entrepreneurship
Paragraph #3 - Your opinion of how the business will do in the next few months based on its financial records.
After using the Internet to search an article that deals with the financial records of a business is mentioned below:
Business Financial Record:The economic facts of a enterprise is a illustration of wherein the cash the enterprise earns comes from and wherein the cash is being directed in addition to the modern-day popularity of the cash earned, (source, U.S. Securities and Exchange Commission website) Financial facts includes; General accounting books, Banking facts, debtor's facts, creditor's facts, charges facts, tax facts, provide details, agreement facts, listing of assets, worker payments, cashbook facts, and inventory facts (Source Australian Charities and Not-for earnings fee website).
How it pertains to entrepreneurship?An entrepreneur, venturing right into a enterprise, wherein capital investments are and sources are put, sales is collected, shares are sold, and elements of manufacturing including device are purchased, can great keep the economic fitness of the via way of means of maintaining an correct and updated economic record, such that the coins flows are correctly control to achieve the proper fees and hobby fees from providers and creditors respectively .(Gateway to Commercial Finance website)
Your opinion of ways the enterprise will do withinside the following couple of months primarily based totally on its economic facts
A enterprise that always makes earnings and incurs a hard and fast charges is anticipated to grow, whilst a enterprise that has restrained sales is anticipated to embark on novel approaches.
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An auto dealership is advertising that a new car with a sticker price of $34,128 is on sale for $25,995 if payment is made in full, or it can be financed at 0% interest for 72 months with a monthly payment of $474. Note that 72 payments × $474 per payment = $34,128, which is the sticker price of the car. By allowing you to pay for the car in a series of payments (starting one month from now) rather than $25,995 now, the dealer is effectively loaning you $25,995. If you choose the 0% financing option, what is the effective interest rate that the auto dealership is earning on your loan? (Hint: Discount the payments back to current dollars, and use Goal Seek to find the discount rate that makes the net present value of the payments = $25,995.)
Answer:
effective annual rate = 9.77%
monthly rate = 0.78%
Explanation:
we can solve this by using a financial calculator or an excel spreadsheet:
our initial outlay = -25,995
then we have 72 cash flows = 474
I prefer to use excel, since all you need to do is use the IRR formula to determine the interest rate at which the NPV = 0. The interest rate at which NPV = 0 is the effective monthly interest rate. IRR = 0.78% monthly
In order to determine the effective annual rate:
EAR = (1 + 0.0078)¹² - 1 = 1.0977 - 1 = 0.0977 = 9.77%
What is the best advice to keep in mind as you grow your business?
Answer:
Be smart and watch out for snakes
Presented below is information related to Wildhorse Company. Oct. 1 Diane Lexington begins business as a real estate agent with a cash investment of $15,700 in exchange for common stock. 2 Hires an administrative assistant. 3 Purchases office furniture for $2,450, on the account. 6 Sells a house and lot for N. Fennig; bills N. Fennig $3,650 for realty services performed. 27 Pays $600 on the balance related to the transaction of October 3. 30 Pays the administrative assistant $2,350 in salary for October. Prepare the debit-credit analysis for each transaction.
Here's the debit-credit analysis for each transaction:
1. Oct. 1: Diane Lexington begins business as a real estate agent with a cash investment of $15,700 in exchange for common stock.
- Debit: Cash ($15,700)
- Credit: Common Stock ($15,700)
2. Oct. 2: Hires an administrative assistant.
- Debit: Administrative Expense (to be determined based on the salary)
- Credit: Cash (to be determined based on the salary)
3. Oct. 3: Purchases office furniture for $2,450, on account.
- Debit: Office Furniture ($2,450)
- Credit: Accounts Payable ($2,450)
6. Oct. 6: Sells a house and lot for N. Fennig; bills N. Fennig $3,650 for realty services performed.
- Debit: Accounts Receivable ($3,650)
- Credit: Sales Revenue ($3,650)
27. Oct. 27: Pays $600 on the balance related to the transaction of October 3.
- Debit: Accounts Payable ($600)
- Credit: Cash ($600)
30. Oct. 30: Pays the administrative assistant $2,350 in salary for October.
- Debit: Administrative Expense ($2,350)
- Credit: Cash ($2,350)
Please note that the transaction on October 2 requires more information to determine the specific debit and credit amounts. The transaction on October 6 assumes that the services were performed and billed immediately.
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third national bank has reserves of $10,000 and checkable deposits of $100,000. the reserve ratio is 10 percent. households deposit $20,000 in currency into the bank, and the bank adds that currency to its reserves. what amount of excess reserves does the bank now have?
Dr. Peabody recorded $6,820 in services provided to clients who make monthly payments. Which of the following statements is correct?
A. The dental revenues account is debited $6,820; accounts receivable is credited $6,820.
B. Accounts receivable is credited $6,820; the dental revenues account is credited $6,820.
C. Accounts receivable is debited $6,820; the dental revenues account is debited $6,820.
D. Accounts receivable is debited $6,820; the dental revenues account is credited $6,820.
Answer:
D. Accounts receivable is debited $6,820; the dental revenues account is credited $6,820.
Explanation:
The two accounts that are affected here are accounts receivables ( Assets) and the revenue account ( affects capital). The accounts receivable will increase as payment is expected at the end month. Since receivable are assets, an increase in receives is recorded as a debit of the account receivable account. $ 6,820 will be debited on the accounts receivables.
The services rendered increases the revenue to Dr. Peabody. Revenue is considered a capital account because it increases the owner's equity. An increase in a capital account is credited. Dr. Peabody will credit the dental revenue account with $6,820.
Suppose that the central bank increases interest rates in an economy. How would this affect aggregate demand and inflation
Answer:
aggregate demand would fall and inflation would fall
Explanation:
What company was the first to use the term ""smartphone""? in what year?.
Answer:
The term "smartphone" was first used by Ericsson in 1997 to describe a new device concept, the GS88
Question in picture
Let's say Owen would like to take another loan to pay for new furniture, and the loan payment would be $325 per month. If he took this new loan, would he have excessive debt? Remember, he makes $2,500 per month and he already spends $250 on credit card payments and $400 on an auto loan.
Explanation:
325 I think buy I am not sure.
Since there is no stock, LLC ownership is _______ which means LLC members need the approval of the other members in order to sell their interests in the company.
Since there is no stock, LLC ownership is non-transferable, which means LLC members need the approval of the other members in order to sell their interests in the company.
A stock, also known as a share or equity, represents a unit of ownership in a company. When a company goes public and offers stocks for sale to the public, it is essentially selling partial ownership of the company to investors. By purchasing a stock, an investor becomes a shareholder in the company and is entitled to a portion of its profits, as well as certain rights to vote on major decisions affecting the company.
Stocks are traded on stock exchanges, such as the New York Stock Exchange (NYSE) or the NASDAQ, and their prices are determined by the supply and demand in the market. If a company is performing well and there is high demand for its stock, the price will typically increase, whereas if the company is struggling or there is low demand for its stock, the price will typically decrease.
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What is secondary consumer definition ?
Secondary consumer is a person or group that does not directly consume a product or service, but influences the purchasing decisions of the primary consumer.
For example, a parent may be a primary consumer of a toy for their child, but the child's preferences and opinions may be influential in the purchasing decision. In this case, the child would be considered a secondary consumer.
Similarly, in business-to-business (B2B) marketing, a company's employees, partners, or suppliers may be considered secondary consumers if they influence the purchasing decisions of the primary consumer, which is typically the company itself.
Identifying and understanding the needs and preferences of secondary consumers can be an important aspect of marketing and business strategy, as their influence can play a significant role in the success or failure of a product or service.
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whos down to run away with me?
by comparing the opportunity cost of producing shoes in the two countries, you can tell that _____ ireland has a comparative advantage in the production of shoes andwales has a comparative advantage in the production of sunflowers.
By comparing the opportunity cost of producing shoes in the two countries, you can tell that Ireland has a comparative advantage in the production of shoes, while Wales has a comparative advantage in the production of sunflowers.
By comparing the opportunity cost of producing shoes in the two countries, you can tell that Ireland has a comparative advantage in the production of shoes and Wales has a comparative advantage in the production of sunflowers. This means that Ireland can produce shoes at a lower opportunity cost than Wales, and Wales can produce sunflowers at a lower opportunity cost than Ireland. Therefore, it would be more efficient for Ireland to focus on producing shoes and for Wales to focus on producing sunflowers, and they can trade with each other to benefit from their respective comparative advantages.
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The Love of Money is the root of all evil but if i give you money you will take it why???
Answer:
cause we need money for basic needs
such as cloths,shelter,education,medical needs e t c.
Answer:
yeah
Explanation:
yes because without money you wont be in this school and without money your teachers wont become the teachers they are now
dratif corporation's working capital is $45,000 and its current liabilities are $128,000. the corporation's current ratio is closest to: multiple choice 1.35 0.35 2.35 0.74
The ratio between a company's current obligations and its current assets is known as the current ratio. You divide current assets by current liabilities to arrive at the current ratio. So, the closest option is 1.35 for the current ratio. So, the answer is A) 1.35.
To Find the current ratio, we need to divide the current assets by the current liabilities. The current assets are not given, but we can use the working capital and the current liabilities to calculate them. The current assets can be calculated as follows:
Current assets = Working capital + Current liabilities
= $45,000 + $128,000
= $173,000
Now we can calculate the current ratio as:
Current ratio = Current assets / Current liabilities
= $173,000 / $128,000
= 1.35
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3. ______ are defined as goods or services that are required for health and safety.
Occupational Health and Safety are defined as goods or services that are required for health and safety. Information standards are guidelines governing the information that must be provided to consumers when they purchase specific goods.
What is the safety of goods?A safe product is one that delivers either no risk or a minimum tolerable level of risk, taking into account the product's typical or reasonably foreseeable use and the need to maintain a high level of consumer protection.
Occupational health and safety is a multidisciplinary discipline that deals with all elements of workplace health and safety, with a heavy emphasis on preventing workplace dangers.
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Which step should Gemima fix to complete the task correctly?
Step 3
Step 4
Step 5
Step 6
she needs to fix step 4
Answer:
B). step 4
Explanation:
correct on edge
in which Step of production process are materials manipulated
Answer:
tread count
Explanation:
different sizes