Business, 27.02.2020 02:23 katlynnschmolke

It is mid-January and Company B is closing their year ending December 31, 2013 and they need to make their tax entry. The Income Before Taxes for the year is $100,000. Company B has also prepared a preliminary tax return for the year but the Taxable Income was $110,000 due to a temporary timing difference that caused the revenue on the tax return to be greater than the revenue on the financial reports. The tax rate is 20%. There have been no entries related to income taxes made for the year up to this point. Taxes are not required to be paid until April 15, 2014. What is the entry required as of December 31, 2013 to record taxes?

Answers: 2

Show answers

Another question on Business

Business, 21.06.2019 22:50

He taylor company sells music systems. each music system costs the company $100 and will be sold to the public for $250. in year one, the company sells 100 gift cards to customers for $250 each ($25,000 in total). these cards are valid for just one year, and company officials expect them to all be redeemed. in year two, only 96 of the cards are returned. what amount of net income does the company report for year two in connection with these cards? a. $15,000b. $15,400c. $15,500d. $15,800

Answers: 1

Answer

Business, 22.06.2019 12:10

Drag each label to the correct location on the image determine which actions by a manager are critical interactions - listening to complaints - interacting with customers - responding to complaints - assigning staff duties -taking action to address customer grievances -keeping track of reservations

Answers: 2

Answer

Business, 22.06.2019 20:20

This activity is important because as a marketing manager, you must allocate resources to reach your target market. during the strategic marketing process, managers move through three important phases to determine how to optimally allocate resources: a planning phase, an implementation phase, and an evaluation phase. in this interactive exercise, you are asked to review various strategic marketing actions and determine where in the strategic marketing process the action would occur. the goal of this exercise is to demonstrate your understanding of the strategic marketing process and related marketing actions.

Answers: 2

Answer

Business, 22.06.2019 23:30

Match the different financial tasks to their corresponding financial life cycle phases wealth protection, wealth accumulation and wealth distribution

Answers: 3

Answer

You know the right answer?

It is mid-January and Company B is closing their year ending December 31, 2013 and they need to make...

Questions