Business, 29.10.2021 14:00 whitethunder05
At December 31, DePaul Corporation had the following cumulative temporary differences associated with its operations:
a. Estimated warranty expense, $24 million temporary difference: expense recorded in the year of the sale; tax-deductible when paid (one-year warranty).
b. Depreciation expense, $104 million temporary difference: straight-line in the income statement; MACRS on the tax return. Income from installment sales of properties, $80 million temporary difference: income recorded in the year of the sale; taxable when received equally over the next five years.
c. Rent revenue collected in advance, $24 million temporary difference; taxable in the year collected; recorded as income when the performance obligation is satisfied in the following year.
Required:
Assuming DePaul will show a single noncurrent net amount in its December 31 balance sheet, indicate that amount and whether it is a net deferred tax asset or liability. The tax rate is 25%.
Answers: 3
Business, 22.06.2019 06:20
About time delivery co. incurred the following costs related to trucks and vans used in operating its delivery service: classify each of the costs as a capital expenditure or a revenue expenditure. 1. changed the oil and greased the joints of all the trucks and vans. 2. changed the radiator fluid on a truck that had been in service for the past four years. 3. installed a hydraulic lift to a van. 4. installed security systems on four of the newer trucks. 5. overhaul the engine on one of the trucks purchased three years ago. 6. rebuilt the transmission on one of the vans that had been driven 40,000 miles. the van was no longer under warranty. 7. removed a two-way radio from one of the trucks and installed a new radio with a greater range of communication. 8. repaired a flat tire on one of the vans. 9. replaced a truck's suspension system with a new suspension system that allows for the delivery of heavier loads. 10. tinted the back and side windows of one of the vans to discourage theft of contents.
Answers: 1
Business, 22.06.2019 19:10
According to the textbook chapter, βthe emotional connection of distinguishing differences and conflictβ, which of the following groups of terms describes best the skills/resources that managers need when managing differences in their organization? energy, commitment, tolerance, and appreciation energy, adequate funding, tolerance, and appreciation funding, tolerance, a strong hr department, and tolerance energy, a strong hr department, patience, and strong leadership skills
Answers: 3
Business, 23.06.2019 01:40
6. why the aggregate supply curve slopes upward in the short run in the short run, the quantity of output that firms supply can deviate from the natural level of output if the actual price level in the economy deviates from the expected price level. several theories explain how this might happen. for example, the misperceptions theory asserts that changes in the price level can temporarily mislead firms about what is happening to their output prices. consider a soybean farmer who expects a price level of 100 in the coming year. if the actual price level turns out to be 90, soybean prices will , and if the farmer mistakenly assumes that the price of soybeans declined relative to other prices of goods and services, she will respond by the quantity of soybeans supplied. if other producers in this economy mistake changes in the price level for changes in their relative prices, the unexpected decrease in the price level causes the quantity of output supplied to the natural level of output in the short run.
Answers: 3
At December 31, DePaul Corporation had the following cumulative temporary differences associated wit...
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