subject
Business, 24.06.2019 20:30 hannahkharel2

Pronghorn co. has one temporary difference at the beginning of 2017 of $469,000. the deferred tax liability established for this amount is $140,700, based on a tax rate of 30%. the temporary difference will provide the following taxable amounts: $91,000 in 2018, $197,000 in 2019, and $181,000 in 2020. if a new tax rate for 2020 of 20% is enacted into law at the end of 2017, what is the journal entry necessary in 2017 (if any) to adjust deferred taxes?

ansver
Answers: 3

Another question on Business

question
Business, 21.06.2019 20:30
What does the phrase limited liability mean in a corporate context?
Answers: 2
question
Business, 22.06.2019 08:10
Bakery has bought 250 pounds of muffin dough. they want to make waffles or muffins in half-dozen packs out of it. half a dozen of muffins requires 1 lb of dough and a pack of waffles uses 3/4 lb of dough. it take bakers 6 minutes to make a half-dozen of waffles and 3 minutes to make a half-dozen of muffins. their profit will be $1.50 on each pack of waffles and $2.00 on each pack of muffins. how many of each should they make to maximize profit, if they have just 20 hours to do everything?
Answers: 3
question
Business, 22.06.2019 11:30
On average, someone with a bachelor's degree is estimated to earn times more than someone with a high school diploma. a)1.2 b)1.4 c)1.6 d)1.8
Answers: 1
question
Business, 22.06.2019 11:50
Christopher kim, cfa, is a banker with batts brothers, an investment banking firm. kim follows the energy industry and has frequent contact with industry executives. kim is contacted by the ceo of a large oil and gas corporation who wants batts brothers to underwrite a secondary offering of the company's stock. the ceo offers kim the opportunity to fly on his private jet to his ranch in texas for an exotic game hunting expedition if kim's firm can complete the underwriting within 90 days. according to cfa institute standards of conduct, kim: a) may accept the offer as long as he discloses the offer to batts brothers.b) may not accept the offer because it is considered lavish entertainment.c) must obtain written consent from batts brothers before accepting the offer.
Answers: 1
You know the right answer?
Pronghorn co. has one temporary difference at the beginning of 2017 of $469,000. the deferred tax li...
Questions
question
Mathematics, 10.01.2020 05:31