Business, 31.10.2019 06:31 genesisdiaz1352

Headland corp. has a deferred tax asset account with a balance of $161,600 at the end of 2016 due to a single cumulative temporary difference of $404,000. at the end of 2017, this same temporary difference has increased to a cumulative amount of $430,000. taxable income for 2017 is $801,000. the tax rate is 40% for all years. no valuation account related to the deferred tax asset is in existence at the end of 2016. (a) record income tax expense, deferred income taxes, and income taxes payable for 2017, assuming that it is more likely than not that the deferred tax asset will be realized.

Answers: 2

Show answers

Another question on Business

Business, 22.06.2019 18:30

> > objectives define federalism and explain why the framers adopted a federal system instead of a unitary system. categorize powers delegated to and denied to the national government, and powers reserved for and denied to the states, and the difference between exclusive and concurrent powers.

Answers: 1

Answer

Business, 22.06.2019 19:10

Calculating and interpreting eps information wells fargo reports the following information in its 2015 form 10-k. in millions 2015 2014 wells fargo net income $24,005 $24,168 preferred stock dividends $1,535 $1,347 common stock dividends $7,400 $6,908 average common shares outstanding 5,136.5 5,237.2 diluted average common shares outstanding 5,209.8 5,324.4 determine wells fargo's basic eps for fiscal 2015 and for fiscal 2014. round answers to two decimal places.

Answers: 3

Answer

Business, 22.06.2019 21:00

Frost corporation incurred the following transactions during its first year of operations. (assume all transactions involve cash.) 1) acquired $1,900 of capital from the owners. 2) purchased $435 of direct raw materials. 3) used $290 of these direct raw materials in the production process. 4) paid production workers $490 cash. 5) paid $290 for manufacturing overhead (applied and actual overhead are the same). 6) started and completed 250 units of inventory. 7) sold 140 units at a price of $6 each. 8) paid $130 for selling and administrative expenses. the amount of raw material inventory on the balance sheet at the end of the accounting period would be:

Answers: 3

Answer

Business, 23.06.2019 02:40

Telecom co. enters into a two-year contract with a customer to provide wireless service (voice and data) for $40 per month. to induce customers, telecom co. provides a free phone. telecom co. normally sells the phone on a stand-alone basis for $200. telecom co. also charges the customer a one-time activation fee of $35.which of the following is true? a) there are two distinct performance obligations: the voice service and the data service b) the free phone constitutes as a marketing expense c) the activation fee is a separate performance obligationd) there are two distinct performance obligations: the wireless services and the phone

Answers: 2

Answer

You know the right answer?

Headland corp. has a deferred tax asset account with a balance of $161,600 at the end of 2016 due to...

Questions