Brief Exercise 19-09 Bridgeport Inc. had pretax financial income of $144,200 in 2020. Included in the computation of that amount is insurance expense of $3,800 which is not deductible for tax purposes. In addition, depreciation for tax purposes exceeds accounting depreciation by $9,300. Prepare Bridgeport’s journal entry to record 2020 taxes, assuming a tax rate of 25%. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) Account Titles and Explanation Debit Credit Click if you would like to Show Work for this question:
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Business, 22.06.2019 15:30
Careers in designing, planning, managing, building and maintaining the built environment can be found in the following career cluster: a. agriculture, food & natural resources b. architecture & construction c. arts, audio-video technology & communications d. business, management & administration
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Business, 22.06.2019 20:40
Which of the following would indicate an improvement in a company's financial position, holding other things constant? a. the inventory and total assets turnover ratios both decline.b. the debt ratio increases.c. the profit margin declines.d. the times-interest-earned ratio declines.e. the current and quick ratios both increase.
Answers: 3
Business, 22.06.2019 23:30
Miller company’s most recent contribution format income statement is shown below: total per unit sales (20,000 units) $300,000 $15.00 variable expenses 180,000 9.00 contribution margin 120,000 $6.00 fixed expenses 70,000 net operating income $ 50,000 required: prepare a new contribution format income statement under each of the following conditions (consider each case independently): (do not round intermediate calculations. round your "per unit" answers to 2 decimal places.) 1. the number of units sold increases by 15%.
Answers: 1
Business, 22.06.2019 23:40
When randy, a general manager of a national retailer, moved to a different store in his company that was having difficulty, he knew that sales were low and after talking to his employees, he found morale was also low. at first randy thought attitudes were poor due to low sales, but after working closely with employees, he realized that the poor attitudes were actually the cause of poor sales. randy was able to discover the cause of the problem by utilizing skills.
Answers: 2
Brief Exercise 19-09 Bridgeport Inc. had pretax financial income of $144,200 in 2020. Included in th...
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