Easterwood Motors reported a net deferred tax liability of $45,000 and pretax financial statement income of $1,500,000 in its December 31, 2017, financial statements. Taxable income was $1,000,000 for 2018. At December 31, 2018, Easterwood had cumulative deductible differences of $350,000. Easterwood’s effective income tax rate is 40%. What should Easterwood report as the deferred portion of income tax expense on its December 31, 2018, income statement?
Answers: 2
Business, 22.06.2019 20:30
Casey communications recently issued new common stock and used the proceeds to pay off some of its short-term notes payable. this action had no effect on the company's total assets or operating income. which of the following effects would occur as a result of this action? a. the company's current ratio increased.b. the company's times interest earned ratio decreased.c. the company's basic earning power ratio increased.d. the company's equity multiplier increased.e. the company's debt ratio increased.
Answers: 3
Business, 22.06.2019 21:00
At present, the united states has an embargo against north korea because a. the two countries have extremely poor political relations. b. north korea will not adopt a capitalist government. c. north korean products are too difficult to use. d. north korea has an embargo on american products. e. products from north korea are in higher demand than american-made products.
Answers: 2
Easterwood Motors reported a net deferred tax liability of $45,000 and pretax financial statement in...
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