At the beginning of 2021; Elephant, Inc. had a deferred tax asset of $20,000 and a deferred tax liability of $30,000. Pre-tax accounting income for 2021 was $1,500,000 and the enacted tax rate is 20%. The following items are included in Elephant's pre-tax income:
Interest income from municipal bonds $132000
Accrued warranty costs, estimated to be paid in 2022 $272000
Operating loss carryforward $202000
Installment sales profit, will be taxed in 2022 $142000
Prepaid rent expense, will be used in 2022 $66000
What is Cullumber, Inc.’s taxable income for 2021?
a. 1350000
b. 2434000
c. 1620000
d. 1890000
Answers: 2
Business, 21.06.2019 14:50
The maximum amount of money that a consumer can charge on a credit card is called the
Answers: 2
Business, 22.06.2019 01:50
Which value describes the desire to be one’s own boss? a. autonomy b. status c. security d. entrepreneurship
Answers: 2
Business, 22.06.2019 03:30
Joe finally found a house for sale that he liked. which factor could increase the price of the house he likes? a. both he and the seller each have a real estate agent. b. a home inspector finds faulty wiring in the house. c. the house has been for sale for almost a year. d. several buyers all want that same house.
Answers: 2
Business, 22.06.2019 13:30
After successfully completing your corporate finance class, you feel the next challenge ahead is to serve on the board of directors of schenkel enterprises. unfortunately, you will be the only person voting for you. the company has 375,000 shares outstanding, and the stock currently sells for $40, if there are four seats in the current election, how much will it cost you to buy a seat?
Answers: 2
At the beginning of 2021; Elephant, Inc. had a deferred tax asset of $20,000 and a deferred tax liab...
Chemistry, 17.09.2019 02:30
Computers and Technology, 17.09.2019 02:30
Social Studies, 17.09.2019 02:30