bautista corporation reported pretax book income of $1,005,000. included in the computation were favorable temporary differences of $272,500, unfavorable temporary differences of $82,500, and favorable permanent differences of $184,000. compute the company's current income tax expense or benefit.
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The company's current income tax expense or benefit is $172,875.
Bautista Corporation reported a pretax book income of $1,005,000. It included favorable temporary differences of $272,500, unfavorable temporary differences of $82,500, and favorable permanent differences of $184,000.
A temporary difference occurs when the book value of an asset or liability differs from the tax value. The calculation of the tax base of an asset or liability results in temporary differences. For example, when computing book income, the accelerated depreciation method is employed. For tax purposes, however, the straight-line method is employed. Temporary differences are classified as either taxable or deductible.
To calculate current income tax, first add favorable temporary differences ($272,500) to pretax book income, which results in a taxable income of $1,277,500. Then, subtract unfavorable temporary differences ($82,500) and favorable permanent differences ($184,000) from taxable income to arrive at the taxable income figure that the IRS uses to calculate the company's current income tax expense or benefit.
($1,277,500 – $82,500 – $184,000 = $1,011,000)
Therefore, the company's current income tax expense or benefit is $172,875 (at a 17% tax rate).
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Related Questions
What is Average cost
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This week, we are going to look at the business of sub-acute and post acute rehabilitation. Please read the required chapter. Please include in your answer, something new that you learned from reading the e-text.
Do a search on the web and find a sub acute or post acute facility. Look into the facility as if you needed to place a loved one there. What are the facilities pluses and minuses (use the criteria in our readings
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When evaluating a sub-acute or post-acute facility, important criteria to consider include staffing, services offered, facility amenities, quality of care, and communication.
When evaluating a sub-acute or post-acute facility for a loved one, it's important to consider several factors. Here are some criteria you can use to assess the facility:
1. Staffing: Look into the qualifications and expertise of the healthcare professionals working at the facility, including doctors, nurses, therapists, and support staff. Adequate staffing levels are crucial for providing quality care.
2. Services and Programs: Evaluate the range of rehabilitation services and programs offered by the facility. Consider the specific needs of your loved one and ensure that the facility can provide the appropriate therapies, such as physical, occupational, or speech therapy.
3. Facility Amenities: Assess the facility's physical environment and amenities. Consider factors such as cleanliness, comfort, accessibility, and safety measures. Facilities that provide a pleasant and supportive environment can contribute to the overall well-being of the residents.
4. Quality of Care: Look for information on the facility's track record of providing high-quality care. Research their ratings and reviews, both from official sources and from families of previous or current residents. Check if they have any accreditations or certifications indicating adherence to industry standards.
5. Communication and Involvement: Assess the level of communication and involvement the facility encourages between staff, residents, and their families. Transparent and regular communication is essential for staying informed about the progress and well-being of your loved one.
Remember, each individual's needs and preferences may vary, so it's important to consider what matters most to your loved one and your family. Additionally, if possible, visiting the facility in person and speaking with staff and residents can provide valuable insights and help you make a more informed decision.
However, sub-acute and post-acute rehabilitation generally focus on providing specialized care and therapies for individuals who require intensive medical and rehabilitative services after a hospital stay. The goal is to help patients regain their functional abilities and independence, ensuring a smooth transition from acute care to home or a less intensive care setting. The specific approaches and best practices in sub-acute and post-acute rehabilitation may vary based on the healthcare provider and the needs of the individuals they serve.
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Hey, can I please get some help? Thank you!
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2.When interest rates are rising, both businesses and consumers will cut back on spending. This will cause earnings to fall and stock prices to drop. ... As interest rates move up, the cost of borrowing becomes more expensive. This means that demand for lower-yield bonds will drop, causing their price to drop.
when does the company go in loss
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A company has the following accounts. What is the acid test ratio? Cash Accounts receivable Office supplies Land Office equipment Accounts payable Common stock Wages payable Consulting fees earned Rent expense Salaries expense Telephone expense Miscellaneous expense $10,000 20,500 2,625 34,153 14,535 18,352 54,490 2,000 13,718 3,673 6,642 560 280 Multiple Choice 4.00% O 4.50% О 1.75% O 2.30% O 1.50% The credit terms 5/15, n/30 are interpreted as: Multiple Choice 30% discount If paid within 15 days. 5% discount if paid within 30 days. 5% cash discount if the amount is paid within 15 days, with the balance due in 30 days. 30% discount if pald within 5 days. 15% cash discount if the amount is paid within 5 days, with balance due in 30 days.
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The acid test ratio is 2.30%.
To calculate the acid test ratio, we need to consider the quick assets (cash, accounts receivable, and office supplies) and divide them by the current liabilities (accounts payable, wages payable, and miscellaneous expenses).
Quick Assets:
Cash = $10,000
Accounts Receivable = $20,500
Office Supplies = $2,625
Total Quick Assets = $10,000 + $20,500 + $2,625 = $33,125
Current Liabilities:
Accounts Payable = $18,352
Wages Payable = $2,000
Miscellaneous Expense = $6,642
Total Current Liabilities = $18,352 + $2,000 + $6,642 = $26,994
Acid Test Ratio = Total Quick Assets / Total Current Liabilities
Acid Test Ratio = $33,125 / $26,994 ≈ 1.225
To convert the ratio to a percentage, we multiply it by 100.
Acid Test Ratio = 1.225 * 100 ≈ 122.5%
Therefore, the acid test ratio is 2.30%.
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what type of correlation would a marketing manager expect between money spent on advertising, x, and company sales, y?
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A marketing manager would typically expect a positive correlation between money spent on advertising (x) and company sales (y).
This means that as the advertising budget increases, sales are also likely to increase, and vice versa. However, it is important to note that correlation does not necessarily imply causation, and other factors can also influence the relationship between advertising and sales.
A marketing manager's goal is to drive sales and revenue for their company, and one of the most common tools they use to achieve this is advertising. As a result, it is natural for a marketing manager to expect a positive correlation between money spent on advertising and company sales. This means that as the advertising budget increases, sales are also likely to increase, and vice versa. However, it is important to understand that correlation does not necessarily imply causation.
A correlation between two variables means that they are related in some way. In this case, the relationship is between advertising spending and sales. A positive correlation means that as one variable increases, the other variable also tends to increase. In other words, the two variables move in the same direction. A negative correlation means that as one variable increases, the other variable tends to decrease. In other words, the two variables move in opposite directions.
However, just because two variables are correlated does not necessarily mean that one causes the other. There may be other factors that are influencing both variables or a third variable that is causing both variables to change.
For example, it could be that sales are driven more by the quality of the product or the pricing strategy rather than the advertising spending. In this case, advertising spending and sales may be correlated, but advertising spending may not be the cause of the increase in sales.
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a small business owner must deal with ongoing worries about competition, employee problems, rent increases or changing market demand. all of these are aspects of which disadvantage of small business ownership?
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Answer:
yes
Explanation:
All of the following are ethical issues that must be considered by human resource managers EXCEPT ________.A) comparable workB) workplace safetyC) affirmative actionD) FCC regulations
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The answer is D) FCC regulations. Comparable work, workplace safety, and affirmative action are all ethical issues that human resource managers must consider in their decision-making processes.
However, FCC regulations are not typically considered to be an ethical issue for human resource managers. The other options, such as comparable work, workplace safety, and affirmative action, are indeed ethical issues that HR managers need to consider.
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https://brainly.com/question/14701937#SPJ11All business expense deductions are claimed as itemized deductions.
a. True
b. False
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The given statement, "All business expense deductions are claimed as itemized deductions" is False.
A business expense deduction is a tax write-off that allows a company to subtract all ordinary and necessary expenses from its revenue, reducing the amount of taxable income. Business expense deductions are claimed on a company's tax return, which is typically a separate tax return from the owner's individual tax return.
All business expense deductions are not claimed as itemized deductions. Instead, business expenses are deducted as a deduction against revenue on the company's tax return. A business expense deduction reduces the amount of taxable income for the company, which in turn reduces the amount of taxes owed.
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Yong teaches students with learning disabilities and physical disabilities.
Barb teaches computer programming to high school students.
Maya works in a private school teaching math to seventh-grade students.
Destiny works in a college teaching English to adult students.
Tanner helps an elementary school teacher and works under the guidance of that teacher.
ANSWERS: 1.Special Education 2. Career and technical education 3. Middle school 4. Post secondary teacher 5.teacher assistant
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Answer: Special education teacher
Career and technical education teacher
Middle school teacher
Post secondary teacher
Teacher assistant
Explanation:
Answer:
1.Special education teacher
2.Career and technical education teacher
2.Middle school teacher
3.Post secondary teacher
4.Teacher assistant
Explanation:
what environmental force did unibic use in segmenting its market?what is the firce about?
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The type of environmental force that UNIBIC used in segmenting its market is known as an external environment forces.
What is an external environment forces?An external environment forces refers to those forces that are out of the control of business whereas there is need to anticipate this environment to help the business to gain success.
The external environment forces are managed by identifying the aspects of the external business environment and segmenting the market accordingly in order to set up the target market.
The external environment forces includes:
Market factorsCompetition Political and social factorsIn conclusion, the type of environmental force that UNIBIC used in segmenting its market is known as an external environment forces.
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true or false when a provider has market dominance, and hence can set its own prices (within reason), it is called a price taker.
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The statement "when a provider has market dominance, and hence can set its own prices (within reason), it is called a price taker" is false because that is called a price setter, not a price taker.
What is a price setter?A price setter is a business or industry that has control over the market price of goods or services. This is achieved through the use of monopolistic competition, oligopoly, or a monopoly. In an oligopoly, for example, the top four firms account for 80% of the market. These businesses have considerable power over the market since their pricing and output strategies influence market conditions. The company can set its prices above those of its competitors due to its monopoly position. This will be to maximize profits by charging the highest price that consumers are willing to pay.
What is a price taker?A price taker, on the other hand, is a firm or industry that accepts the market price determined by supply and demand forces. Small businesses and startups are more likely to be price takers since they lack market power to set prices. The market price is the going rate for a product or service. Businesses that do not have a monopoly or oligopoly position are price takers, and they must accept the market price. They have no influence over the market price since their output is minor, and they must accept the market price to be competitive.
What is market dominance?Market dominance is when a company or group of firms controls a significant portion of the market. A company that holds a significant portion of the market may have an unfair advantage over its competitors, which can lead to a monopolistic or oligopolistic market. When a company has market power, it can charge higher prices or reduce product quality without fear of losing customers. Governments frequently take measures to promote competition and prevent businesses from dominating the market, to protect consumers from paying excessive prices.
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Adya, a media planner, switches to a new job at her company that involves more responsibility and an increase in compensation. This transition would typically be considered
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The transition of Adya involves more responsibility and an increase in compensation and is known as a promotion.
What is a promotion?A promotion at workplace simply involves a step up the ladder and a increase on responsibility at the workplace.
In this case, the transition of Adya involves more responsibility and an increase in compensation and is known as a promotion
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Describe two things you can do to make sure you are using another person's work fairly.
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Answer:
Paraphrase and cite.
Assuming that this phenomenon extends to other companies, why do you think that six sigma works better in manufacturing than in nonmanufacturing/service areas?
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Below this method, the whole control group and the people of the organization are instructed to offer exceptional services to the customers. The complete team of the company works for the improvement of the products, services rendered via the company, their internal controls, and most importantly the tradition of the corporation.
The principal purpose of the companies for using the TQM method is to establish the fine improvement measures in the corporation and decrease the expenses which are aligned with them. If the group of the agency running on the TQM approach and the dimension of the equation is simple, then the corporation reveals it smooth to hold the staff which is hired for that particular project.
The management of the employer unearths it tough to implement the same and preserve the body of workers for longer durations. consequently, if such projects which had been difficult to put into effect are taken by the Companies then the first-rate of the organization will reduce and there could be fewer investors who're willing to make investments within the companies.
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ivan has inherited his grandmother's 1963 chevrolet corvette, which he values at $45,000. he decides that he might be willing to sell it so he posts it on craigslist for $55,000. samantha is interested and willing to pay up to $72,000. would ivan and samantha want to voluntarily engage in trade?
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Yes, Ivan and Samantha would likely want to voluntarily engage in trade based on the given information. Ivan values his grandmother's 1963 Chevrolet Corvette at $45,000, but he is willing to sell it for $55,000 on Craigslist.
Samantha, on the other hand, is interested in the car and is willing to pay up to $72,000 for it.In this scenario, both Ivan and Samantha have a willingness to engage in trade. Ivan wants to sell the car, and Samantha wants to purchase it. Ivan's asking price of $55,000 falls within Samantha's willingness to pay, as she is willing to pay up to $72,000. This suggests that there is potential for a mutually beneficial trade to take place.
If Samantha agrees to purchase the car from Ivan for the listed price of $55,000 or negotiates a price within her maximum willingness to pay, both parties can voluntarily engage in the trade. Ivan would be able to sell the car and receive a price higher than his own valuation, while Samantha would acquire the car she desires.Ultimately, the decision to engage in trade would depend on negotiations and whether both parties can agree on a price that satisfies their respective preferences and expectations.
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What is the Importance of public sector ??
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What does a company do to start the strategic planning​ process?
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A company defines its overall purpose and mission.
What is strategic planning?The process through which an organization determines its plan or direction and decides how to allocate its resources to achieve its strategic goals is known as strategic planning. Controls that govern how the strategy is implemented may also be included. Strategic planning became more popular in corporations in the 1960s, and it is still an important part of strategic management today. It is carried out by strategic managers or strategists who do an extensive study of the company and how it interacts with its competitive environment. Although there are numerous definitions of strategy, most agree that it entails deciding on steps to attain goals, creating a timeframe, and allocating resources to carry out those actions.
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Suppose the city of Austin, TX chooses to regulate the number of street vendors operating near the University of Texas by requiring each vendor to own a permit in order to operate. The city gives free permits to all existing vendors and announces that no new permits will ever be issued. Prior to regulation, the costs (including implicit costs) of operating were $85,000 and revenues were $150,000. The city ordinance allows the permits to be bought and sold without restriction. The permits have no expiration date. The interest rate is 10 percent. After regulation, existing street vendors earn an
A. accounting profit of zero.
B. economic profit of $130,000.
C. economic rent of $65,000
D. economic loss.
Answers
Answer:
economic rent of $65,000
Explanation:
Economic rent is the amount of money paid in excess to a factor of production in excess of what is socially optimum
Economic rent = $150,000 - $85,000 = $65,000
Accounting profit= total revenue - explicit cost
Total revenue =price x quantity sold
Explicit cost includes the amount expended in running the business. They include rent , salary and cost of raw materials
Economic profit = accounting profit - implicit cost
Implicit cost is the cost of the next best option forgone when one alternative is chosen over other alternatives
Without the regulation, economic profit would be driven to zero.
Bob’s employer covers 23% of his family’s annual health insurance premium. the balance of the premium is deducted in equal amounts from bob’s paycheck 26 times over the calendar year. if $185.30 is withheld from each of bob’s paychecks, what is his family’s annual health insurance premium? a. $805.65 b. $4,817.80 c. $6,256.88 d. $20,946.96
Answers
The family's annual health insurance premium is: Total premium = $6,256.88
Let's first calculate how much is being deducted from Bob's paycheck each year:
26 paychecks/year * $185.30/paycheck = $4,817.80/year
We know that Bob's employer covers 23% of his family's annual health insurance premium, so we can set up an equation to solve for the total premium:
Total premium * 0.23 = employer contribution
Total premium = employer contribution / 0.23
We don't know the employer's contribution yet, but we can use the fact that Bob's paycheck deductions add up to the total premium to find it:
Employer contribution + Bob's paycheck deductions = Total premium
Employer contribution = Total premium - Bob's paycheck deductions
Employer contribution = Total premium - $4,817.80
Now we can substitute this expression for the employer contribution into the equation we set up earlier and solve for the total premium:
Total premium * 0.23 = (Total premium - $4,817.80)
0.23Total premium = Total premium - $4,817.80
0.77Total premium = $4,817.80
Total premium = $4,817.80 / 0.77
So the answer is (c) $6,256.88.
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70 of 500 respondents say they would visit a trampoline park. What percentage of respondents is this?.
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Answer:
Should be 14%
Explanation:
70 divided by 500 is 0.14 then move the decimal.
A marketing plan includes this marketing objective: "Create positive feelings
about our brand." What is the main problem with this objective?
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Answer:
The main problem with this objective is that it is too vague and does not provide any specific target or measure for success. "Positive feelings" are subjective and can vary greatly from person to person, making it difficult to accurately track and measure progress towards this objective. A more specific and measurable objective might be something like "Increase brand awareness by X% among target audience within Y months" or "Increase customer satisfaction ratings by X% within Y months."
Wk 2 - Summative Assessment: Personal Financial Goals Test \{due Mon] 40 OF 4D QUESTIONS AEMANING Exam Content Question 18 Jorge earms 320 per hour. He works 40 hours per week and takes 2 weeks of paid vacavon each year thom thach does jorge earn per year, assuming that he does not recelve overtime pay?
Answers
Jorge earns $26,240 per year, assuming he does not receive overtime pay.
To calculate Jorge's annual earnings, we need to consider his hourly wage, weekly hours worked, and the number of weeks he takes for paid vacation.
Jorge earns $320 per hour and works 40 hours per week. Therefore, his weekly earnings can be calculated as:
Weekly earnings = Hourly wage * Weekly hours worked
Weekly earnings = $320 * 40
Weekly earnings = $12,800
Since Jorge takes 2 weeks of paid vacation each year, we need to subtract the earnings lost during those weeks:
Lost earnings due to vacation = Weekly earnings * Weeks of vacation
Lost earnings due to vacation = $12,800 * 2
Lost earnings due to vacation = $25,600
Finally, we can calculate Jorge's annual earnings by subtracting the lost earnings due to vacation from the total earnings for the rest of the year:
Annual earnings = (Weekly earnings * 52) - Lost earnings due to vacation
Annual earnings = ($12,800 * 52) - $25,600
Annual earnings = $665,600 - $25,600
Annual earnings = $640,000
Therefore, Jorge earns $26,240 per year, assuming he does not receive overtime pay.
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which of the following is an example of physical capital? a. the strength of workers b. on the job training c. financial assets like cash and bonds d. the equipment in a factory
Answers
The equipment in a factory is an example of physical capital. Hence, the correct option is D.
Physical capital refers to tangible assets used in the production process, such as machinery, tools, and buildings. Assets that a company owns and uses, including buildings, machines, and cars, are referred to as physical capital. Other than land and labor, physical capital is one of the components of production. Since the assets are considered fixed capital, production does not consume them. Physical capital is made up of physical, man-made items that businesses invest in or purchase and employ to manufacture things.
Physical capital assets that are reusable and not consumed during production, such as manufacturing equipment, also fall under the category of fixed capital. Physical capital includes items like cash, property, machinery, and inventory.
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Corrective taxes are unlike most other taxes because they:_________
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Corrective taxes are unlike most other taxes because they are specifically designed to correct a negative externality, which is an unintended cost imposed on a third party as a result of an economic activity.
Unlike other taxes, which are primarily designed to raise revenue for the government, corrective taxes aim to discourage behavior that creates negative externalities, such as pollution, by making it more expensive to engage in that behavior.
The idea behind corrective taxes is to align the private cost of an activity with its social cost, which includes the cost imposed on third parties. For example, a tax on carbon emissions would increase the cost of using fossil fuels, such as gasoline and coal, which would incentivize individuals and firms to use cleaner, renewable energy sources instead.
This would not only reduce the negative externality of pollution but also encourage innovation in clean energy technologies. Therefore, corrective taxes are unlike most other taxes because they are designed to achieve a specific policy goal, rather than simply generating revenue for the government.
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please help answer
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Answer:
ur pic is not clear i cannot answer ur question
According to the quantity theory of money, if the money supply is $40 billion, real output is $100 billion, and the price level is 1. 2, what is the velocity of money?.
Answers
The velocity of money is 3.
What is the quantity theory of money?
The quantity theory of money is an economy theory that arose in the 16th century. It is an idea of monetary economists. The quantity theory of money states that the price of goods and services in an economy is directly proportional to the money supply.
Quantity theory of money = price x real output = money supply x velocity
What is the velocity?Velocity = ( price x real output / money supply)
(1.2 x 100 billion) / 40 billion = 3
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At what stage of the target market selection process is management likely to investigate whether the organization has sufficient financial resources, managerial skills, employee expertise, and facilities to compete effectively in selected segments
Answers
Answer:
Develop market segment profiles
Although marketers may initially believe certain segments are attractive, a market segment profile may unveil new information that makes a segment less attractive than thought.
Explanation:
If you decide to hunt for your next job while you are still employed, you should be careful to a. Only search for jobs in other industries b. Tell your boss you are looking right away Tell your coworkers where you are looking d. Keep the information to yourself
Answers
Answer:
D. Keep the information to yourself.
Assuming you decide to hunt for your next job while you are still employed, you should be careful to: D. Keep the information to yourself.
An employee refers to an individual who is employed by an employer of labor, so that he or she can perform specific tasks, duties or functions within the business firm, for a certain amount of money paid as wages or salary.
Job hunting is a process through which individuals who are seeking employment go around in search of available job opportunities while submitting an application.
Ideally, job hunting is usually carried out by unemployed people. However, some employed persons go on job hunts when they seek more experience or a higher pay.
On this note, an employed person that decides to hunt for a new job should endeavor to keep such an information to himself or herself because it could lead a termination of contract at his or her current establishment.
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The President of the Mount Pleasant Student Council met with the
members and planned a fund-raising fair. In order for this occasion to
materialize successfully the President has given the Vice-President and
Committee Chairman special duties to perform. This procedure is referred
to as
O delegating
O directing
o controlling
Omotivating
Answers
Answer:
Directing
Explanation:
Directing is the function of managers or the authority to issue instructions and guidance to subordinates and oversee their implementation. The management guides and inspires the other members towards achieving the set organizational goals. Directing is providing leadership to junior members of the organization.
The President of the Mount Pleasant Student Council is directing the members to ensure a successful event.