Costello Corporation reported pretax book income of $502,000. During the current year, the reserve for bad debts increased by $9,000. In addition, tax depreciation exceeded book depreciation by $42,000. Finally, Costello received $4,000 of tax-exempt life insurance proceeds from the death of one of its officers. Costello's deferred income tax expense or benefit would be:________.

Answers

Answer 1

Answer: $11220

Explanation:

Based on the scenario in the question, first, we.have to calculate the difference in net tax which will be:

= $42000 - $9000

= $33,000

Using a tax rate of let's say 34%, Costello's deferred income tax expense would be:

= $33,000 × 34%

= $33000 × 0.34

= $11220


Related Questions

A measure of the outcome of a decision such as profit, cost, or time is known as a _____. a. forecasting index b. payoff c. branch d. regret

Answers

Answer:

b. payoff

Explanation:

In the context of business, this measurement is known as a payoff. In other words, it refers to whatever is obtained as a final result from a specific outcome generated after making specific decisions. Every business decisions revolve around what the potential payoffs will be in order to decide whether or not they will be worth making and if the benefits outweigh the negative aspects.

Which of these best explains why gold and silver came to be regarded as money?
Group of answer choices

A. They were scarce and did not decay.

B. They could be shaped into jewelry.

C. They were easy to store in bank vaults.

D. They came from mines owned by rulers.

Answers

Answer:

A. gold was rare and did not tarnish or decay, and silver was less rare than gold to signify a lower denomination.

All of the following are examples of mixed economies EXCEPT
Multiple Choice
in socialist France, the French government owns the postal service industry.
in socialist Sweden, most businesses are owned and operated by private individuals.
in capitalist United States, an independent federal agency operates the postal service.
In once-communist Russia, private ownership of businesses has been implemented.
in communist China, state capitalism is used to advance the economy.

Answers

Answer:

in socialist France, the French government owns the postal service industry.

Explanation:

A mixed economy combines elements of a pure socialists (command) economy and a  capitalist (free market )economy.  A socialist economy is where the government controls all economic activities and decisions in a country. The private sector is absent in a socialist economy.  A  capitalist or free-market economy is one where the government does not interfere with a country's economic activities. The private sector does production and distribution in the economy.

A mixed economy will have traits of socialists and a capitalist economy. Both the government and private sector participates in economic activities.

What are the arithmetic and geometric average returns for a stock with annual returns of:__________.
a) 4%,
b) 9%,
c) -6%,
d) 18%

Answers

Answer:

Arithmetic average return = 6.25%

Geometric average return = 5.89%

Explanation:

Annual returns of 4%,  9%,  -6% and  18%

Arithmetic average return of the stock = ∑ 4%,9%,-6%,and 18% / n

= 25%/4

= 6.25%

Geometric average return formula = x1,*x2*x3 .....^1/n  - 1

Geometric average return = 1.04*1.09*(1-0.06)*1.18^1/4 -1

Geometric average return = 1.04*1.09*0.94*1.18^1/4 - 1

Geometric average return  = 1.25789^1/4-1

Geometric average return = 1.0589 - 1

Geometric average return = 0.0589

Geometric average return = 5.89%

Maytag Company earns $4.80 per share. Today the stock is trading at $59.25. The company pays an annual dividend of $1.40. a. Calculate the price-earnings ratio

Answers

Answer:

A. Price-earnings ratio= 12.34

B. Yield on the stock = 2.36%

Explanation:

A. Calculation for the price-earnings ratio using this formula

Price-earnings ratio=Market Price Per Share / Earnings Per share

Let plug in the formula

Price-earnings ratio=59.25 / 4.80

Price-earnings ratio= 12.34

B. Calculation for the yield on the stock using this formula

Yield on the stock=Annual dividends per share / market price per share

Let plug in the formula

Yield on the stock=1.40 / 59.25

Yield on the stock = 2.36%

Therefore the Price-earnings ratio is 12.34 while the Yield on the stock is 2.36%

____ anxiety is the feeling that unless an organization makes a change, it is going to be out of business or fail to achieve some important goals.
A. Functional.
B. Organizational.
C. Survival.
D. Learning.

Answers

Answer:

C. Survival.

Explanation:

Given that Survival in terms of the business firm means that a firm in business survival level often results to reducing the cost of operation as much as possible, including reducing workers, keeping more cash, rather than working towards the growth of the business firm, and many more so as not to enter into insolvency.

Hence, SURVIVAL anxiety is the feeling that unless an organization makes a change, it is going to be out of business or fail to achieve some important goals.

Match each cost with the investment type to which it relates. investment advisory fees administrative costs commissions hourly fees

Answers

Answer:

Stocks and bonds: commissions and hourly fees

Mutual funds: administrative costs and investment advisory fees

Explanation:

Stocks and bonds: commissions and hourly fees.

Mutual funds: administrative costs and investment advisory fees.

What are Mutual funds?

In order to engage in securities such as stocks, bonds, money market instruments, and other assets, mutual funds pool the funds from shareholders.

Professional money administrators run mutual funds, allocating the assets and attempting to generate capital gains or income for the fund's investors.

The portfolio of a mutual fund is set up and kept up to date in accordance with the specified investment goals in the prospectus.

Small or individual investors have access to expertly managed portfolios of stocks, bonds, and other securities through mutual funds. As a result, each shareholder shares proportionately in the fund's profits or loses.

The performance of mutual funds, which invest in a huge variety of securities, is typically measured by changes in the fund's overall market capitalization.

Learn more about Mutual funds, here

https://brainly.com/question/13247161

#SPJ7

Suppose we are interested in bidding on a piece of land and we know one other bidder is interested. The seller announced that the highest bid in excess of $9,700 will be accepted. Assume that the competitor's bid is a random variable that is uniformly distributed between $9,700 and $14,700.

Answers

Supposing we bid $12,000 and $14,000 on the piece of land, the probability that the bid will be accepted is 0.46 and 0.86 respectively.

What is a probability?

As a branch of mathematics, a probability is mostly concerned with the analysis of random phenomena, that is, it is based of the idea that the outcome of a random event cannot be determined before it occurs but it may be any one of several possible outcomes.

Given data

Highest bid in excess of $9,700 will be accepted.

Competitor's bid between $9,700 and $14,700.

Probability that your bid will be accepted:

= (12000 - 9700) / (14700 - 9700)

= 0.46

Probability that your bid will be rejected

= (14000 - 9700)/(14700 - 9700)

= 0.86

Missing words "Suppose you bid $12,000. What is the probability that your bid will be accepted and Suppose you bid $14,000. What is the probability that your bid will be accepted"

Read more about probability

brainly.com/question/24756209

#SPJ1

Users of accounting information can be divided into two main groups.

O production managers and purchasing managers
O customers and regulators
O lenders and shareholders
O internal and external

Answers

Answer:

internal and external

Explanation:

internal to make business decisions

external is for investors and creditors

A positive consequence of organizational distress may take the form of: a. functional turnover. b. absenteeism. c. employee work stoppage. d. performance increments.

Answers

Answer:

a. functional turnover

Explanation:

Organizational distress is arise when the anxiety level of the management is too high to adapt for modify

Now the positive result for the organziational distress would take a form of functional turnover as the turnover of the company depend upon the different kinds of functions

Hence, the correct option is a.

You have typically set work standards that were aimed: At the same level as other employees. At achieving the highest quality possible. Above average as compared to other employees. At completing the largest quantity of work.

Answers

Answer:

You have typically set work standards that were aimed:

At achieving the highest quality possible.

Explanation:

A good work standard, which is usually a written description of how a process should be done, guides consistent execution of a work process.  Current "best practice" is documented in the work standard, and this ensures complete implementation throughout the company.  A work standard provides the baseline, below which work should never be performed or accepted.  This implies that every good work standard aims at achieving the highest quality.

Employment testing Group of answer choices should be directly related to the job. was declared illegal by the EEOC in 1989, because it was often used to discriminate against women and minorities. is legal, but is a very poor predictor of worker performance. should focus on the most basic and general skills rather than on skills directly related to the job.

Answers

Answer:

Employment Testing:

is legal, but is a very poor predictor of worker performance.

Explanation:

Employment testing is legal.  However, it should be professionally developed and administered according to the employer's intended purpose.  That purpose must be to enable the employer hire employees that fit the profile of the organization. It is also used to predict a new employee's job performance and retainability.  But, it has been discovered that employment testing does not accurately predict the worker's future performance.

6. Consider an economy described by the following equations:
Y = C + I + G
Y = 5,000 G = 1,000 T = 1,000
C = 250 + 0.75(Y − T) I = 1,000 − 50 r.
a. In this economy, compute private saving, public saving, and national saving.
b. Find the equilibrium interest rate.
c. Now suppose that G rises to 1,250. Compute private saving, public saving, and national saving.
d. Find the new equilibrium interest rate.

Answers

Answer:

(a) Private saving = Y-T-C

Private saving = 5000-1000-250-0.75(5000-1000)

Private saving = 750

Public saving = T - G

Public saving = 1000-1000

Public saving = 0

National saving = S = private saving+ public saving

National saving = 750

(B)  Equilibrium interest rate = S + I

750 = 1000 - 50r

-50r = 750 - 1000

-50r = -250

50r = 250

r = 250/50

r = 5%

(c) Private saving is unchanged

Public saving = 1000 - 1250

Public saving = - 250

(d) The new equilibrium interest rate

750 (-250) = 1000-50r

500 = 1000 - 50r

- 50r = 500 - 1000

- 50r = -500

-50r = 500

r = 500/50

r = 10%

The 2013 Rana Plaza factory collapse, which killed 1,100 mostly female workers, is a reminder that, globally, many people work in _________

Answers

Explanation:

Rana plaza is place in Bangladesh which which housed five garment factories, killed at least 1,132 people and injured more than 2,500. Sohel rana the owner of the plaza got jailed because of corruption in building construction.The incident reveals that the many people work in garment factory  in Bangladesh.

a single person making $240 weekly and claiming 1 allowance would have $13 withheld for income taxes.A married person making $240 weekly and claiming 1 allowance would have $3 withheld for income taxes.Do you think this is fair?Why or Why not?

Answers

No, it is not fair. If the money they earn is the same, the money withheld should be the same and their status should not affect it.

Exclusive distributorships are: a. covered under the Robinson-Patman Act. b. illegal per se. c. questioned when there is no interbrand competition. d. all of the above

Answers

Answer:

The correct option is c. EXCLUSIVE DISTRIBUTORSHIPS are questioned when there is no interbrand competition

Explanation:

The process in which a manufacturer of a goods or product decide and as well authorize that their would be only one distributor who will be the seller of their products or goods in a territory, a region or a Market is what is called EXCLUSIVE DISTRIBUTORSHIPS reason been that the manufacturer of such product want to know how good their products is in the territory and to get feedback from the customer about their products in order to take important action in a situation where their is lapses about their products.

Secondly in a situation where their is no INTERBRAND COMPETITION the EXCLUSIVE DISTRIBUTORSHIPS are been questioned reason been that INTERBRAND COMPETITION

occur when a manufacturer or producer of a products differentiate their products from other products that is sold in the same market where their products is been sold example of INTERBRAND COMPETITION is Mirinda drink versus Fanta

Therefore EXCLUSIVE DISTRIBUTORSHIPS are questioned when there is no interbrand competition.

This case discusses the case of India and the potential impact of the new government's reforms on the future of India. The case discusses some of the factors that have prevented India from growing faster while also emphasizing the need for reforms. Answer the following questions:

1. What are some of the factors that show that India has lots of promise to shine among the emerging market economies?

2. What are some of the factors that are preventing India from achieving its full potential?

3. Why was China able to achieve such economic growth more easily than India?

4. What are some of the tough reforms that India has to go through in order to succeed?

Answers

Some of the factors that show that India has lots of promise to shine among the emerging market economies are;

India's substantial manufacturing growth, business-friendly reforms, infrastructure development, and political stability make the country the most notable developing market for investors to invest in.

What are some of the factors that are preventing India from achieving its full potential?

India would not be able to grow its economy or develop sustainably until gender and economic disparity are reduced. According to a recent United Nations Development Fund assessment, India trails behind several of its South Asian neighbors on the human development index (HDI), mostly due to inequities.

Why was China able to achieve such economic growth more easily than India?

While economic reforms may account for some of the differences, China outpaced India because:

(1) the economy was privatized sooner;

(2) prices were released sooner;

(3) the labor market underwent much deeper reforms; and

(4) the economy was opened up to international trade and foreign direct investment (FDI) sooner.

Learn more about India's economy:

https://brainly.com/question/16352684
#SPJ1

If Bundle of Goods A contains two pizzas and three sodas, and Bundle B contains three pizzas and three sodas, then Patrick will select Bundle B based on the principle of __________.

Answers

Answer:

utility satisfaction

Explanation:

In simple words, the principle of utility satisfaction states that each and every customer have their own preferences and choice thus their utility satisfaction constraints are different.

In the given case, if the volume of the product is same in both the bundles then the nature of the product that provides more utility to the customer will be chosen by him or her.

Some Enron executives were aware of the financial problems the company was facing and yet failed to reveal this information to the public. These actions taken by Enron executives were
a. unethical.
b. in the best interests of the employees.
c. moral.
d. in the best interests of the shareholders.
e. normal

Answers

Some Enron executives were aware of financial problems the company was facing and yet they failed to reveal such information to the public. So these actions taken by Enron executives were unethical.

The unethical conduct in which the Enron was involved was that, Fastow and others at Enron orchestrated a scheme in order to use off-balance-sheet special purpose vehicles (SPVs) in order to hide Enron's mountains of toxic assets and debt from investors and creditors.

As the Enron executives used some fraudulent accounting practices in order to inflate the company's revenues and hide debt in its subsidiaries. This was an unethical conduct, as they were aware of the financial problems the company was facing and yet failed to reveal this information to the public.

Hence, option A is correct.

To learn more about unethical here:

https://brainly.com/question/9740334

#SPJ1

The tables below show the spending and revenue for Littleland in 2010. Use these tables to answer the following questions.
Spending Category Value (in Millions)
Education $320M
Welfare and Social Security $890M
Healthcare $270M
Defense $120M
Payments on Debt $170M*
Other $240M
*This payment covers total interest owned only.
Revenue Category Value (in Millions)
Income Tax $800M
Sales Tax $270M
Corporate Tax $300M
Social Insurance $340M
GDP in 2010 $7.3 Billion
Total Debt as of 2009 $3.5 Billion
1) How much money (in millions) did Littleland need to borrow in 2010 to finance its government spending?
2) At the end of 2010, what was Littleland's debt to GDP ratio? Give your answer to the nearest whole percentage point.

Answers

Answer:

Explanation:

The total Expenditure  is the summation of all the following parameters ( Spending on Education, Spending on Welfare and social security,  Spending on Healthcare, Spending on Defense, Payments on Debt, Other Spending)

The total Expenditure = $(320+890+270+120+170+240) million

The total Expenditure = $2010 million

However;

The total Revenue = Income Tax+ Sales Tax+ Corporate Tax+ Social Insurance

The total Revenue = $(800+270+300+340) million

The total Revenue = $1710 million

The debt now will be the difference between the total expenditure and the total revenue.

Debt = $(2010-1710) million

Debt = $300 million

Therefore, Littleland needs to borrow  $300 million

At the end of 2010, the total debt = Total debt of 2009 + amount borrowed in 2010

Total debt of 2009 = $ 3.5 billion

amount borrowed in 2010 = $0.3 billion

At the end of 2010, the total debt =  $(3.5+0.3) billion

At the end of 2010, the total debt =  $3.8 billion

Therefore; the Debt to GDP ratio in 2010 = 3.8/7.3 = 52.05%

The Debt to GDP ratio in 2010 = 52.05%

To the nearest whole percentage ≅ 52%

What does haircare look like in 2030?

Answers

Answer:

Explanation:

WHO KNOWS we prob well be all dead by then

PlZ HELP!!!
Gabbie needs to directly connect with her customers in order to educate them about the advantages of using her products. Face-to-face interaction with the customers isn’t possible. What is the next best medium?
A.
multilevel marketing
B.
telemarketing
C.
e-commerce
D.
direct sales
E.
franchising

Answers

Answer:

B.  telemarketing

Explanation:

In the telemarketing, the company or an individual is directly in contact with its customer with respect to the product over the phone call so that they could aware of the product

In this, the face to face interaction is not done

Therefore as per the given situation, the option B is correct as in this met the criteria.

Answer:

b) telemarketing

Explanation:

Southern Home Cooking just paid its annual dividend of $0.74 a share. The stock has a market price of $14 per share and a beta of 1.16. The return on U.S. Treasury bills is 2.5 percent and the market risk premium is 6.8 percent. What is the firm’s cost of equity?

Answers

Answer:

10.39%

Explanation:

Calculation for What is the firm’s cost of equity

Using this formula

Cost of equity=Treasury bills+(Beta*Market risk premium)

Let plug in the formula

Cost of equity=0.025 + (1.16 x 0.068)

Cost of equity=0.025 + 0.0789

Cost of equity=0.1039*100

Cost of equity=10.39%

Therefore the firm’s cost of equity will be 10.39%

The current market value of the assets of ABCD is $86.28 million. The call option value on the firm's assets is $53.09 million. What is the market value of the firm's debt

Answers

Answer: $33.19 million

Explanation:

From the question, we are informed that the current market value of the assets of ABCD is $86.28 million and that the call option value on the firm's assets is $53.09 million.

The market value of the firm's debt will be the difference between the market value of assets and the call option value of the firm's assets. This will be:

= $86.28m - $53.09m

= $33.19 million

List four issues you may have as a parent deciding succession plans for a family owned business of which you are in control. Include an idea on how you would address or attempt to resolve each issues.

Answers

Answer:

1. family fights, 2. kids not wanting to work at the family business, 3. lack of training, 4. pressure to hire family members, 1. hire other people that arent in the family, 2. convinve them to work there, 3. hire well trained people to train family, 4 hire them and see is they are good for the job or not and have themmstart at a easy position

Explanation:

It's important to learn about customs and other aspects of different cultures, but it is not culturally competent to do what with that information?

Question 4 options:

ask thoughtful questions about another culture


adapt your communication style to another person's culture


respect those aspects of another person's culture


apply those aspects to everyone in a culture

Question 5 (1 point)

Answers

It's important to learn about customs and other aspects of different cultures, but it is not culturally competent to apply those aspects to everyone in a culture. Thus the correct option is D.

What is Culture?

Culture represents the customs, beliefs, traditions, rituals, moral values, and religions of an individual or community bought from their ancestors aimed to preserve their existence for future generations.

When an individual learns about another culture and gains information is important with the objective of knowledge sharing but it is not culturally competent to apply those aspects to everyone in culture as everyone is free to choose their cultural values.

This will be a sounding force by applying the new cultural elements to everyone.

Learn more about Culture, here:

https://brainly.com/question/958875

#SPJ1

Which one of the following represents the two views of managerial impact on the
success or failure of the organization?
O Reflective and interactive
O Symbolic and interactive
O Omnipotent and symbolic
O Omnipotent and reflective

Answers

Answer:

C

Explanation:

C is going to be the answer for this question. Have a good day

Money Bank has $500 million dollars in deposits and has 12 percent reserve ratio, how much can Money Bank lend

Answers

Answer:

Money Bank can lend up to $4,167 million.

Explanation:

a) Data and Calculations:

Total deposits = $500 million

Reserve ratio = 12%

Money created by Money Bank = $500/12% = $4,166,666,667

b) The total amount of money which Money Bank can create and lend is dependent on its customers' deposits and the reserve ratio.  This amount can be calculated by dividing the total deposits by the reserve ratio.  This implies that the less the reserve ratio, the more money Money Bank can create and lend out to customers.

Discuss the tradeoffs between fiber-optic and satellite communication in terms of costs, signal capacity, signaling method, interference, likelihood of failure and repair issues, multipoint capability, reconfiguration capability and noise.

Answers

Answer:

Explanation:

I will split this answer into two options...

Fiber Optic communications work by sending data through beams of light through a series of fiber cables. This allows for data transfer at incredibly high speeds and with an almost non-existent probability of data loss. Since cables need to be connected from one end-point to another this form of communication becomes more expensive and the capability of reconfiguration becomes incredibly difficult. The likelihood of failure is also very low due to the nature of the technology.

Satellite communication sends data wirelessly by beaming the data to satellites and then back down to the destination. This allows for data to be transferred worldwide but runs into the risk of interference, data loss, signal loss etc. Costs are much cheaper than Fiber Optics due to the lack of wiring. Multipoint capabilities are high since endpoints can be placed anywhere with a clear line of sight to the sky, which also means that reconfiguration capabilities are high as well.

Oriole Company issues $270,000, 20-year, 10% bonds at 102. Prepare the journal entry to record the sale of these bonds on June 1, 2022.
(Credit account titles are automatically indented when amount is entered. Do not indent manually.)
Account Titles and Explanation Debit Credit
Cash
Bonds Payable 270,000
Premium on Bonds Payable

Answers

Answer:

Explanation:

Date      Account titles and Explanation        Debit         Credit

Jun 01    Cash (270,000*102%)                     $275,400

                    Bonds payable                                              $270,000

                    Premium on Bonds Payable                          $5,400

          (to record the sale of these bonds)

Other Questions
while caring for a patient with cirrhosis, the nurse knows that abnormalities in which phase of pharmacokinetics may occur? Which sentence from "The Tryout"creates tension in the climax of thestory?"...I peered around thebleachers to see ifanybody else looked aslonely as I felt.""Man, that e-mail reallyO ramped up myhomesickness."""My dad's taking aO couple of us out for pizza.Want to come along?"""Come on, Troy, focus,'O Coach Rossi said,clapping his hands." Many soil-dwelling bacteria produce molecules that can be naturally synthesized and kill other species of bacteria. What are these bacteria-killing molecules called?. Ria has these two cubes.The side length of the smaller cube is x cm.The side length of the larger cube is twice the side length of thesmaller cube.Write an expression for the side length of the larger cube interms of x. what is the monthly difference in median income for a male versus a female when both have a bachelor's degree give the inverse, contrapositive, and converse for each of the following state- ments: (a) if she finished her homework, then she went to the party. (b) if he trained for the race, then he finished the race. (c) if the patient took the medicine, then she had side effects. 3 Express 60 of its prime factors in assessing order and answer in index form Fill in the name and empirical formula of each ionic compound that could be formed from the ions in this table: can you help me and solve it Based on the following passage, what mainly can the reader infer about thetraveler (lines 27-32)?27 and there was a new voice,28 which you slowly29 recognized as your own,30 that kept you companyas you strode deeper and deeper3132 into the world,O The traveler wants to hear the opinions of strangers.O The traveler is afraid of going further into the unknown.O The traveler has not considered her own thoughts and desires for a long time.The traveler thinks more clearly in silence. Random means by chance.O TrueO False PLEASEE HELPPPPPthe law of conservation of mass states that mass cannot be created nor destroyed. Explain what this means and provide an example. Use details to support your answer. As a manager, colin realizes that there is no single formula for making easy decisions. In reality, business decisions he has to make involve uncertainty and risk. This describes the ______ model of decision making. It is not important to assess your employability skills when you are planning for a career because you can always get on the job training to get whatever skills you need agree or disagree? electrical double layer design for proton-coupled electron transfer electrode processes: recent advances in well-defined electrodeelectrolyte interface evaluate the appropriateness of the university officials conclusion that being at city university longer makes students happier. Fill in the blank with the best word from the choices below. One word will not be used.impetusinduceprovincialintractableconducive9.After the accident with the horse, nothing could ever _____ Albert to go back to the farm.10. Laughing at someone for having a different accent than yours makes you seem ___11. The___ for his decision to play the violin was his early love of symphonic music.12. Jamie was so ____ do so by the police. that she refused to move her car from the sidewalk even when ordered NEEEEED HELP ASAP!!! marcus wants to accurately assess students' attitudes toward the cafeteria food on his college campus for his psychology research project. what research method should he use to collect this information? "Using readings from eadings in the chapter, How are men and boys and women and girls portrayed in the media, including children's literature and children's television?" 250 words