In its Year 2 income statement, what amount should Shin report as total income tax expense? 3. (TCO B) Justification for the method of determining periodic deferred tax expense is based on the concept of: 4. (TCO B) In Year 2, Ajax, Inc. reported taxable income of $400,000 and pretax financial statement income of $300,000. The difference resulted from $60,000 of nondeductible premiums on Ajax's officers' life insurance and $40,000 of rental income received in advance.
Other Expenses and Losses | | | | Interest expense | | | 18,000 | | | | | Income before income tax | | | 323,525 | Income tax | | | 102,000 | Net income | | | $221,525 | Earnings per common share [($221,525 – $9,000) ÷ 80,000] | | | $2.66* | *Rounded TWAIN CORPORATION | Retained Earnings Statement | For the Year Ended June 30, 2014 | Retained earnings, July 1, 2013, as reported | | | $337,000 | Correction of depreciation understatement, net of tax | | | (17,700) | Retained earnings, July 1, 2013, as adjusted | | | 319,300 | Add: Net income | | | 221,525 | | | | 540,825 | Less: | | | | Dividends declared on preferred stock | | $ 9,000 | | Dividends declared on common stock | | 37,000 | 46,000 | Retained earnings, June 30, 2014 | | | $494,825 | PROBLEM 4-4 (Continued) (b) TWAIN CORPORATION | Income Statement | For the Year Ended June 30, 2014 | Revenues | | | Net sales | | $1,485,050 | Dividend revenue | | 38,000 | Total revenues | | 1,523,050 | Expenses | |
$9,213. c. $9,234. d. $9,324. 99. Assuming that Rich maintains perpetual inventory records, what should be the inventory at January 31, using the moving-average inventory method, rounded to the nearest dollar?
depreciation over 3 years Depreciation costs per year: 24/3= 8 mln per year. Q3. Tax rate in 2012 = Income Tax Expense / Income Before Tax = 1127mln/4914 mln = 22,93% Q4. | Year 0 | Year 1 | Year 2 | Year 3 | | | | | | | | R&D expenses | -77 | | | | | | | | | | | Total Revenues | | 110 | 83 | 55 | All in millions | Cost of Goods Sold | | -8 | -8 | -5 | | Gross Profit | | 102 | 75 | 50 | | depreciation | | -8 | -8 | -8 | | Adm/sales/etc | | -3 | -3 | -2 | | EBIT | -77 | 91 | 64 | 40 | | Unl Net income | -59,34 | 70,13 | 49,32 | 30,83 | | Q5.
FINA 3310 | Project | Dr. Alexandra K. Theodossiou | | Yixin Zhang | 4/4/2012 | 1st Assignment Report Summary In the value line report of the ZALE CORP, an informative abstract about the company was given in one paragraph. It tells the exact year the company was founded and talked about the bankruptcy and reconstruction that the company has been through. Below this abstract, capital structure are listed so that we know the amount of total debt, long-term debt, as well as common stock. Followed by the capital structure, current assets and current liabilities are given from the year 2009 to 2011 with annual rates of change for the past 10years. We can see a negative book value during that period.
CareNotes. Thomson Healthcare, Inc., 2011. Web. 30 Apr. 2012.
| 5,384,000 | | 4,207,000 | | 3,981,000 | | Noncontrolling interests | 11,000 | | 7,000 | | (15,000) | | Total equity (deficit) | 5,395,000 | | 4,214,000 | | 3,966,000 | | http://www.mergentonline.com.proxy-library.ashford.edu/companyfinancials.php?pagetype=asreported&compnumber=4788&period=Annuals&dataarea=BS&range=3&currency=AsRep&scale=AsRep&Submit=Refresh This horizontal analysis will use 2012 as the base year for comparison. Horizontal Analysis | 2012 | 2013 | 2014 | Sales | 90,374,000 | 96,751,000 +7.06% | 98,375,000 +8.85% | Net Earnings | 843,000 | 2,302,000 + 173.07% | 2,282,000 +170.70% | Interest Expense | 435,000 | 462,000 + 6.21% | 433,000 -.46% | Net Earnings per Share | 1.01 | 2.78 +175.25% | 2.93 +190.1% | Cost of Goods Sold | 71,494,000 | 76,858,000 + 7.50% | 78,138,000 +9.29%
28, 2013 | Sep. 29, 2012 | Sep. 24, 2011 | Net sales | $ 170,910 | $ 156,508 | $ 108,249 | Cost of sales | 106,606 | 87,846 | 64,431 | Gross margin | 64,304 | 68,662 | 43,818 | Operating expenses: | | | | Research and development | 4,475 | 3,381 | 2,429 | Selling, general and administrative | 10,830 | 10,040 | 7,599 | Total operating expenses | 15,305 | 13,421 | 10,028 | Operating income | 48,999 | 55,241 | 33,790 | Other income/(expense), net | 1,156 | 522 | 415 | Income before provision for income taxes | 50,155 | 55,763 | 34,205 | Provision for income taxes | 13,118 | 14,030 | 8,283 | Net income | $ 37,037 | $ 41,733 | $ 25,922 | Earnings per share: | | | | Basic | $ 40.03 | $ 44.64 | $ 28.05 | Diluted | $ 39.75 | $ 44.15 | $ 27.68 | Shares used in computing earnings per share: | | | | Basic | 925,331 | 934,818 | 924,258 | Diluted | 931,662 | 945,355 | 936,645
Box G7 or Box G18 Activity 5.7 In Activity 5.1 you used the BAS worksheet to complete the quarterly BAS for The Nice Scent Shoppe. Now we will give you some further information for that quarter and you are to complete the BAS Summary report using Option 2 for PAYG income tax instalment. 1. The FBT instalment has been notified as $2400. The firm requires this to be varied to an annual FBT payable of $12 000.
. Meghan M. Keough Business Law 201 Legal Issue Paper, 11/25/2012 Works Cited, Continued 5. Harney, Kenneth. "Congress Weighs Mortgage Relief Extension." Www.therealdeal.com.