Answers
From the question the true statement is: the light falling on one eye will cause both pupils to constrict equally.
What the function of pupils?The pupil opens and closes to control the amount of light entering the eye. Light from the outside of the eye enters the pupil through a clear lens. This light is focused on the retina, the layer of light-sensitive cells in the back of the eye. The pupil lets light into the eye while the iris muscles change shape. The lens of the eye focuses light passing through the pupil. The light then travels deep into the eye and hits the retina.
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Related Questions
The Woodruff Corporation purchased a piece of equipment three years ago for $230,000. It has an asset depreciation range (ADR) midpoint of eight years. The old equipment can be sold for $90,000.
A new piece of equipment can be purchased for $320,000. It also has an ADR of eight years.
Assume the old and new equipment would provide the following operating gains (or losses) over the next six years:
New Equipment
Year 1: $80,000
Year 2 $76,000
Year 3: $70,000
Year 4: $60,000
Year 5: $50,000
Year 6: $45,000
Old Equipment
Year 1: $25,000
Year 2: $16,000
Year 3: $9,000
Year 4: $8,000
Year 5: $6,000
Year 6: $(7,000)
Question: The firm has a 25 percent tax rate and a 9 percent cost of capital. Should the new equipment be purchased to replace the old equipment? Explain your answer.
Answers
The firm has a 25 percent charge rate and a 9 percent cost of capital the new hardware be bought to supplant the old gear Thus The old hardware can be sold for $90,000.
In financial matters, capital merchandise or capital are "those sturdy delivered merchandise that are thusly utilized as useful contributions for additional creation" of products and services. At the macroeconomic level, "the country's capital stock incorporates structures, gear, programming, and inventories during a given year.
A common model is the hardware utilized in processing plants. Capital can be expanded by the utilization of the elements of creation, which anyway rejects specific tough merchandise like homes and individual vehicles that are not utilized in that frame of mind of saleable labor and products.
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According to O*NET, what are common skills needed
by Tour Guides? Select three options.
active listening
science
speaking
social perceptiveness
troubleshooting
equipment maintenance
repairing
Answers
Answer:
1 3 4
Explanation:
Answer:
1 3 and 4
Explanation:
...
Alfred E. Old and Beulah A. Crane, each age 42, married on September 7,2017. Alfred and Beulah will file a joint return for 2019. Alfred's Social Security number is 111-11-1109. Beulah's Social Security number is 123-45-6780, and she adopted "Old" as her married name. They live at 211 Brickstone Drive, Atlanta, GA 30304. Alfred was divorce from Sarah Old in March 2016. Under the divorce agreement, Alfred is to pay Sarah $1,250 per month for the next 10 years or until Sarah's death, whichever occurs first. Alfred pays Sarah $15,000 in 2019. In addition, in January 2019, Alfred pays Sarah $50,000, which is designated as being for her share of the marital property. Also, Alfred is responsible for all prior years' income taxes. Sarah's Social Security number is 123-45-6788. Alfred's salary for 2019 is $150,000. He is an executive working for Cherry.Inc. (Federal I.D. No. 98-7654321). As part of his compensation package, Cherry provides him with group term life insurance equal to twice his annual salary. His employer withheld $24,900 for Federal income taxes and $8,000 for state income taxes. The proper amounts were withheld for FICA taxes. Beulah recently graduated from law school and is employed by Legal Aid Society.Inc. (Federal I.D. No. 11-1111111), as a public defender. She receives salary of $42,000 in 2019. Her employer withheld $7,500 for Federal income taxes and $2,400 for state income taxes. The proper amounts were withheld for FICA taxes. Alfred and Beulah had interest income of $500. They received $1,900 refund on their 2018 state income taxes. They claimed the standard deduction on their 2018 Federal income tax return. Alfred and Beulah pay $4,500 interest and $1,450 property taxes on their personal residence in 2019. Their charitable contributions total $2,400 (all to their church). They paid sales taxes of $1,400, for which they maintain the receipts. Alfred and Beulah have never owned or used any virtual currency, and they do not want to contribute to the Presidential Election Campaign. Compute the Old's net tax payable (or refund due) for 2019. Suggested software: ProConnect Tax Online
Answers
To compute the Olds' net tax payable (or refund due) for 2019, we need to gather all the relevant information and calculate their taxable income, apply the appropriate tax rates, deductions, and credits. Since the tax calculation involves various factors and tax laws, it would be best to use tax software such as ProConnect Tax Online or consult with a tax professional. The software will streamline the process and ensure accurate calculations based on the specific tax laws and regulations applicable to the Olds' situation.
The real exchange rate (RER) between two currencies is the product of the nominal exchange rate (the dollar cost of a euro, for example) and the ratio of prices between the two countries. The core equation is RER = eP*/P, where, in our example, e is the nominal dollar/euro exchange rate, P* is the average price of a good in the euro area, and P is the average price of the good in the United States.
Answers
Yes, that is correct. The real exchange rate (RER) is a measure of the relative price of goods and services between two countries.
It is calculated by dividing the nominal exchange rate (the price of one currency in terms of another) by the ratio of the price levels in the two countries. The RER is an important concept in international trade and finance because it affects the competitiveness of a country's exports and the cost of its imports. A high RER means that a country's goods and services are relatively expensive compared to those of other countries, which can make it harder to sell exports and can lead to a large trade deficit. A low RER, on the other hand, means that a country's goods and services are relatively cheap, which can make its exports more competitive and boost economic growth.
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Park Co. is considering an investment that requires immediate payment of $27,215 and provides expected cash inflows of $8,400 annually for four years. Assume Park Co. requires a 8% return on its investments.
a. What is the net present value of this investment?
b. Based on NPV alone, should Park Co. invest?
Answers
Answer:
Um plano contém uma única reta.
How pay for workers is determined?
Answers
I hope this answer helps you :D
And have a great day!
_______best tip of the waiter a.attitude b.gratitide c.money d.foods
Answers
Answer:
Gratititude, because attitude is nice but not the best, money doesn't buy happiness, and the waiter serves YOU food.
Answer:
C: money. It would be money because the waiter or waitress doesn't care if your nice they just need to make a living.
Explanation:
May I have brainliest please I'm trying to level up!
</3 PureBeauty
how did the paleolithic people came to know about fire
very short
Answers
Answer:
There are multiple theories, nobody can be 100 percent sure how but here are 2 main theories:
Explanation:
-Lightning strikes a nearby tree, which catches fire. Frightened but inspired, these cavemen venture out, bring burning sticks back into their cave and learn to use fire.
-They may have used pieces of flint stones banged together to created sparks. They may have rubbed two sticks together generating enough heat to start a blaze.
Which statement best describes the difference between a market and traditional economy
Answers
Answer: in a traditional economy, decisions are based on habit and custom
Explanation:
Question 6
(6 Marks)
Entity Z is trying to obtain a cost estimate for the costs of repairs. The following monthly repair costs
have been recorded for the past six months.
Plack Company is a manufacturing company that makes and sells a single product. The following
information relates to the company's manufacturing operations in the next financial year.
->
Opening and closing stock:
Production:-
Sales:
Fixed production overheads:
Fixed sales overheads:
Nil
18,000 units-unit manufactured 3000
15,000 units Units sold,
Closing
Inver
R72,000
Using absorption costing, the company has calculated that the budgeted profit for the year will be
R43,000.
>
Marginal Absorption
Required:
What would be the budgeted profit if marginal costing is used, instead of absorption costing?
Answers
The budgeted profit using marginal costing would be -R12,000.
How to calculate the costUsing the information provided:
Opening stock = 0
Production = 18,000 units
Closing stock = 0
Fixed production overheads = R72,000
Total variable manufacturing costs = 0 + 18,000 - 0 - R72,000 = -54,000 (negative value due to fixed production overheads)
Total variable production cost per unit = -54,000 / 18,000 = -3 (negative value due to fixed production overheads)
Budgeted profit using marginal costing = (Sales - Total variable production cost per unit * Units sold) - Fixed sales overheads
Given:
Sales = 15,000 units
Fixed sales overheads = R72,000
Total variable production cost per unit = -3
Budgeted profit using marginal costing = (15,000 - (-3) * 15,000) - 72,000
= (15,000 + 45,000) - 72,000
= 60,000 - 72,000
= -12,000
Therefore, the budgeted profit using marginal costing would be -R12,000.
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How important are structure and culture compared to the other primary internal considerations for a strategic plan?
Answers
Structure and culture are among the primary internal considerations for a strategic plan. The importance of structure and culture cannot be undermined, as they both play an important role in the success of a company's strategic plan. Although there are other factors that may contribute to the success of a strategic plan, structure and culture are vital. They can be used to leverage the strengths of an organization to achieve its goals.
Structure refers to how an organization is organized and the interrelationships between different departments. A company's structure determines how information flows within the organization, and how employees interact with one another.
An effective structure enables employees to work together efficiently, leading to a higher level of productivity.
Culture refers to the set of values, beliefs, and attitudes that guide the behavior of an organization's members. A positive culture promotes employee engagement, which is essential for achieving an organization's goals.
A company's culture can influence how it deals with problems, how employees communicate with each other, and how they make decisions, among other things.
In conclusion, structure and culture are essential components of an organization's strategic plan.
By investing in a positive culture and a well-defined structure, companies can increase employee engagement, productivity, and ultimately, achieve their goals.
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Question 1. A firm produces a product that sells for $150 per unit. Variable cost per unit is $67 and fixed
cost per period is $35,500. The firm's maximum capacity of production per period is 1,000 units.
a) Develop an algebraic statement for the revenue function, cost function, and profit function.
b) Determine the number of units required to be sold to break even.
c) Compute the break-even point as a percent of capacity.
d) Compute the break-even point in sales dollars.
Answers
The revenue function (R) shows the total amount of money made from the sale of a specific number of units. It is computed by dividing the total number of sold units by the selling price per unit. R = $150 * Selling Price per Unit * Number of Sold Units Q P = R - C , P = ($150 * Q) - ($67 * Q + $35,500), P = $83 * Q - $35,500
A calculation or equation that describes how certain sources of revenue will behave on a graph.
The most typical revenue function, for instance, is given by the equation y = bx, where y represents total revenue, b represents the selling price per unit of sales, and x represents the quantity of units sold.
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Windsor Inc. purchased land at a price of $34,900. Closing costs were $2,070. An old building was removed at a cost of $14,020. What amount should be recorded as the cost of the land
Answers
Answer:
the amount that recorded as the cost of the land is $50,990
Explanation:
The computation of the amount that recorded as the cost of the land is shown below
= Purchase price of the land + closing cost + removing cost of an old building
= $34,900 + $2,070 + $14,020
= $50,990
Hence, the amount that recorded as the cost of the land is $50,990
We simply applied the above formula so that the correct value could come
And, the same is to be considered
Forward Co. discarded a machine that cost $5,000 and was fully depreciated. The entry to record this transaction would include a credit to the
account.
Answers
Based on the fact that Forward Co. discarded a machine with cost $5,000, the entry to record this transaction in the books would include a credit to Machinery.
How do you dispose of fixed assets?When fixed assets are to be disposed of, the accumulated depreciation upt to that point is looked at to calculate the net book value.
This would then show the company if they made a profit or a loss when they sold the fixed asset with a profit being made when the selling price is higher than the net book value.
Regardless of the price the fixed asset is sold at, the company would record a credit to the fixed asset (machinery) account to show that the fixed asset account is decreasing.
In conclusion, there will be a credit to machinery.
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Which sentence in this excerpt from Ambrose Bierce's "An Occurrence at Owl Creek Bridge" uses personification? Excepting the group of four at the center of the bridge, not a man moved. The company faced the bridge, staring stonily, motionless. The sentinels, facing the banks of the stream, might have been statues to adorn the bridge. The captain stood with folded arms, silent, observing the work of his subordinates, but making no sign. Death is a dignitary who when he comes announced is to be received with formal manifestations of respect, even by those most familiar with him. In the code of military etiquette silence and fixity are forms of deference.
Answers
Answer:
The sentence in this excerpt from Ambrose Bierce's "An Occurrence at Owl Creek Bridge" that uses personification is:
Death is a dignitary who when he comes announced is to be received with formal manifestations of respect, even by those most familiar with him.
Explanation:
Here, Ambrose Bierce or the narrator addresses death as a person. He makes death to become a dignitary, capable of visiting a person or community. Grammatically, personification is a literary device or a figure of speech in which human attributes or characteristics are ascribed to non-human things or objects as if they were human. It uses metaphor, another literary device, to achieve this attribution.
Answer:
Death is a dignitary who when he comes announced is to be received with formal manifestations of respect, even by those most familiar with him.
Explanation:
Credit reporting agencies are required to exclude negative information that is older than five years old. A) True B) False
Answers
Just took the test got it correct
what are some ways the financial crisis in 2008 could've been avoided
Answers
The financial crisis in 2008 could've been avoided in some ways by Regulating the housing market, Proper regulation banks and financial institutions, Introduction of better accounting standards, Encouraging greater transparency, and Regulating credit rating agencies.
The global financial crisis of 2008 was a significant economic event that had a far-reaching impact on the worldwide economy. The crisis resulted in the collapse of numerous leading financial institutions, which led to unprecedented losses in the stock market, a decline in economic growth, and high levels of unemployment. It is commonly believed that the crisis could have been avoided if appropriate measures had been taken at the right time.
Here are some ways the financial crisis in 2008 could have been avoided:
1. Regulating the housing market: The financial crisis of 2008 originated from the housing market collapse. Banks and financial institutions had given loans to people who could not afford them, and when the housing bubble burst, a massive number of mortgages went into default. If the government had regulated the housing market more effectively, the financial institutions would not have been able to give out loans to risky borrowers, and the housing market would not have collapsed.
2. Proper regulation of banks and financial institutions: If banks and financial institutions were regulated more effectively, they would not have been able to engage in risky financial practices that led to the crisis. Regulators would have spotted the risky activities early on and would have been able to take corrective action before it was too late.
3. Introduction of better accounting standards: During the financial crisis of 2008, banks and financial institutions engaged in creative accounting practices to hide their losses. This deception made it difficult to ascertain the real situation of the banks and financial institutions, leading to a lack of confidence in the market. If better accounting standards had been introduced, this could have been avoided.
4. Encouraging greater transparency: The financial crisis of 2008 was partly caused by a lack of transparency in the market. If regulators had encouraged greater transparency, there would have been more information available to investors, which could have led to greater confidence in the market.
5. Regulating credit rating agencies: Credit rating agencies played a significant role in the financial crisis of 2008. They gave high ratings to toxic financial products, which misled investors and led to the collapse of the market. If credit rating agencies were regulated more effectively, they would not have been able to give high ratings to risky products, and the market would have been more stable.
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I'LL MARK BRAINLIEST
Which of the following describes the impact a few years of heavy rainfall would have on commodity prices?
- Crops would enjoy a longer planting season, and commodity prices would go down. - - Planting would be delayed, resulting in crop shortages, and commodity prices would rise.
- Crops would increase due to additional rainfall, and commodity prices would go down. - Planting would be delayed, limiting farmers’ risks, and commodity prices would rise.
Answers
Answer:
Crops would enjoy a longer planting season, and commodity prices would go down
Explanation:
Answer:
c
Explanation:
Assume that a state government currently provides no child-care subsidies to working single parents, but it now wants to adopt a plan that will encourage labor force participation among single parents. Suppose that child-care costs are hourly, and suppose the government adopts a child-care subsidy that pays $3 per hour for each hour the parent works, up to 8 hours per day. Draw a current budget constraint (net of child-care costs) for an assumed single mother and then draw in the new constraint. Discuss the likely effects on labor force participation and hours of work.
Answers
Answer:
The line on the graph will be parallel to the pre-subsidy line and the new constraint will then be equal to the points connecting the two lines.
Explanation:
The subsidy by government to single parents is $3 per hour for up to 8 hours. The total of subsidy will be $16 for each day. The labor force who were not receiving the subsidy before had steep indifference curve but now few workers will find utility maximization with flatter indifference curve so the workers will join the subsidy program.
list and identify donors restrictions about net asset and change in net asset.
Answers
Net assets with donor restrictions – The part of net assets of a not-for-profit entity that is subject to donor-imposed restrictions.
How do you define an asset?An asset is something with monetary worth and/or potential reward. A machine, a financial instrument, or a patent are examples of assets that frequently provide cash flows in the future. Personal property can include a home, car, investments, works of art, or household items.
What kind of asset is that?Intangible assets like patents, royalties, and other intellectual property are included in the category of assets together with tangible items like machinery, real estate, raw materials, and inventory.
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"Make Risk Management Part of Your Project" Critically analyze the validity of this statement.
Answers
Answer:
"Make Risk Management Part of Your Project" is a valid statement because effective risk management is crucial for the success of any project.
There are several key benefits to incorporating risk management into a project:
Improved decision-making: By identifying and assessing potential risks, a project team can make more informed decisions about how to proceed.Enhanced planning: Risk management helps a team to identify potential roadblocks and develop contingency plans to ensure that the project stays on track.Increased efficiency: By identifying and addressing risks early on, a project team can avoid costly delays and disruptions later in the process.Enhanced stakeholder confidence: By demonstrating a proactive approach to risk management, a project team can build trust and confidence with stakeholders.To sum up... making risk management part of a project is essential for its success, as it helps to identify and mitigate potential issues and challenges, and ultimately leads to a more efficient and successful project.
Johnson Inc. is a job-order manufacturing company that uses a predetermined overhead rate based on direct labor hours to apply overhead to individual jobs. For the current year, estimated direct labor hours are 95,000 and estimated factory overhead is $617,500. The following information is for September of the current year. Job A was completed during September, and Job B was started but not finished.
Answers
Sunrise, Inc., has no debt outstanding and a total market value of $245,000. Earnings before interest and taxes, EBIT, are projected to be $19,000 if economic conditions are normal. If there is strong expansion in the economy, then EBIT will be 25 percent higher. If there is a recession, then EBIT will be 40 percent lower. The company is considering a $58,800 debt issue with an interest rate of 8 percent. The proceeds will be used to repurchase shares of stock. There are currently 5,000 shares outstanding. Ignore taxes for this problem. Assume the stock price is constant under all scenarios.
Required:
a. Calculate earnings per share, EPS, under each of the three economic scenarios before any debt is issued. Also calculate the percentage changes in EPS when the economy expands or enters a recession.
b. Repeat part (a) assuming that the company goes through with recapitalization. What do you observe?
Answers
Answer:
Sunrise, Inc.
a. Earnings per share (EPS) under the three economic scenarios before debt is issued:
Scenarios EBIT EPS Percentage Changes
Normal $19,000 $3.80 ($19,000/5,000)
Expansion $23,750 $4.75 ($23,750/5,000) 25% ($0.95/$3.80 * 100)
Recession $11,400 $2.28 ($11,400/5,000) 40% ($1.52/$3.80 * 100)
b. After capitalization, Earnings per share (EPS) under the three economic scenarios:
Repurchase of stock = $58,800/$49 = 1,200 shares
Outstanding shares = 3,800 (5,000 - 1,200)
Interest expense = $4,700 approx.
Net Income (taxes ignored) = $14,300
Scenarios Net income
Normal $14,300 ($19,000 - $4,700 Interest)
Strong Expansion $17,875 ($14,300 * 1.25)
Recession $8,580 ($14,300 * 0.60)
Scenarios Net income EPS Percentage Changes
Normal $14,300 $3.76 ($14,300/3,800)
Expansion $17,875 $4.70 ($17,875/3,800) 25% ($0.94/$3.76 * 100)
Recession $8,580 $2.25 ($8,580/3,800) 40% ($1.51/$3.76 * 100)
Observation:
The EPS changed under each scenario when the debt was issued, but the percentage changes remained similar to the changes before the debt issue. This can be attributed to the change in the outstanding shares from 5,000 to 3,800. With the debt issue, the EBIT is not used in the calculations but the income after taxes.
Explanation:
a) Data and Calculations:
Total market value = $245,000
Outstanding shares = 5,000
Market price per share = $49 ($245,000/5,000)
EBIT (Earnings before interest and taxes) = $19,000 (normal economic condition)
Scenarios EBIT
Normal $19,000
Strong Expansion $23,750 ($19,000 * 1.25)
Recession $11,400 ($19,000 * 0.60)
Debit issue = $58,800
Interest rate of debt = 8%
Using the appropriate tool from the Accountant Tools menu, which 4 of the following can be batch reclassified in QuickBooks Online Accountant?
Answers
Using the appropriate tool from the Accountant Tools menu, the 4 options that can be batch reclassified in QuickBooks Online Accountant are options A, B, C and F:
ClassesCustomersProducts and ServicesAccountWhat is QuickBooks Online Accountant?In the above question, too batch reclassify these items, you can use the "Batch Reclassify Transactions" tool, which can be found under the Accountant Tools menu.
This tool allows you to select multiple transactions and reclassify them to a different account, class, customer, or product/service.
Therefore, Locations, tax codes, and suppliers cannot be batch reclassified using this tool. However, you can edit individual transactions to change their location, tax code, or supplier if necessary.
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See full question below
Using the appropriate tool from the Accountant Tools menu, which 4 of the following can be batch reclassified in QuickBooks Online Accountant?
Classes
Customers
Products and Services
Locations
Tax Code
Account
Suppliers
yall have anything to cure depression? lmk pls ._.
Answers
Answer:
Anti-depressants :))))))))
they make u HIGH on happiness :DDDDDDDDDDDDDDDDDD
Answer:
Morningggggggg
Explanation:
Which of the following is an example of a macroeconomic statement?
Lay-offs have led to increasing unemployment in the RV industry.
John Smith was recently laid off from his job at Thor.
The Elkhart County unemployment rate is 2%.
The national unemployment rate is 4%.
Answers
Answer:
The national unemployment rate is 4%
Explanation:
The following statement is an example of a macroeconomic statement: "The national unemployment rate is 4%."
A macroeconomic statement refers to an economic statement or analysis that focuses on the broader economy as a whole rather than on individual markets or companies. In this case, the statement about the national unemployment rate refers to the overall labor market in the country and not to a specific company or industry. The other statements are either about an individual's experience (John Smith's layoff) or a specific regional unemployment rate (Elkhart County's unemployment rate).
Assignment for Intermediate Financial Accounting One Identify the purpose of financial reporting. Describe the qualitative characteristics of accounting information. Identify the elements of financial statements. The following information is available for Inverness Ltd.'s second year in business: Opening merchandise inventory is Br 35,000. Goods are marked to sell at 35% above cost. 1. 2. 3. 4. ● ● • Merchandise purchased totaled Br 600,000. . Collections from customers are Br 420,000. Ending merchandise inventory is Br 225,000. Opening accounts receivable balance is $0. Ending accounts receivable balance is $85,000.
Answers
Financial reporting is the process of producing and presenting financial information that is useful to stakeholders in making economic decisions.
What is Financial reporting?The purpose of financial reporting is to provide transparency and accountability to stakeholders, enabling them to assess the financial performance and position of an entity and make informed decisions.
The qualitative characteristics of accounting information are the attributes that make it useful for decision-making. The most important characteristics are understandability, relevance, reliability, comparability, and consistency.
The elements of financial statements are the basic components used to prepare financial reports. The main elements are assets, liabilities, equity, revenues, and expenses.
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How long should a résumé be
Answers
Answer:
Mark Brainliest
Explanation:
For most candidates, a resume should be only one page. Be brief and concise with anything you write on your resume. Customize your resume for the job you're applying for and include only relevant experience. If you've done everything right, you shouldn't get past one page
List and explain the five steps of the Inductive outline. When do you use it in business communications?
Answers
The inductive outline is commonly used in business communications such as reports, proposals, and presentations. It is particularly useful when presenting a complex idea or argument and when you want to persuade your audience to take a specific action or make a decision.
Introduction: This is where you introduce the main topic or idea. In this step, you should grab the reader's attention and set the stage for what's to come.
Background: This step provides the necessary context for the main idea. It is where you explain the history, background, and context of the topic you are discussing.
Evidence: This step is where you present evidence to support your main idea. You should provide facts, statistics, anecdotes, and other evidence that support your argument.
Analysis: In this step, you analyze the evidence you presented in the previous step. You should explain how the evidence supports your main idea and address any counterarguments.
Conclusion: The final step is the conclusion, where you summarize your main points and reinforce your argument. You should leave the reader with a clear understanding of your argument and why it is important.
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Bakersfield Corp. pays income tax at an average rate of 30 percent. This year its revenue is $124,000 and its expenses are $82,000. The adjusting entry to record the income tax expense will:
Multiple Choice
decrease net income by $42,000.
increase shareholders' equity by $12,600.
decrease liabilities by $12,600.
decrease shareholders' equity by $12,600.
Answers
The adjusting entry to record the income tax expense for Bakersfield Corp. will decrease net income by $42,000. Option A is the correct answer.
The adjusting entry to record the income tax expense for Bakersfield Corp. will decrease net income by $42,000.
The income tax expense is calculated by applying the applicable tax rate to the taxable income. In this case, Bakersfield Corp. has revenue of $124,000 and expenses of $82,000, resulting in a taxable income of $42,000 ($124,000 - $82,000).
Since Bakersfield Corp. pays income tax at an average rate of 30 percent, the income tax expense will be 30 percent of the taxable income:
Income tax expense = Taxable income x Tax rate
= $42,000 x 0.30
= $12,600
Adjusting entries are made at the end of an accounting period to ensure that revenues and expenses are properly recognized. In this case, the adjusting entry will decrease net income by the amount of the income tax expense.
This adjustment reflects the company's obligation to pay income tax and reduces its reported net income.
Therefore, the correct option is: "Decrease net income by $42,000."
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