During 2018, a company reported an increase in the deferred tax liability account of $47,790, a decrease in the deferred tax asset account of $17,225, and an income tax liability as per the 2018 income tax return of $198,375. What is the income tax expense to be reported on the income statement for the year ending December 31, 2018?
A. $228,940
B. $198,375
C. $263,390
D. $167,810
Answer: C
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Assume that the net sales for a company is $5,000, cost of goods sold is $3,000, and average inventory is $1,500 . Calculate the number of days' sales in inventory
a. 145 b. 274 c. 110 d. 183
What is Houston's free cash flow for all debt and equity holders for year 2012?
a. $564 b. $399 c. $324 d. $202
Use this information to answer the following question. These facts concern the long-term stock investments of DeBord Corporation: June 1, 2014 Paid cash for the following long-term investments: 5,000 shares Vanhook Corporation common stock (representing 5 percent of outstanding stock) at $40 per share; 3,000 shares Shust Corporation common stock (representing 3 percent of outstanding stock) at
$24 per share. Dec. 31, 2014 Quoted market prices at year end: Vanhook common stock, $35; Shust common stock, $27. April 1, 2015 A change in policy required the sale of 1,000 shares of Vanhook Corporation common stock at $38. July 1, 2015 Received a cash dividend from Shust Corporation equal to $.30 per share. Dec. 31, 2015 Quoted market prices at year end: Vanhook common stock, $39; Shust common stock, $22. The entry to set up the Allowance to Adjust Long-Term Investments to Market in 2014 is: A) Long-Term Investments 16,000 Realized Loss 16,000 B) Realized Loss 16,000 Long-Term Investments 16,000 C) Allowance to Adjust Long-Term Investments to Market 16,000 Long-Term Investments 16,000 D) Unrealized Loss on Long-Term Investments 16,000 Allowance to Adjust Long-Term Investments to Market 16,000
Answer the following statements true (T) or false (F)
1. Top managers report to other executives or boards of directors. 2. The team leader is not usually a permanent management position and thus is not a level in the hierarchy of management. 3. The three types of managers are general managers, functional managers, and project managers. 4. A manager’s job in a not-for-profit organization is typically very different from a manager’s job in a for-profit organization.