Wilson Electric reports income tax expense of $150,000. Income tax payable at the beginning and end of the year are $20,000 and $25,000, respectively. What is the cash paid for income taxes during the year?
What will be an ideal response?
| Income tax expense | $150,000 |
| ? Increase in income tax payable | (5,000) |
| Cash paid for income taxes | $145,000 |
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R2 measures ________
A) the proportion of variation in one variable that is explained by the other B) the proportion of error variation C) the proportion of variation in Y related to the variation of the categories of X D) the proportion of variation in Y due to the variation within each of the categories of X
Most major currencies are
A. managed against either the dollar or the euro. B. allowed by their central banks to float freely. C. pegged to the dollar. D. coordinated by their central bankers in collaboration.
Assume a corporation has 3,000 shares of $4 par common stock outstanding. The corporation declares a 28% stock dividend. At the time of declaration, the market value of their stock was $6 . What is the appropriate journal entry?
a. Debit Stock Dividends $5,040, credit Stock Dividends Distributable $5,040. b. Debit Stock Dividends $3,360, credit Stock Dividends Distributable $3,360. c. Debit Stock Dividends Distributable $3,360, debit Paid-in Capital in Excess of Par-Common Stock $1,680 and credit Stock Dividends $5,040. d. Debit Stock Dividends Distributable $3,360, credit Stock Dividends $3,360. e. Debit Stock Dividends $5,040, credit Stock Dividends Distributable $3,360 and credit Paid-in Capital in Excess of Par-Common Stock $1,680.
Which of the following best describes cross-licensing?
A) One patent holder licenses another individual to use a patented object, and in return, the patent holder is given the right to hold any patents the licensee may have. B) Two patent holders license each other to use their patents as long as both holders are allowed to license to other parties. C) Two different patent holders license a third individual to use a patented object, and that third party uses the two patents in an authorized manner. D) Two patent holders license each other to use their patents on the condition that neither licenses anyone else to use his or her patent without the other's consent.