Homework Answers
Since part (a) of the question is already answered in the image, hence not answering again.
Part (b)
Since the deduction of $100,000 is going to be availed in next year, hence tax savings are going to be realised by Duck in 2020 only which is 21% of $100,000 = $21,000.
Present value of tax savings
= Present value discount factor (1 year) * Tax Savings
= 0.9524 *21,000
= $20,000.40 Answer
Cost of Deferral to Duck
= Current tax savings (if tax paid in 2019) - Present value of
future tax savings (if tax paid in 2020)
= 21,000 - 20,000.40
= $999.60 Answer
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Duck, an accrual basis corporation, sponsored a rock concert on December 29, 2019. Gross receipts were...
Problem 5-11 (LO. 2) Duck, an accrual basis corporation, sponsored a rock concert on December 29,...
Problem 5-11 (LO. 2) Duck, an accrual basis corporation, sponsored a rock concert on December 29, 2019. Gross receipts were $300,000. The following expenses were incurred and paid as indicated: Payment Date Expense Rental of coliseum Cost of goods sold: $25,000 December 21, 2019 Food Souvenirs 30,000 60,000 100,000 $10,000 December 30, 2019 December 30, 2019 January 5, 2020 February 1, 2020 Performers Cleaning the coliseum Because the coliseum was not scheduled to be used again until January 15, the...
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PLEASE COMPLETE THE ANSWER SAT 1.1 SAT 1.2 SAT 1.3 SAT 1.4 RBB RETAILING CORPORATION Statement...
PLEASE COMPLETE THE ANSWER
SAT 1.1
SAT 1.2
SAT 1.3
SAT 1.4
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what is total PPE, other assests, and currwnt
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PLEASE COMPLETE THE ANSWER
SAT 1.1
SAT 1.2
SAT 1.3
SAT 1.4
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