On your review of the books and records of Ridge Corporation, you note the following information pertaining
Question:
Net income per books.............. $525,400
Book income tax expense........... 234,600
Dividends received deduction ........... 70,000
Capital gains ................ 50,000
Capital losses .................. (60,000)
MACRS depreciation.............. 80,000
Book depreciation.............. 65,000
a. Calculate Ridge’s taxable income and Federal income tax liability for the year.
b. Calculate Ridge’s deferred income tax liability.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 70% (10 reviews)
a Book income before income tax expense 525400 234600 760000 Permanent ...View the full answer
Answered By
Ashington Waweru
I am a lecturer, research writer and also a qualified financial analyst and accountant. I am qualified and articulate in many disciplines including English, Accounting, Finance, Quantitative spreadsheet analysis, Economics, and Statistics. I am an expert with sixteen years of experience in online industry-related work. I have a master's in business administration and a bachelor’s degree in education, accounting, and economics options.
I am a writer and proofreading expert with sixteen years of experience in online writing, proofreading, and text editing. I have vast knowledge and experience in writing techniques and styles such as APA, ASA, MLA, Chicago, Turabian, IEEE, and many others.
I am also an online blogger and research writer with sixteen years of writing and proofreading articles and reports. I have written many scripts and articles for blogs, and I also specialize in search engine
I have sixteen years of experience in Excel data entry, Excel data analysis, R-studio quantitative analysis, SPSS quantitative analysis, research writing, and proofreading articles and reports. I will deliver the highest quality online and offline Excel, R, SPSS, and other spreadsheet solutions within your operational deadlines. I have also compiled many original Excel quantitative and text spreadsheets which solve client’s problems in my research writing career.
I have extensive enterprise resource planning accounting, financial modeling, financial reporting, and company analysis: customer relationship management, enterprise resource planning, financial accounting projects, and corporate finance.
I am articulate in psychology, engineering, nursing, counseling, project management, accounting, finance, quantitative spreadsheet analysis, statistical and economic analysis, among many other industry fields and academic disciplines. I work to solve problems and provide accurate and credible solutions and research reports in all industries in the global economy.
I have taught and conducted masters and Ph.D. thesis research for specialists in Quantitative finance, Financial Accounting, Actuarial science, Macroeconomics, Microeconomics, Risk Management, Managerial Economics, Engineering Economics, Financial economics, Taxation and many other disciplines including water engineering, psychology, e-commerce, mechanical engineering, leadership and many others.
I have developed many courses on online websites like Teachable and Thinkific. I also developed an accounting reporting automation software project for Utafiti sacco located at ILRI Uthiru Kenya when I was working there in year 2001.
I am a mature, self-motivated worker who delivers high-quality, on-time reports which solve client’s problems accurately.
I have written many academic and professional industry research papers and tutored many clients from college to university undergraduate, master's and Ph.D. students, and corporate professionals. I anticipate your hiring me.
I know I will deliver the highest quality work you will find anywhere to award me your project work. Please note that I am looking for a long-term work relationship with you. I look forward to you delivering the best service to you.
3.00+
2+ Reviews
10+ Question Solved
Related Book For
South Western Federal Taxation 2018 Essentials Of Taxation Individuals And Business Entities
ISBN: 9781337386173
21st Edition
Authors: William A. Raabe, James C. Young, Annette Nellen, David M. Maloney
Question Posted:
Students also viewed these Business Law questions
-
The following information was taken from the books and records of Ludwick, Inc.: 1. Net Income ......................... $418,000 2. Capital Structure a. Convertible 6% bonds. Each of the 350, $1,000...
-
3. (25 pts.) As an extension of #2, consider tropolone (1 below). Tropolone is a compound that can act as an acid by donating a proton (H+) via attack by generic base B- (path 1) to form anion 2....
-
You are currently completing your review of the audit work papers prepared by Ashley and Vivienne documenting the results of their audit testing. The following material summarises your review of the...
-
Explain how teacher knowledge of context impacts the development of meaningful learning and teaching for any particular group of young children. Cite at least three relevant sources from the...
-
Suppose that the world price for steel is below the U.S. domestic price, but the government requires that all steel used in the United States be domestically produced. a. Use a diagram like the one...
-
The income statement of Peters Pest Control for the month of August 2016 shows a profit of $6800 based on: Services revenue $15200 Wages expense 6400 Supplies expense 1100 Electricity expense 900 In...
-
Draw a Graph for Income vs College! The New York Times created an interesting interactive graph on income versus percent of children who attend college. They ask you to first draw what you think the...
-
Leisure is an inferior good for Horace. a. Use indifference curves to show the income and substitution effects of an increase in Horaces wage rate. b. Could Horaces labor supply curve be...
-
(30 Points) Consider the network in Figure-4 and Calculate the node-betweenness of node B and F. E F B Figure 4 C D
-
Frontenac Company reported net income of $75,000. The partnership agreement provides for salaries of $25,000 to Miley and $18,000 to Guthrie. They divide the remainder 40% to Miley and 60% to...
-
Charles is planning to invest $10,000 in a venture whose management is undecided as to whether it should be structured as a regular corporation or as a partnership. Charles will hold a 10% interest...
-
At the start of the current year, Blue Corporation (a calendar year taxpayer) holds accumulated E & P of $100,000. Blues current E & P is $60,000. At the end of the year, it distributes $200,000...
-
A connected graph is shown. Identify any bridges in each graph. A OF
-
What is voice and why should organizations encourage it?
-
How do the moderating variables influence outcomes in the Job Characteristics Model?
-
How can organizations improve communication?
-
Last year, George was preparing for his mothers first visit to Canada. George had immigrated to Canada from Haiti six years earlier. His dream was for his mother to come to Canada to meet his new...
-
Discuss the connection between environment, structure, and effectiveness.
-
Complete the following formulae: (a) Profit for the year + revenue expenses = ? (b) Gross profit revenue expenses = ? (c) Gross profit profit for the year = ?
-
A circular concrete shaft liner with Youngs modulus of 3.4 million psi, Poissons ratio of 0.25, unconfined compressive strength 3,500 psi and tensile strength 350 psi is loaded to the verge of...
-
Stock in Jaybird Corporation (555 Industry Lane, Pueblo, CO 81001) is held equally by Vera, Wade, and Wes. Jaybird seeks additional capital in the amount of $900,000 to construct a building. Vera,...
-
Stock in Jaybird Corporation (555 Industry Lane, Pueblo, CO 81001) is held equally by Vera, Wade, and Wes. Jaybird seeks additional capital in the amount of $900,000 to construct a building. Vera,...
-
Three years ago and at a cost of $40,000, Paul Sanders acquired stock in a corporation that qualified as a small business corporation under 1244. A few months after he acquired the stock, when it...
-
10. Create the following row vector A where it has 18 elements (1 to 18). 1 4 7 10 13 16. 11 14 17 a. Use the reshape function to obtain B: == 2 5 8 3 6 9 12 15 18 b. Create a 7 element row vector...
-
7) Use Matlab codes to create two different vectors to separately store the numerators and denominators of the following sequence of 50 fractional numbers: 1/3, 2/5, 3/7, 4/9, 5/11, 6/13, ......,...
-
US exports to China have been rapidly increasing but not fast enough to offset the imports from China. This means that the United States has a/an? Give answer and explain.
Study smarter with the SolutionInn App