Suppose that the income tax rate is 16% and income tax liability for the current...
80.2K
Verified Solution
Link Copied!
Question
Accounting
Suppose that the income tax rate is 16% and income tax liability for the current year is 10400. The sales revenue is a. $77,200 b. $65,000 c. $10,400 d. $75,400 Assume that on 1 January 2017 X has a patent (limited life) on how to extract oil from shale rock. The expected future net cash flows from this patent 7500000 and the carrying amount $50000000. The fair value of its patent to be $20000000. The loss on impairment is a. 20000000 b. 30000000 c. No impairment loss d. 50000000 Clear my choice On 1 January 2020, X company borrowed 4-year $10000 zero-interest bearing notes from Arab bank. The interest is payable on December 31. The implicit interest rate is 0.08. X will received a. $7350 b. $7722 c. $7034 d. $8234 Clear my choice
Suppose that the income tax rate is 16% and income tax liability for the current year is 10400. The sales revenue is
a.
$77,200
b.
$65,000
c.
$10,400
d.
$75,400
Assume that on 1 January 2017 X has a patent (limited life) on how to extract oil from shale rock. The expected future net cash flows from this patent 7500000 and the carrying amount $50000000. The fair value of its patent to be $20000000. The loss on impairment is
a.
20000000
b.
30000000
c.
No impairment loss
d.
50000000
Clear my choice
On 1 January 2020, X company borrowed 4-year $10000 zero-interest bearing notes from Arab bank. The interest is payable on December 31. The implicit interest rate is 0.08. X will received
a.
$7350
b.
$7722
c.
$7034
d.
$8234
Clear my choice
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
- Unlimited Question Access with detailed Answers
- Zin AI - 3 Million Words
- 10 Dall-E 3 Images
- 20 Plot Generations
- Conversation with Dialogue Memory
- No Ads, Ever!
- Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Other questions asked by students
StudyZin's Question Purchase
1 Answer
$0.99
(Save $1 )
One time Pay
- No Ads
- Answer to 1 Question
- Get free Zin AI - 50 Thousand Words per Month
Best
Unlimited
$4.99*
(Save $5 )
Billed Monthly
- No Ads
- Answers to Unlimited Questions
- Get free Zin AI - 3 Million Words per Month
*First month only
Free
$0
- Get this answer for free!
- Sign up now to unlock the answer instantly
You can see the logs in the Dashboard.