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When a long-term note is given in exchange for equipment, the amount considered as paid...

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Accounting

When a long-term note is given in exchange for equipment, the amount considered as paid
for the machine is the:
Multiple Choice
a) Present value of cash outflows discounted at the stated rate.
b) Wholesale price.
c) Present value of the note payments discounted at the market rate.
d) Invoice price.
The process of assigning the cost of postretirement benefits to the years during which those
benefits are assumed to be earned by employees is called:
Multiple Choice
a) Restitution.
b) Retribution.
c) Attribution.
d) Assignation.
Information for Kent Corporation for the year 2024:
Reconciliation of pretax accounting income and taxable income:
Pretax accounting income $180,000
Permanent differences (15,000)?
,165,000
\table[[Temporary difference-depreciation(12,000),],[Taxable income,$153,000]]
Cumulative future taxable amounts all from depreciation temporary differences:
As of December 31,2023
As of December 31,2024
$25,000
The enacted tax rate was 25% for 2023 and thereafter.
What would Kent's income tax expense be in the year 2024?
Multiple Choice
a) $35,250
b) $38,250
c) $41,250
d) None of these answer choices are correct.
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