How would these transactions be shown on a transacton sheet?
a) Investments valued at $299 matured and the proceeds deposited to cash on hand. No gain or loss was recognised on the transaction
b)Equipment costing $676 was acquired by paying $196 and financing the balance by issuing shares to the vendor .
c)term deposits included as part of investments earned interest of $216 which was recieved in full during the year
d)tax instalments of $440 were paid during the year. The tax expense determined at the end of the year was $595. The balance will be paid in the subsequent perion.
Which of the following is not an acceptable method of determining the required annual payment of federal income tax for corporations? A) 100 percent of the prior year's tax liability (with a few exceptions) B) 100 percent of the current year's tax liability C) 100 percent of the estimated current year tax liability using the annualized income method D) All of the choices are acceptable methods of determining the required annual payment of federal income tax for corporations. Explain. Explain.
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