Refer to the balance sheet information below for Home Depot. Feb. 3, 2019 Jan. 28, 2018 $35,891 $34,794 1,511 $37,402 $14,177 24,822 $38,999 Operating assets Nonoperating assets Total assets Operating liabilities Nonoperating liabilities Total liabilities Net sales Operating expense before tax Net operating profit before tax (NOPBT) Other expense Income before tax Tax expense Net income $ millions Net income $ Assume a statutory tax rate of 22%. a. Compute NOPAT for the year ended Feb. 3, 2019 using the formula: NOPAT = Net income + NNE NNE NOPAT $ 9,453 $ 7,361 * $ 7,361 * $ $91,973 78,772 13,201 828 12,373 2,920 $9,453 3,056 $37,850 $13,640 22,974 $36,614 b. Compute NOPAT for the year ended Feb. 3, 2019 using the formula: NOPAT = NOPBT - Tax on operating profit NOPBT Tax on operating profit NOPAT 10,296.78 x $ 16814 -2936

How much is the restated balance of AMSTERDAM's retained earnings account at January 1, 2021?

Do parts a to d Accounting for Income Taxes    Yoda Company is in the process of accounting for its income taxes for the year ended December 31, 2020. The following information came from Yoda's accounting and taxation records:   Accounting income before income taxes for 2020 $              98,967 Depreciation expense for property, plant, and equipment for 2020 $            222,227 Capital cost allowance to be claimed on Yoda's 2020 income tax return $            244,450 Book value of property, plant, and equipment at December 31, 2019 $         1,399,268 Undepreciated capital cost of property, plant, and equipment at December 31, 2019 $         1,203,370   Assume that there were no additions or disposals of property, plant, and equipment during 2020.   In 2020, Yoda began offering a 1-year warranty on all merchandise sold. Following are details pertaining to this warranty: Warranty expense for 2020 for accounting purposes $            38,860…

Please answer in good accounting form. Thankyou

The following balances were taken from the books of Skysong Corp. on December 31, 2025. Interest revenue Cash Sales revenue Accounts receivable Prepaid insurance Sales returns and allowances Allowance for doubtful accounts Sales discounts Land Equipment Buildings Cost of goods sold $87,250 52,250 1,381,250 151,250 21,250 151,250 8,250 46,250 101,250 201,250 141,250 622,250 Assume the total effective tax rate on all items is 20%. Accumulated depreciation-equipment Accumulated depreciation-buildings Notes receivable Selling expenses Accounts payable Bonds payable Administrative and general expenses Accrued liabilities Interest expense Notes payable Loss from earthquake damage Common stock Retained earnings $41,250 29,250 156,250 195,250 171,250 101,250 98,250 33,250 61,250 101,250 151,250 501,250 22,250 Prepare a multiple-step income statement; 100,000 shares of common stock were outstanding during the year. (Round earnings per

The following information has been obtained for Sheridan Corporation. 1. Prior to 2020, taxable income and pretax financial income were identical. 2. Pretax financial income is $1,634,000 in 2020 and $1,359,000 in 2021. On January 1, 2020, equipment costing $1,260,000 is purchased. It is to be depreciated on a straight-line basis over 5 years for tax purposes and over 8 years for financial reporting purposes. (Hint: Use the half-year convention for tax purposes, as discussed in Appendix 11A.) 3. 4. Interest of $57,000 was earned on tax-exempt municipal obligations in 2021. 5. Included in 2021 pretax financial income is a gain on discontinued operations of $195,000, which is fully taxable. 6. The tax rate is 20% for all periods. 7. Taxable income is expected in all future years.

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302. Subject : - finance

Bonita Inc. reports the following pretax income (loss) for both book and tax purposes. Pretax Year Income (Loss) Tax Rate 2018 $124,000 20 % 2019 86,000 20 % 2020 (89,000 ) 25 % 2021 126,000 25 % The tax rates listed were all enacted by the beginning of 2018. Prepare the journal entries for years 2018-2021 to record income tax expense (benefit) and income taxes payable, and the tax effects of the loss carryforward, assuming that based on the weight of available evidence, it is more likely than not that one-half of the benefits of the loss carryforward will not be realized. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)

Which cost flow assumption generally results in the highest reported amount for ending inventory when inventory costs are rising? Explain.