During Its First Year of Operations,Keen Corp

question 45

Essay

During its first year of operations,Keen Corp.reported the following information:
• Income before income taxes for the year was $650,000 and the tax rate was 25%.
• Depreciation expense was $200,000 and CCA was $100,000.The carrying amount of property,plant,and equipment at the end of the year was $720,000,while UCC was $820,000.
• Warranty expense was reported at $110,000,while actual cash paid out was $60,000.
• $15,000 of expenses included in income were not deductible for tax purposes.
• No other items affected deferred tax amounts besides these transactions.
Requirement:
a.Prepare the journal entries to record income tax expense for the year.
b.Assume Keen reported a loss instead of income in its first year of operations.Explain what accounting policy choices are available to Keen to record the tax implications of the loss,and provide a recommendation.

Determine the most stable conformations of cycloalkanes and recognize the absence or presence of angle strain.

Identify the lowest energy conformations of cycloalkanes, including cyclobutane and cyclohexane configurations.

Analyze the factors contributing to the stability of chair and boat conformations of cyclohexane.

Apply knowledge of conformational analysis to name organic compounds accurately.

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Definitions:

Sympathetic Division

A part of the autonomic nervous system responsible for the body's 'fight or flight' response to stress.

Parasympathetic Division

A branch of the autonomic nervous system responsible for stimulating rest and digest activities in the body.

Physical Responses

The involuntary or voluntary reactions of the body to internal or external stimuli, such as changes in heart rate or muscular contractions.

Mouth Dry

A condition characterized by a lack of saliva in the mouth, often leading to discomfort and potentially affecting oral health.