Grand Corporation reported pretax book income of $639,000. Tax depreciation exceeded b lepreciation by $426,000. In addition, the company received $319,500 of tax-exempt munic nterest. The company's prior-year tax return showed taxable income of $53,250. Compute t company's current income tax expense or benefit. (Leave no answer blank. Enter N/A or ze

Q: OCF analysis

A: Operating Cashflow Analysis  = Net Income + Depreciation and Amortization- Net Working capital

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A: Step 1 Journal is the part of book keeping.

Q: Describe about the LIFO and FIFO method.

A:

Q: Define value chain.

A: Value Chain: Value Chain is the combination of activities including all the costs to do such…

Q: What is an ERP system?

A: Enterprise Resource Planning (ERP) System: Enterprise Resource Planning System refers to a…

Q: Describe WACC and its components.

A: WACC: The weighted average cost of capital (WACC) is a computation of   cost of capitalof a company…

Q: Explain NAREIT Index?

A: NAREIT Index Rate: It implies the compound dividend yield which is communicated as far as a yearly…

Q: What is data mining?

A:

Q: Explain an example of internal users.

A: Accounting: Accounting is a system, or a process of collecting and organizing economic transactions,…

Q: Define TED spread

A: The term TED spread stands for Treasury Euro Dollar Spread. It can be defined as the credit…

Q: Cullumber uses the conventional retail method to determine its ending inventory at cost. Assume the…

A: Cost to retail ratio = (Merchandise available for sale at cost / Merchandise available for sale at…

Q: What is information overload?

A: Report: The formal document used for providing information to the managers is called report. The…

Deferred Tax

Deferred tax is an estimated future tax which is made while preparing accounts. It is estimated as a result of past and present transactions in the financial statements. It is not the actual tax which needs to be paid or refundable from the revenue authority, it is an accounting entry. It exists because of the difference between accounting profits and taxable profits.