At the end of the year, the deferred tax asset account had a balance of $12.8 million attributable to a cumulative temporary difference of $32 million in a liability for estimated expenses. taxable income is $38.0 million. no temporary differences existed at the beginning of the year, and the tax rate is 40%.prepare the journal entry(s) to record income taxes assuming it is more likely than not that one-fourth of the deferred tax asset will not ultimately be realized. note: these are the correct entries, i am just missing the values (dta is not zero): debit: income tax expense deferred tax asset : income tax payable 15.2debit: income tax expense : valuation allowance - deferred tax asset

Lincoln company has an accounting policy for internal reporting purposes whereby the costs of any research and development projects that are over 70 percent likely to succeed are capitalized and then depreciated over a five-year period with a full year of depreciation in the year of capitalization. in the current year, $400,000 was spent on project one, and it was 55 percent likely to succeed, $600,000 was spent on project two, and it was 65 percent likely to succeed, and $900,000 was spent on project three, and it was 75 percent likely to succeed. in converting the internal financial statements to external financial statements, by how much will net income for the current year have to be reduced? a. $180,000b. $380,000c. $720,000d. $900,000

How does having a flexible mind you become a better employee? a. it you become more honest toward work. b. it you become a team player. c. it you learn new things that will better your performance. d. it you to finish your work on time. e. it you reach work on time

Suppose that real interest rates increase across europe. this development will u. s. net capital outflow at all u. s. real interest rates. this causes the loanable funds to because net capital outflow is a component of that curve.