Hayes company reported the following pretax financial income for the years 2016 to 2019. for each of those years, the company reported (and paid taxes on) taxable income in the same amount as follows2016 $480,0002017 700,0002018 180,0002019 (1,100,000)2020 360,000the company was subject to a 34% tax rate for 2017and prior and 40% for 2018 and thereafter. assume the company will elect to carryback first before carrying forward any nol. because of the significant losses in 2019, assume that based on evaluating the evidence the company believes that it is more likely than not at the end of 2019 that 20% of the tax benefits of the operating loss carryforward will not be realized. instructions: 1.prepare the income tax journal entries at the end of 2019.2. prepare the 2019 income statement beginning with income/loss before income taxes.

An insurance company estimates the probability of an earthquake in the next year to be 0.0015. the average damage done to a house by an earthquake it estimates to be $90,000. if the company offers earthquake insurance for $150, what is company`s expected value of the policy? hint: think, is it profitable for the insurance company or not? will they gain (positive expected value) or lose (negative expected value)? if the expected value is negative, remember to show "-" sign. no "+" sign needed for the positive expected value

Sales at a fast-food restaurant average $6,000 per day. the restaurant decided to introduce an advertising campaign to increase daily sales. to determine the effectiveness of the advertising campaign, a sample of 49 days of sales were taken. they found that the average daily sales were $6,300 per day. from past history, the restaurant knew that its population standard deviation is about $1,000. if the level of significance is 0.01, have sales increased as a result of the advertising campaign? multiple choicea)fail to reject the null hypothesis. b)reject the null hypothesis and conclude the mean is higher than $6,000 per day. c)reject the null hypothesis and conclude the mean is lower than $6,000 per day. d)reject the null hypothesis and conclude that the mean is equal to $6,000 per day. expert answer

Activity-based costing (abc) is not truly a cost collection mechanism as much as it is an inventory valuation method. the main purpose for implementing an activity-based cost system is to try to overcome some of the cost distortions that occur in traditional costing from product differences when there are variations in size and complexity. however, one of the disadvantages of utilizing abc is that the additional information gathering necessary to implement costing with that level of detail might be beyond the reach of some companies with resource or financial constraints. with this in mind, what kinds of industries or companies do you think would benefit most from using activity-based costing and why? in designing or modifying an accounting system to capture appropriate costs for abc, what considerations do you think would need to be made?