Lehman corporation purchased a machine on january 2, 2013, for $3,000,000. the machine has an estimated 5-year life with no salvage value. the straight-line method of depreciation is being used for financial statement purposes and the following macrs amounts will be deducted for tax purposes:

2013 $600,000 2016 $345,000 2014 960,000 2017 345,000 2015 576,000 2018 174,000 assuming an income tax rate of 30% for all years, the net deferred tax liability that should be reflected on lehman's balance sheet at december 31, 2014 be deferred tax liability current noncurrent a. $100,800 $7,200 b. $108,000 $0 c. $0 $108,000 d. $7,200 $100,800

Salvador county issued $25 million of 5% demand bonds for construction of a county maintenance building. the county has no take-out agreement related to the bonds. it estimates that 20% of the bonds would be demanded (called) by the buyers if interest rates increased at least 1%. at year-end rates on comparable debt were 7%. how should these demand bonds be reported in the government-wide financial statements at year-end? a) $25 million in the long-term liability section of the governmental activities column. b) $5 million in the current liability section of the governmental activities column and $20 million in the long-term liabilities section of the governmental activities column. c) $5 million in the governmental activities column and $20 million would be reported in the schedule of changes in long-term debt obligations. d) $25 million in the current liability section of the governmental activities column

What two elements normally must exist before a person can be held liable for a crime

Martha is the head of the accounts department in a small manufacturing company. the company follows the accrual-basis method of accounting. it recently purchased raw materials worth $5,000 from its vendors. however, the company paid only $3,000 to its vendors. it plans to pay the remaining amount after three months. considering this information, which entry should martha record in the company’s accounts? a. $5,000 as accounts receivable b. $3,000 as accounts payable c. $2,000 as accounts payable d. $2,000 as accounts receivable