At the end of 2013, its first year of operations, Slater Company reported a book value for its dependable assets of $40,000 for financial reporting purposes and $33,000 for income tax purposes.

Slater earned taxable income of $97,000 during 2013.

The company is subject to a 30% income tax rate and no change has been enacted for future years.

The depreciation was the only temporary difference between taxable income and pretax financial income.

Required:

1. Prepare Slater's income tax journal entry at the end of 2013.

2. Show how the deferred taxes would be reported on Slater's December 31, 2013, balance sheet.

You and your new australian bride matilda, are applying for a loan and are required to submit a balance sheet with your net worth. you own a 2008 toyota camry that you bought last month for $9,995. the kelly blue book value for this car is $13,995. you owe $8,150 on the car loan for the camry. you pay off your visa credit card every month and have not paid any credit card interest this year. the current visa credit card balance is $3,522, and the next statement is due in 15 days. you have a student loan balance of $6,500. you presently have $425 in your checking account and $1,540 in your savings account. you own 100 shares of ibm stock that you purchased for $85.50 per share. one share of ibm is now selling for $158.42. you own computers and other electronics that you purchased for $4,100 but could probably sell today on e-bay for $1,800. your gross income is $80,000 per year. what is your current net worth? (see wb ch. 2 example 2.3)

Aprofessional does specialized work that's primarily: degree based. medical or legal. well paying. intellectual and creative

The following transactions occur for badger biking company during the month of june: a. provide services to customers on account for $32,000. b. receive cash of $24,000 from customers in (a) above. c. purchase bike equipment by signing a note with the bank for $17,000. d. pay utilities of $3,200 for the current month. analyze each transaction and indicate the amount of increases and decreases in the accounting equation. (decreases to account classifications should be entered as a negative.)