Evergreen Corporation (calendar-year-end) acquired the following assets during the current year: Asset Date Placed in Service Original Basis
Machinery October 25 $70,000
Computer equipment February 3 10,000
Used delivery truck- August 17 23,000
Furniture April 22 150,000

The delivery truck is not a luxury automobile.

a. What is the allowable MACRS depreciation on Evergreen's property in the current year assuming Evergreen does not elect $179 expense and elects out of bonus depreciation?
b. What would be the allowable MACRS depreciation on Evergreen's property in the current year if Evergreen does not elect out of bonus depreciation?

Acompany's income statement showed the following: net income, $145,000 and depreciation expense, $36,300. an examination of the company's current assets and current liabilities showed the following changes as a result of operating activities: accounts receivable decreased $11,500; merchandise inventory increased $22,200; and accounts payable increased $5,500. calculate the net cash provided or used by operating activities. $209,500 $139,000 $176,100 $186,500 $142,100

Which of the following is least likely to a team solve problems together

Martinez company has the following two temporary differences between its income tax expense and income taxes payable. 2017 2018 2019 pretax financial income $873,000 $866,000 $947,000 (2017' 2018, 2019) excess depreciation expense on tax return (29,400 ) (39,000 ) (9,600 ) (2017' 2018, 2019) excess warranty expense in financial income 20,000 9,900 8,300 (2017' 2018, 2019) taxable income $863,600 $836,900 $945,700(2017' 2018, 2019) the income tax rate for all years is 40%. instructions: a. prepare the journal entry to record income tax expense, deferred income taxes, and income taxes payable for 2017, 2018, and 2019. b. assuming there were no temporary differences prior to 2016, indicate how deferred taxes will be reported on the 2016 balance sheet. button's warranty is for 12 months. c. prepare the income tax expense section of the income statement for 2017, beginning with the line, "pretax financial income."