Typical Corp. reported a deferred tax liability of $3,750,000 for the year ended December 31, 2020, when the tax rate was 25%. The deferred tax liability was related to a temporary difference of $15,000,000 caused by an installment sale in 2020. The temporary difference is expected to reverse in 2022 when the income deferred from taxation will become taxable. There are no other temporary differences. Assume a new tax law passed in 2021 and the tax rate, which will remain at 25% through December 31, 2021, will become 30% for tax years beginning after December 31, 2021. Pretax accounting income and taxable income for the year 2021 is $30,000,000. Required: Prepare a compound journal entry to record Typical's income tax expense for the year 2021.

Being an expert problem solver is something you're either born with or not. true or false

Ms. sophia jones, the company president, has heard that there are multiple breakeven points for every product. she does not believe this and has asked you to provide the evidence of such a possibility. some information about the company for 2017 is as follows:

1. all other things equal, according to the law of demand, when the price of a good falls, the demand for the good falls the demand for the good rises the quantity demanded of the good falls the quantity demanded of the good rises 2. when a market is in equilibrium, the quantity of the good that buyers are willing and able to buy exactly equals the quantity that sellers are willing and able to sell cannot be determined is less than the quantity that sellers are willing and able to sell is greater than the quantity that sellers are willing and able to sell 3. which of the following factors does not influence the demand for a good or service? consumer (buyer) income the price of related goods the number of sellers buyer expectations 4. when the number of sellers in a market increases, demand rises supply rises the price rises, all else equal the number of buyers falls