The following facts relate to Wildhorse Corporation. 1. Deferred tax liability, January 1, 2020, $43,200.
2. Deferred tax asset, January 1, 2020, $0.
3. Taxable income for 2020, $102,600.
4. Pretax financial income for 2020, $108,000.
5. Cumulative temporary difference at December 31, 2020, giving rise to future taxable amounts, $259,200.
6. Cumulative temporary difference at December 31, 2020, giving rise to future deductible amounts, $37,800.
7. Tax rate for all years, 20%.
8. The company is expected to operate profitably in the future.

Requried:
Prepare the journal entry to record income tax expense, deferred income taxes, and income taxes payable for 2020.

Anew equipment has been proposed by engineers to increase the productivity of a certain manual welding operation. the investment cost is $25,000, and the equipment will have a market value of $5,000 at the end of a study period of five years. increased productivity attributable to the equipment will amount to $10,000 per year after operating costs have been subtracted from the revenue generated by the additional production. if marr is 10%, is investing in this equipment feasible? use annual worth method.

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

Slimwood corporation made sales of $ 725 million during 2018. of this amount, slimwood collected cash for $ 670 million. the company's cost of goods sold was $ 300 million, and all other expenses for the year totaled $ 400 million. also during 2018, slimwood paid $ 420 million for its inventory and $ 285 million for everything else. beginning cash was $ 110 million. carter's top management is interviewing you for a job and they ask two questions: (a) how much was carter's net income for 2018? (b) how much was carter's cash balance at the end of 2016? you will get the job only if you answer both questions correctly.