Ayres services acquired an asset for $104 million in 2018. the asset is depreciated for financial reporting purposes over four years on a straight-line basis (no residual value). for tax purposes the asset’s cost is depreciated by macrs. the enacted tax rate is 40%. amounts for pretax accounting income, depreciation, and taxable income in 2018, 2019, 2020, and 2021 are as follows: ($ in millions) 2018 2019 2020 2021 pretax accounting income $ 390 $ 410 $ 425 $ 460 depreciation on the income statement 26.0 26.0 26.0 26.0 depreciation on the tax return (31.0 ) (39.0 ) (21.0 ) (13.0 ) taxable income $ 385 $ 397 $ 430 $ 473 required: determine
(a) the temporary book–tax difference for the depreciable asset
(b) the balance to be reported in the deferred tax liability account.

(leave no cell blank, enter "0" wherever applicable. show all amounts as positive amounts. enter your answers in millions rounded to 1 decimal place (i. e., 5,500,000 should be entered as 5.

Maria am corporation uses the weighted-average method in its process costing system. the baking department is one of the processing departments in its strudel manufacturing facility. in june in the baking department, the cost of beginning work in process inventory was $4,880, the cost of ending work in process inventory was $1,150, and the cost added to production was $25,200. required: prepare a cost reconciliation report for the baking department for june.

In return for their with optimizing his painting project, the castle servant informed poly and digit that he saw someone dressed as the king leaving behind a trail of crumbs as he walked into the jester's room late last night. poly and digit have finally found the crisp-collecting culprit — it turns out the jester's shoe size and hair color match the clues that were found! in gratitude, poly and digit agree to the servant with his current task of replacing all of the tables and chairs in the castle. his goal is to determine which furniture company should produce the new furniture. he receives information from a company that customizes elegant furniture, and he wants to analyze the company's production process in order to calculate some problems about cost and availability. read the following scenario, and assist poly and digit as they the servant with his calculations. the fit for a king furniture company requires 2020 hours of labor to produce a standard table, and a chair requires 1212 hours of labor. the labor available is 565565 hours per week. the company can produce at most 3535 chairs per week.

Newton industries is considering a project and has developed the following estimates: unit sales = 4,800, price per unit = $67, variable cost per unit = $42, annual fixed costs = $11,900. the depreciation is $14,700 a year and the tax rate is 34 percent. what effect would an increase of $1 in the selling price have on the operating cash flow?