Airparts corporation reported an operating loss of $25 million for financial reporting and tax purposes. taxable income last year and the previous year, respectively, was $20 million and $15 million. the enacted tax rate each year is 40%.a. prepare the journal entry to recognize the income tax benefit of the operating loss. airparts elects the carryback option.

match the scenarios with terms related to financial aid.

pell grant

student loan

merit-based scholarship

richard is one of the leading college basketball players in the state of florida. he also maintains a good academic record. looking at his talent and potential, furman university offers to bear the expenses for his college education.

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anita wants to pursue a certificate program in sports nutrition. to pay for the course, she borrows money by filing the fafsa.

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nathan comes from a low-income household. he wants to pursue an undergraduate degree in marketing. he receives financial aid covering 50 percent of his college expenses. nathan does not have to pay back this amount.

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