Simpson Inc. had a balance in the Deferred Tax Liability account of $420 on December 31, 2015, resulting from depreciation temporary differences. Differences in tax and accounting depreciation for assets purchased on January 1, 2015 is as follows: YEAR FINANCIAL DEPRECIATION TAX DEPRECIATION 2015 $2,000 $3,400 2016 $2,000 2,600 2017 $2,000 1,200 2018 $2,000 800 $8,000 $8,000 In addition to the 2016 depreciation temporary difference, Simpson expensed $1,000 of warranty costs that will be deducted for tax purposes when paid in future years. Simpson’s taxable income in 2016 was $20,000. The 2016 income tax rate was 30% and no change in tax rate for future years have been enacted. REQUIRED: Prepare the income tax journal entry for Simpson Inc. for December 31, 2016.

Nichols inc. manufactures remote controls. currently the company uses a plantminuswide rate for allocating manufacturing overhead. the plant manager is considering switchingminusover to abc costing system and has asked the accounting department to identify the primary production activities and their cost drivers which are as follows: activities cost driver allocation rate material handling number of parts $5 per part assembly labor hours $20 per hour inspection time at inspection station $10 per minute the current traditional cost method allocates overhead based on direct manufacturing labor hours using a rate of $20 per labor hour. what are the indirect manufacturing costs per remote control assuming an method is used and a batch of 10 remote controls are produced? the batch requires 100 parts, 5 direct manufacturing labor hours, and 3 minutes of inspection time.

If the ceo of a large, diversified, firm were filling out a fitness report on a division manager (i.e., "grading" the manager), which of the following situations would be likely to cause the manager to receive a better grade? in all cases, assume that other things are held constant.a. the division's basic earning power ratio is above the average of other firms in its industry.b. the division's total assets turnover ratio is below the average for other firms in its industry.c. the division's debt ratio is above the average for other firms in the industry.d. the division's inventory turnover is 6, whereas the average for its competitors is 8.e. the division's dso (days' sales outstanding) is 40, whereas the average for its competitors is 30.

Peter, the marketing manager of a company that manufactures church furniture, has been given the job of increasing corporate profits by five percent during the upcoming year. peter decided to give his assistant the full responsibility and authority for developing a mailing campaign to target churches in an entire state. in other words, peter has