At the end of 2019, Pharoah Company has $175,800 of cumulative temporary differences that will result in reporting the following future taxable amounts.

2020

$59,900
2021

49,400
2022

38,000
2023

28,500

$175,800

Tax rates enacted as of the beginning of 2018 are:

2018 and 2019

40
%
2020 and 2021

30
%
2022 and later

25
%

Pharoah’s taxable income for 2019 is $305,100. Taxable income is expected in all future years.

(a) Prepare the journal entry for Pharoah to record income taxes payable, deferred income taxes, and income tax expense for 2019, assuming that there were no deferred taxes at the end of 2018. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)

Jimmy owns an ice cream parlor. he designs a schedule for the different tasks the employees have to perform in order to prevent monotony at work. according to the schedule, if an employee makes waffle cones on a day, he serves ice creams the next day and clears the tables on the day after that. jimmy is using the approach at his ice cream parlor.

You are chairman of the board of a successful technology firm. there is a nominal federal corporate tax rate of 35 percent, yet the effective tax rate of the typical corporation is about 12.6%. your firm has been clever with use of transfer pricing and keeping money abroad and has barely paid any taxes over the last 5 years; during this same time period, profits were $28 billion. one member of the board feels that it is un-american to use various accounting strategies in order to avoid paying taxes. others feel that these are legal loopholes and corporations have a fiduciary responsibility to minimize taxes. one board member quoted what the ceo of exxon once said: “i’m not a u.s. company and i don’t make decisions based on what’s good for the u.s.” what are the alternatives? what are your recommendations? why do you recommend this course of action?

Each row in a database is a set of unique information called a(n) table. record. object. field.