Northern purchased the entire business of Southern including all its assets and liabilities for $600,000. Below is information related to the two companies Northern Fair value of assets $1,050,000 $800,000 575,000 Fair value of liabilities 300,000 Reported assets 800,000 650,000 Reported liabilities 500,000 250,000 Net Income for the year 50,000 60,000 How much goodwill did Northern pay for acquiring Southen?
A) $300,000.
B) $200,000
C) $150,000.
D) $100,000

Which of the following best describes how the federal reserve bank banks during a bank run? a. the federal reserve bank regulates exchanges to prevent the demand for withdrawals from rising above the required reserve ratio. b. the federal reserve bank acts as an insurance company that pays customers if their bank fails. c. the federal reserve bank has the power to take over a private bank if customers demand too many withdrawals. d. the federal reserve bank can provide a short-term loan to banks to prevent them from running out of money. 2b2t

rural residential development company and suburban real estate corporation form a joint stock company. the longest duration a joint stock company can be formed for is

Martinez company has the following two temporary differences between its income tax expense and income taxes payable. 2017 2018 2019 pretax financial income $873,000 $866,000 $947,000 (2017' 2018, 2019) excess depreciation expense on tax return (29,400 ) (39,000 ) (9,600 ) (2017' 2018, 2019) excess warranty expense in financial income 20,000 9,900 8,300 (2017' 2018, 2019) taxable income $863,600 $836,900 $945,700(2017' 2018, 2019) the income tax rate for all years is 40%. instructions: a. prepare the journal entry to record income tax expense, deferred income taxes, and income taxes payable for 2017, 2018, and 2019. b. assuming there were no temporary differences prior to 2016, indicate how deferred taxes will be reported on the 2016 balance sheet. button's warranty is for 12 months. c. prepare the income tax expense section of the income statement for 2017, beginning with the line, "pretax financial income."