Allied Corp. has a deferred tax asset balance of $130,000 on December 31, 2020, due to a temporary difference related to a warranty expense accrual that is not deductible for tax purposes. The deferred tax asset balance has increased $26,000 over the prior year ending balance of $104,000. Taxable income for 2020 is $546,000 and the tax rate is 25%. There is a $31,200 beginning balance in the valuation allowance. Required:
a. Record the income tax journal entry on December 31, 2020, assuming that it is more likely than not that the deferred tax asset will be realized
b. Record the income tax journal entries on December 31, 2020, assuming that it is more likely than not that only 60% of the deferred tax asset will be realized.

Assume today is december 31, 2013. barrington industries expects that its 2014 after-tax operating income [ebit(1 – t)] will be $400 million and its 2014 depreciation expense will be $70 million. barrington's 2014 gross capital expenditures are expected to be $120 million and the change in its net operating working capital for 2014 will be $25 million. the firm's free cash flow is expected to grow at a constant rate of 4.5% annually. assume that its free cash flow occurs at the end of each year. the firm's weighted average cost of capital is 8.6%; the market value of the company's debt is $2.15 billion; and the company has 180 million shares of common stock outstanding. the firm has no preferred stock on its balance sheet and has no plans to use it for future capital budgeting projects. using the corporate valuation model, what should be the company's stock price today (december 31, 2013)? round your answer to the nearest cent. do not round intermediate calculations.

You are head of the schwartz family endowment for the arts. you have decided to fund an arts school in the san francisco bay area in perpetuity. every 5 years, you will give the school $ 1 comma 000 comma 000. the first payment will occur 5 years from today. if the interest rate is 5.9 % per year, what is the present value of your gift?

Describe the three different ways the argument section of a cover letter can be formatted