Kenneth McDowell Co. establishes a $134,000,000 liability at the end of 2020 for the estimated site-cleanup costs at two of its manufacturing facilities. All related closing costs will be paid and deducted on the tax return in 2021. Also, at the end of 2020, the company has $67,000,000 of temporary differences due to excess depreciation for tax purposes, $9,380,000 of which will reverse in 2021. The enacted tax rate for all years is 20%, and the company pays taxes of $42,880,000 on $214,400,000 of taxable income in 2020. McDowell expects to have taxable income in 2021. a.) Determine the deferred taxes to be reported at the end of 2020.
b.) Indicate how the deferred taxes computed in (a) are to be reported on the balance sheet.
c.) Assuming that the only deferred tax account at the beginning of 2020 was a deferred tax liability of $10,000,000, draft the income tax expense portion of the income statement for 2020, beginning with the line "Inconme before income taxes." (Hint: you must first compute (1) the amount of temporary difference underlying the beginning $10,000,000 deferred tax liability, then (2) the amount of temporary differences originating or reversing during the year, and then (3) the amount of pretax financial income.)

White company has two departments, cutting and finishing. the company uses a job-order costing system and computes a predetermined overhead rate in each department. the cutting department bases its rate on machine-hours, and the finishing department bases its rate on direct labor-hours. at the beginning of the year, the company made the following estimates: department cutting finishing direct labor-hours 6,000 30,000 machine-hours 48,000 5,000 total fixed manufacturing overhead cost $ 264,000 $ 366,000 variable manufacturing overhead per machine-hour $ 2.00 " variable manufacturing overhead per direct labor-hour " $ 4.00 required: 1. compute the predetermined overhead rate for each department. 2. the job cost sheet for job 203, which was started and completed during the year, showed the following: department cutting finishing direct labor-hours 6 20 machine-hours 80 4 direct materials $ 500 $ 310 direct labor cost $ 108 $ 360 using the predetermined overhead rates that you computed in requirement (1), compute the total manufacturing cost assigned to job 203. 3. would you expect substantially different amounts of overhead cost to be assigned to some jobs if the company used a plantwide predetermined overhead rate based on direct labor-hours, rather than using departmental rates?

Mcdonald's fast-food restaurants have a well-designed training program for all new employees. each new employee is supposed to learn how to perform standardized tasks required to maintain mcdonald's service quality. due to labor shortages in some areas, new employees begin work as soon as they are hired and do not receive any off-the-job training. this nonconformity to standards creates

Buyer henry is going to accept seller shannon's $282,500 counteroffer. when will this counteroffer become a contract. a. counteroffers cannot become contracts b. when henry gives shannon notice of the acceptance c. when henry signs the counteroffer d. when shannon first made the counteroffer