Coronado Corporation has pretax financial income (or loss) from 2015 through 2021 as follows. Income (Loss) Tax Rate
2015 $63,360 25%
2016 (92,400 ) 20%
2017 118,800 20%
2018 39,600 20%
2019 138,600 20%
2020 (79,200 ) 25%
2021 168,400 25%

Pretax financial income (loss) and taxable income (loss) were the same for all years since Coronado has been in business. In recording the benefits of a loss carryforward, assume that it is more likely than not that the related benefits will be realized.

Required:
a. What entries for income taxes should be recorded for 2017?
b. Indicate what the income tax expense portion of the income statement for 2016 should look like. Assume all income (loss) relates to continuing operations.
c. What entry for income taxes should be recorded in 2020?
d. How should the income tax expense section of the income statement for 2019 appear?
e. What entry for income taxes should be recorded in 2019?

James albemarle created a trust fund at the beginning of 2016. the income from this fund will go to his son edward. when edward reaches the age of 25, the principal of the fund will be conveyed to united charities of cleveland. mr. albemarle specified that 75 percent of trustee fees are to be paid from principal. terry jones, cpa, is the trustee. james albemarle transferred cash of $500,000, stocks worth $400,000, and rental property valued at $250,000 to the trustee of this fund. immediately invested cash of $360,000 in bonds issued by the u.s. government. commissions of $7,900 are paid on this transaction. incurred permanent repairs of $9,000 so that the property can be rented. payment is made immediately. received dividends of $8,000. of this amount, $3,000 had been declared prior to the creation of the trust fund. paid insurance expense of $4,000 on the rental property. received rental income of $10,000. paid $8,000 from the trust for trustee services rendered. conveyed cash of $7,000 to edward albemarle.

Spartan credit bank is offering 7.5 percent compounded daily on its savings accounts. you deposit $5,900 today. a. how much will you have in the account in 4 years? (use 365 days a year. do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) b. how much will you have in the account in 12 years? (use 365 days a year. do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) c. how much will you have in the account in 19 years?

Suppose rebecca needs a dog sitter so that she can travel to her sister’s wedding. rebecca values dog sitting for the weekend at $200. susan is willing to dog sit for rebecca so long as she receives at least $175. rebecca and susan agree on a price of $185. suppose the government imposes a tax of $30 on dog sitting. the tax has made rebecca and susan worse off by a total of