Arndt, Inc., reported the following for 2018 and 2019 ($ in millions):
PLEASE FILL IN THE BLANKS

1. Expenses each year include $40 million from a two-year casualty insurance policy purchased in 2018 for $80 million. The cost is tax deductible in 2018.
2. Expenses include $3 million insurance premiums each year for life insurance on key executives.
3. Arndt sells one-year subscriptions to a weekly journal. Subscription sales collected and taxable in 2018 and 2019 were $38 million and $67 million, respectively. Subscriptions included in 2018 and 2019 financial reporting revenues were $35 million ($13 million collected in 2017 but not recognized as revenue until 2018) and $43 million, respectively. Hint: View this as two temporary differences—one reversing in 2018; one originating in 2018.
4. 2018 expenses included a $29 million unrealized loss from reducing investments (classified as trading securities) to fair value. The investments were sold in 2019.
5. During 2017, accounting income included an estimated loss of $7 million from having accrued a loss contingency. The loss was paid in 2018 at which time it is tax deductible.
6. At January 1, 2018, Arndt had a deferred tax asset of $8 million and no deferred tax liability.

2. Prepare a schedule that reconciles the difference between pretax accounting income and taxable income. Using the schedule, prepare the necessary journal entry to record income taxes for 2018.

Prepare a schedule that reconciles the difference between pretax accounting income and taxable income. (Amounts to be deducted should be indicated with a minus sign. Enter your answers in millions (i.e., 10,000,000 should be entered as 10).)

Problem 16-7 Multiple differences; calculate taxable income; balance sheet classification [LO16-4, 16-6, 16-8]

Sherrod, Inc., reported pretax accounting income of $90 million for 2018. The following information relates to differences between pretax accounting income and taxable income:

1. Income from installment sales of properties included in pretax accounting income in 2018 exceeded that reported for tax purposes by $3 million. The installment receivable account at year-end had a balance of $4 million (representing portions of 2017 and 2018 installment sales), expected to be collected equally in 2019 and 2020.
2. Sherrod was assessed a penalty of $2 million by the Environmental Protection Agency for violation of a federal law in 2018. The fine is to be paid in equal amounts in 2018 and 2019.
3. Sherrod rents its operating facilities but owns one asset acquired in 2017 at a cost of $100 million. Depreciation is reported by the straight-line method assuming a four-year useful life. On the tax return, deductions for depreciation will be more than straight-line depreciation the first two years but less than straight-line depreciation the next two years ($ in millions):

4. Warranty expense of $5 million is reported in 2018. For tax purposes, the expense is deducted when costs are incurred, $3 million in 2018. At December 31, 2018, the warranty liability was $3 million (after adjusting entries). The balance was $1 million at the end of 2017.
5. In 2018, Sherrod accrued an expense and related liability for estimated paid future absences of $10 million relating to the company’s new paid vacation program. Future compensation will be deductible on the tax return when actually paid during the next two years ($7 million in 2019; $3 million in 2020).
6. During 2017, accounting income included an estimated loss of $4 million from having accrued a loss contingency. The loss is paid in 2018 at which time it is tax deductible.

Balances in the deferred tax asset and deferred tax liability accounts at January 1, 2018, were $2.0 million and $3.6 million, respectively. The enacted tax rate is 40% each year.

Required:
1. Determine the amounts necessary to record income taxes for 2018 and prepare the appropriate journal entry.
2. What is the 2018 net income?
3. Show how any deferred tax amounts should be classified and reported in the 2018 balance sheet.

You will receive $12000 over the next 4 years. You can expect a 12% interest rate. You will receive $6000 in year 1 and your amount will decrease by $2000 each year. What is the present value of your money?

We wish to know if we can conclude that the mean daily caloric intake in the adult rural population of

a developing country is less than 2000. A sample of 500 had a mean of 1985 and a standard deviation

of 210. Let alpha = .05

We wish to know if we can conclude that the mean daily caloric intake in the adult rural population of

a developing country is less than 2000. A sample of 500 had a mean of 1985 and a standard deviation

of 210. Let alpha = .05

2- Find world data for total installed electrical generating capacity data and installed wind generation capacity for years between 2000 and the most recent year for which data are available. What are the actual annual growth rates for this period?

2000 word essay. In what way does economic theory have real-world consequences? Using contemporary examples, show how assumption-making in theory (realistic or otherwise) is shaping government policies, business practices and human behaviour.

The dot-com bubble from 1994 to 2000, and the subsequent dot-com crash

A sports car of mass 1000 kg can accelerate from rest to 72. km/h in 6.6 s.
a) What would the average force of the car's engine be?
b) If the same force acts on 2000 kg car what is the acceleration.