Case Development began operations in December 2021. When property is sold on an installment basis, Case recognizes installment income for financial reporting purposes in the year of the sale. For tax purposes, installment income is reported by the installment method. 2021 installment income was $636,000 and will be collected over the next three years. Scheduled collections and enacted tax rates for 2022–2024 are as follows: 2022 $ 160,000 20 % 2023 268,000 25 2024 208,000 25 Case also had product warranty costs of $114,000 expensed for financial reporting purposes in 2021. For tax purposes, only the $28,000 of warranty costs actually paid in 2021 was deducted. The remaining $86,000 will be deducted for tax purposes when paid over the next three years as follows: 2022 $ 30,000 2023 32,000 2024 24,000 Pretax accounting income for 2021 was $842,000, which includes interest revenue of $12,000 from municipal bonds. The enacted tax rate for 2021 is 20%. Required:

1. Assuming no differences between accounting income and taxable income other than those described above, prepare the appropriate journal entry to record Case’s 2021 income taxes.

2. What is Case’s 2021 net income?

Case Development began operations in December 2018. When property is sold on an installment basis, Case recognizes installment income for financial reporting purposes in the year of the sale. For tax purposes, installment income is reported by the installment method. 2018 installment income was $680,000 and will be collected over the next three years. Scheduled collections and enacted tax rates for 2019–2021 are as follows:

Case also had product warranty costs of $88,000 expensed for financial reporting purposes in 2018. For tax purposes, only the $24,000 of warranty costs actually paid in 2018 was deducted. The remaining $64,000 will be deducted for tax purposes when paid over the next three years as follows:

Pretax accounting income for 2018 was $930,000, which includes interest revenue of $18,000 from municipal bonds. The enacted tax rate for 2018 is 30%.

Required:
1. Assuming no differences between accounting income and taxable income other than those described above, prepare the appropriate journal entry to record Case’s 2018 income taxes.
2. What is Case’s 2018 net income?

Case Development began operations in December 2021. When property is sold on an installment basis, Case recognizes installment income for financial reporting purposes in the year of the sale. For tax purposes, installment income is reported by the installment method. 2021 installment income was $906,000 and will be collected over the next three years. Scheduled collections and enacted tax rates for 2022–2024 are as follows:

Case also had product warranty costs of $369,000 expensed for financial reporting purposes in 2021. For tax purposes, only the $88,000 of warranty costs actually paid in 2021 was deducted. The remaining $281,000 will be deducted for tax purposes when paid over the next three years as follows:

Pretax accounting income for 2021 was $1,027,000, which includes interest revenue of $27,000 from municipal bonds. The enacted tax rate for 2021 is 20%.

Required:
1. Assuming no differences between accounting income and taxable income other than those described above, prepare the appropriate journal entry to record Case’s 2021 income taxes.
2. What is Case’s 2021 net income?

Case Development began operations in December 2018. When property is sold on an installment basis, Case recognizes installment income for financial reporting purposes in the year of the sale. For tax purposes, installment income is reported by the installment method. 2018 installment income was $620,000 and will be collected over the next three years. Scheduled collections and enacted tax rates for 2019–2021 are as follows:

Case also had product warranty costs of $82,000 expensed for financial reporting purposes in 2018. For tax purposes, only the $21,000 of warranty costs actually paid in 2018 was deducted. The remaining $61,000 will be deducted for tax purposes when paid over the next three years as follows:

Pretax accounting income for 2018 was $840,000, which includes interest revenue of $12,000 from municipal bonds. The enacted tax rate for 2018 is 30%.

Required:
1. Assuming no differences between accounting income and taxable income other than those described above, prepare the appropriate journal entry to record Case’s 2018 income taxes.
2. What is Case’s 2018 net income?

Case Development began operations in December 2018. When property is sold on an installment basis, Case recognizes installment income for financial reporting purposes in the year of the sale. For tax purposes, installment income is reported by the installment method. 2018 installment income was $770,000 and will be collected over the next three years. Scheduled collections and enacted tax rates for 2019–2021 are as follows:

Case also had product warranty costs of $97,000 expensed for financial reporting purposes in 2018. For tax purposes, only the $28,500 of warranty costs actually paid in 2018 was deducted. The remaining $68,500 will be deducted for tax purposes when paid over the next three years as follows:

Pretax accounting income for 2018 was $1,065,000, which includes interest revenue of $27,000 from municipal bonds. The enacted tax rate for 2018 is 30%.

Required:
1. Assuming no differences between accounting income and taxable income other than those described above, prepare the appropriate journal entry to record Case’s 2018 income taxes.
2. What is Case’s 2018 net income?

Case Development began operations in December 2018. When property is sold on an installment basis, Case recognizes installment income for financial reporting purposes in the year of the sale. For tax purposes, installment income is reported by the installment method. 2018 installment income was $690,000 and will be collected over the next three years. Scheduled collections and enacted tax rates for 2019–2021 are as follows:

Case also had product warranty costs of $89,000 expensed for financial reporting purposes in 2018. For tax purposes, only the $24,500 of warranty costs actually paid in 2018 was deducted. The remaining $64,500 will be deducted for tax purposes when paid over the next three years as follows:

Pretax accounting income for 2018 was $945,000, which includes interest revenue of $19,000 from municipal bonds. The enacted tax rate for 2018 is 30%.

Required:
1. Assuming no differences between accounting income and taxable income other than those described above, prepare the appropriate journal entry to record Case’s 2018 income taxes.
2. What is Case’s 2018 net income?
  

2) [4] The average amount of money spent by an Eddie Bauer customer is $127.56 with standard deviation $56.91. Assume the variable is normally distributed. Answer the following questions. a) What is the probability that an Eddie Bauer customer spent more than $120? b) What is the probability that a random sample of 12 Eddie Bauer customers spent an average between $110 and $130

Which of these observations are generally present in Requirements Engineering (RE)?'

There is a “why, what and how” paradox

Customers do not pay for RE because they only pay the final deliverables

The RE community has long agreed that RE should not be concerned with the solution space issues such as architecture

Requirements engineer as a profession needs to be properly positioned between a generalist and a specialist

All of above