Lance lawn services reports warranty expense by estimating the amount that eventually will be paid to satisfy warranties on its product sales. for tax purposes, the expense is deducted when the cost is incurred. at december 31, 2013, lance has a warranty liability of $2 million and taxable income of $40 million. at december 31, 2012, lance reported a deferred tax asset of $737,500 related to this difference in reporting warranties, its only temporary difference. the enacted tax rate is 35% each yearrequired: prepare the appropriate journal entry to record lance

The market yield on spice grills' bonds is 15%, and the firm's marginal tax rate is 33%. what is their shareholders' required return if the equity risk premium is 4%?

12.     to produce a textured purée, you would use a/an a. food processor. b. wide-mesh sieve. c. immersion blender d. food mill. student a   incorrect which is correct answer?

Suppose you win a small lottery and have the choice of two ways to be paid: you can accept the money in a lump sum or in a series of payments over time. if you pick the lump sum, you get $2,950 today. if you pick payments over time, you get three payments: $1,000 today, $1,000 1 year from today, and $1,000 2 years from today. 1) at an interest rate of 6% per year, the winner would be better off accepting the (lump sum / payments over time), since it has the greater present value. 2) at an interest rate of 9% per year, the winner would be better off accepting the (lump sum / payments over time), since it has the greater present value. 3) years after you win the lottery, a friend in another country calls to ask your advice. by wild coincidence, she has just won another lottery with the same payout schemes. she must make a quick decision about whether to collect her money under the lump sum or the payments over time. what is the best advice to give your friend? a) the lump sum is always better. b) the payments over time are always better. c) it will depend on the interest rate; advise her to get a calculator. d) none of these answers is good advice.