For the year ended december 31, year 1, tyre co. reported pretax financial statement income of $750,000. its taxable income was $650,000. the difference is due to accelerated depreciation for income tax purposes. tyre's effective income tax rate is 30%, and tyre made estimated tax payments during year 1 of $90,000. what amount should tyre report as current income tax expense for year 1? a. $105,000b. $135,000c. $195,000d. $225,000

Grey company holds an overdue note receivable of $800,000 plus recorded accrued interest of $64,000. the effective interest rate is 8%. as the result of a court-imposed settlement on december 31, year 3, grey agreed to the following restructuring arrangement: reduced the principal obligation to $600,000.forgave the $64,000 accrued interest.extended the maturity date to december 31, year 5.annual interest of $40,000 is to be paid to grey on december 31, year 4 and year 5. the present value of the interest and principal payments to be received by grey company discounted for two years at 8% is $585,734. grey does not elect the fair value option for reporting the debt modification. on december 31, year 3, grey would recognize a valuation allowance for impaired loans of

The following information is available for ellen's fashions, inc. for the current month. book balance end of month $ 7 comma 000 outstanding checks 700 deposits in transit 4 comma 500 service charges 120 interest revenue 45 what is the adjusted book balance on the bank reconciliation?

Describe what fixed costs and marginal costs mean to a company.