Dixon development began operations in december 2018. when lots for industrial development are sold, dixon recognizes income for financial reporting purposes in the year of the sale. for some lots, dixon recognizes income for tax purposes when collected. income recognized for financial reporting purposes in 2018 for lots sold this way was $12 million, which will be collected over the next three years. scheduled collections for 2019–2021 are as follows: 2019 $ 4 million 2020 5 million 2021 3 million $ 12 million pretax accounting income for 2018 was $16 million. the enacted tax rate is 40%. required: 1. assuming no differences between accounting income and taxable income other than those described above, prepare the journal entry to record income taxes in 2018. 2. suppose a new tax law, revising the tax rate from 40% to 35%, beginning in 2020, is enacted in 2019, when pretax accounting income was $15 million. no 2019 lot sales qualified for the special tax treatment. prepare the appropriate journal entry to record income taxes in 2019. 3. if the new tax rate had not been enacted, what would have been the appropriate balance in the deferred tax liability account at the end of 2019?

Identify the accounting assumption or principle that is described below. (a) select the accounting assumption or principle is the rationale for why plant assets are not reported at liquidation value. (note: do not use the historical cost principle.) (b) select the accounting assumption or principle indicates that personal and business record-keeping should be separately maintained. (c) select the accounting assumption or principle assumes that the dollar is the "measuring stick" used to report on financial performance. (d) select the accounting assumption or principle separates financial information into time periods for reporting purposes. (e) select the accounting assumption or principle measurement basis used when a reliable estimate of fair value is not available. (f) select the accounting assumption or principle dictates that companies should disclose all circumstances and events that make a difference to financial statement users.

1. gar principles or "the principles"are intended to do what? a. foster an awareness of the hierarchical structure of the organization b. explain the best method of implementing biometric security techniques c. foster an awareness of the importance of good employee training d. foster an awareness of getting upper level management on board in understanding the need to implement an ig program e. foster an awareness of good record keeping principles

Calculate the cost of each capital component—in other words, the after-tax cost of debt, the cost of preferred stock (including flotation costs), and the cost of equity (ignoring flotation costs). use both the capm method and the dividend growth approach to find the cost of equity.calculate the cost of new stock using the dividend growth approach.what is the cost of new common stock based on the capm? (hint: find the difference between re and rs as determined by the dividend growth approach and then add that difference to the capm value for rs.)assuming that gao will not issue new equity and will continue to use the same target capital structure, what is the company’s wacc? e. suppose gao is evaluating three projects with the following characteristics.each project has a cost of $1 million. they will all be financed using the target mix of long-term debt, preferred stock, and common equity. the cost of the common equity for each project should be based on the beta estimated for the project. all equity will come from reinvested earnings.equity invested in project a would have a beta of 0.5 and an expected return of 9.0%.equity invested in project b would have a beta of 1.0 and an expected return of 10.0%.equity invested in project c would have a beta of 2.0 and an expected return of 11.0%.analyze the company’s situation, and explain why each project should be accepted or rejected g