Burnham company collected rent of $3,800 during year 1. for income tax reporting, the rent is taxed when collected. for financial reporting, the rent is recognized as income in the period earned. at the end of year 1, the unearned portion of the rent collected during the year amounted to $440. burnham had no temporary differences at the beginning of the current year. assume an income tax rate of 30%. what is the amount of the deferred tax asset that should be recognized at the end of year 1?

On january 1, 2017, fisher corporation purchased 40 percent (90,000 shares) of the common stock of bowden, inc. for $980,000 in cash and began to use the equity method for the investment. the price paid represented a $48,000 payment in excess of the book value of fisher's share of bowden's underlying net assets. fisher was willing to make this extra payment because of a recently developed patent held by bowden with a 15-year remaining life. all other assets were considered appropriately valued on bowden's books. bowden declares and pays a $90,000 cash dividend to its stockholders each year on september 15. bowden reported net income of $400,000 in 2017 and $348,000 in 2018. each income figure was earned evenly throughout its respective year. on july 1, 2018, fisher sold 10 percent (22,500 shares) of bowden's outstanding shares for $338,000 in cash. although it sold this interest, fisher maintained the ability to significantly influence bowden's decision-making process. prepare the journal entries for fisher for the years of 2017 and 2018. (if no entry is required for a transaction/event, select "no journal entry required" in the first account field. do not round intermediate calculations. round your final answers to the nearest whole dollar.)

Why might a business based on a fad be a good idea? question 2 options: fads bring in the most customers. some fads are longer lasting than expected. fads have made some business owners incredibly wealthy. fads can take a business in a new direction.

Consider a firm with a contract to sell an asset for $149,000 four years from now. the asset costs $85,000 to produce today. a. given a relevant discount rate of 14 percent per year, calculate the profit the firm will make on this asset. (a loss should be indicated by a minus sign. do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) b. at what rate does the firm just break even?