In 2018, dfs medical supply collected rent revenue for 2019 tenant occupancy. for income tax reporting, the rent is taxed when collected. for financial statement reporting, the rent is recorded as deferred revenue and then recognized as income in the period tenants occupy the rental property. the deferred portion of the rent collected in 2018 amounted to $430,000 at december 31, 2018. dfs had no temporary differences at the beginning of the year. required: assuming an income tax rate of 40% and 2018 income tax payable of $980,000, prepare the journal entry to record income taxes for 2018. (if no entry is required for a transaction/event, select "no journal entry required" in the first account field.)
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What do economists mean when they use the latin expression ceteris paribus?
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Lin corporation has a single product whose selling price is $136 per unit and whose variable expense is $68 per unit. the company’s monthly fixed expense is $32,400. required: 1. calculate the unit sales needed to attain a target profit of $5,000. (do not round intermediate calculations.) 2. calculate the dollar sales needed to attain a target profit of $8,400.
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In 2018, dfs medical supply collected rent revenue for 2019 tenant occupancy. for income tax reporti...
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