During 2021, its first year of operations, Baginski Steel Corporation reported a net operating loss of $388,000 for financial reporting and tax purposes. The enacted tax rate is 25%. Required:

1. Prepare the journal entry to recognize the income tax benefit of the net operating loss. Assume the weight of available evidence suggests that future taxable income will be sufficient to benefit from future deductible amounts arising from the net operating loss carryforward.
2. Show the lower portion of the 2021 income statement that reports the income tax benefit of the net operating loss.

Carlos would like to start saving for his son’s college expenses. which type of savings account should carlos open? ida money market 529 plan basic savings account

Complete the sentences. upper a decrease in current income taxes the supply of loanable funds today because it a. decreases; increases disposable income, which decreases saving b. has no effect on; doesn't change expected future disposable income c. decreases; decreases expected future disposable income d. increases; increases disposable income, which encourages greater saving upper a decrease in expected future income a. increases the supply of loanable funds today because households with smaller expected future income will save more today b. has no effect on the supply of loanable funds c. decreases the supply of loanable funds because it decreases wealth d. decreases the supply of loanable funds today because households with smaller expected future income will save less today

The era of venture capitalists doling out large sums of money to startups is a. just beginning b. on the rise c. over d. fading