A reconciliation of pretax financial statement income to taxable income is shown below for Chan Inc. for the year ended December 31, 2021, its first year of operations. The income tax rate is 25%. Pretax accounting income (income statement) $ 500,000 Inventory impairments in excess of deductible amount 40,000 Depreciation in excess of financial statement amount (120,000 ) Taxable income (tax return) $ 420,000 The inventory impairments relate to Chan's Columbian tax return. The depreciation relates to Chan's U. S. tax return. What amount(s) should Chan report related to deferred income taxes in its 2021 balance sheet

Lynch company manufactures and sells a single product. the following costs were incurred during the company’s first year of operations: variable costs per unit: manufacturing: direct materials $ 12 direct labor $ 6 variable manufacturing overhead $ 1 variable selling and administrative $ 1 fixed costs per year: fixed manufacturing overhead $ 308,000 fixed selling and administrative $ 218,000 during the year, the company produced 28,000 units and sold 15,000 units. the selling price of the company’s product is $56 per unit. required: 1. assume that the company uses absorption costing: a. compute the unit product cost. b. prepare an income statement for the year. 2. assume that the company uses variable costing: a. compute the unit product cost. b. prepare an income statement for the year.

Compare the sources of consumer credit(there's not just one answer)1. consumers use a prearranged loan using special checks2. consumers use cards with no interest and non -revolving balances3. consumers pay off debt and credit is automatically renewed4. consumers take out a loan with a repayment date and have a specific purposea. travel and entertainment creditb. revolving check creditc. closed-end creditd. revolving credit

You are purchasing a bond that currently sold for $985.63. it has the time-to-maturity of 10 years and a coupon rate of 6%, paid semi-annually. the bond can be called for $1,020 in 3 years. what is the yield to maturity of this bond?