Pronghorn co. has one temporary difference at the beginning of 2017 of $469,000. the deferred tax liability established for this amount is $140,700, based on a tax rate of 30%. the temporary difference will provide the following taxable amounts: $91,000 in 2018, $197,000 in 2019, and $181,000 in 2020. if a new tax rate for 2020 of 20% is enacted into law at the end of 2017, what is the journal entry necessary in 2017 (if any) to adjust deferred taxes?

Which of the following best describes the economic effect that results when the government increases interest rates and restricts the lending of money? a. borrowing money becomes more expensive and there is less investment in production. b. the economy grows as investments result in larger profits. c. government spending drives up prices because of greater competition for goods and services. d. consumers save more money and spend less buying goods and services.

Diamond motor car company produces some of the most luxurious and expensive cars in the world. typically, only a single dealership is authorized to sell its cars in certain major cities. in less populous areas, diamond authorizes a single dealer for an entire state or region. the manufacturer of diamond automobiles is using a(n) distribution strategy for its product.

Three years ago, stock tek purchased some five-year macrs property for $82,600. today, it is selling this property for $31,500. how much tax will the company owe on this sale if the tax rate is 34 percent? the macrs allowance percentages are as follows, commencing with year 1: 20.00, 32.00, 19.20, 11.52, 11.52, and 5.76 percent.