Isaac inc. began operations in january 2018. for certain of its property sales, isaac recognizes income in the period of sale for financial reporting purposes. however, for income tax purposes, isaac recognizes income when it collects cash from the buyer's installment payments. in 2018, isaac had $684 million in sales of this type. scheduled collections for these sales are as follows: 2018 $ 66 million 2019 146 million 2020 122 million 2021 173 million 2022 177 million $ 684 million assume that isaac has a 25% income tax rate and that there were no other differences in income for financial statement and tax purposes. suppose that, in 2019, legislation revised the income tax rates so that isaac would be taxed in 2020 and beyond at 35%, rather than 25%. assume that there were no other differences in income for financial statement and tax purposes. ignoring operating expenses and additional sales in 2019, what deferred tax liability would isaac report in its year-end 2019 balance sheet? (round your answer to the nearest whole million.)

What two elements normally must exist before a person can be held liable for a crime

Aprice ceiling is “binding” if the price ceiling is set below the equilibrium price. suppose that the equilibrium price is $5. if a price ceiling is set at $6, this will not affect the market in any way since $5 remains a legally allowable price (since $5 < $6). a price ceiling of $6 is called a “non-binding” price ceiling. on the other hand, if the price ceiling is set at $4, the price ceiling is “binding” because the natural equilibrium price is $5 but that is no longer allowed. what happens when there is a binding price ceiling? at a price below the equilibrium price, quantity demanded exceeds quantity supplied. there is a shortage. normally, price increases eliminate shortages by increasing quantity supplied and decreasing quantity demanded. in this case, however, price increases are not allowed past the price ceiling. we therefore predict that the observed market price will be right at the price ceiling and there will be a permanent shortage. the observed quantity bought and sold will be dictated by the quantity supplied at the price ceiling. although consumers would like to buy more, there are no more units for sale

Henry crouch's law office has traditionally ordered ink refills 55 units at a time. the firm estimates that carrying cost is 35% of the $11 unit cost and that annual demand is about 240 units per year. the assumptions of the basic eoq model are thought to apply. for what value of ordering cost would its action be optimal? a) for what value of ordering cost would its action be optimal?