Randolph company reported pretax net income from continuing operations of $997,000 and taxable income of $640,000. the book-tax difference of $357,000 was due to a $244,000 favorable temporary difference relating to depreciation, an unfavorable temporary difference of $136,000 due to an increase in the reserve for bad debts, and a $249,000 favorable permanent difference from the receipt of life insurance proceeds. randolph company’s applicable tax rate is 34 percent. a. compute randolph company’s current income tax expense. b. complete the reconciliation of randolph company’s effective tax rate with its hypothetical tax rate of 34 percentc. compute randolph company’s effective tax rate
d. compute randolph company’s deferred income tax expense or benefit.

Guardian inc. is trying to develop an asset-financing plan. the firm has $450,000 in temporary current assets and $350,000 in permanent current assets. guardian also has $550,000 in fixed assets. assume a tax rate of 40 percent. a. construct two alternative financing plans for guardian. one of the plans should be conservative, with 70 percent of assets financed by long-term sources, and the other should be aggressive, with only 56.25 percent of assets financed by long-term sources. the current interest rate is 12 percent on long-term funds and 7 percent on short-term financing. compute the annual interest payments under each plan.

Juwana was turned down for a car loan by a local credit union she thought her credit was good what should her first step be

Diversified semiconductors sells perishable electronic components. some must be shipped and stored in reusable protective containers. customers pay a deposit for each container received. the deposit is equal to the container’s cost. they receive a refund when the container is returned. during 2018, deposits collected on containers shipped were $856,000. deposits are forfeited if containers are not returned within 18 months. containers held by customers at january 1, 2018, represented deposits of $587,000. in 2018, $811,000 was refunded and deposits forfeited were $41,000. required: 1. prepare the appropriate journal entries for the deposits received and returned during 2018. 2. determine the liability for refundable deposits to be reported on the december 31, 2018, balance sheet.