The caldwell herald newspaper reported the following story: frank ormsby of caldwell is the state’s newest millionaire. by choosing the six winning numbers on last week’s state lottery, mr. ormsby has won the week’s grand prize totaling $1.12 million. the state lottery commission has indicated that mr. ormsby will receive his prize in 20 annual installments of $56,000 each. click here to view exhibit 11b-1 and exhibit 11b-2, to determine the appropriate discount factor(s) using tables. required: 1. if mr. ormsby can invest money at a 8% rate of return, what is the present value of his winnings? (use the appropriate table to determine the discount factor(

Alocal club is selling christmas trees and deciding how many to stock for the month of december. if demand is normally distributed with a mean of 100 and standard deviation of 20, trees have no salvage value at the end of the month, trees cost $20, and trees sell for $50 what is the service level?

The strength of the economy depends on the balance pf production and consumption of goods and consumption of goods and services

Bridgeport company began operations at the beginning of 2018. the following information pertains to this company. 1. pretax financial income for 2018 is $115,000. 2. the tax rate enacted for 2018 and future years is 40%. 3. differences between the 2018 income statement and tax return are listed below: (a) warranty expense accrued for financial reporting purposes amounts to $7,500. warranty deductions per the tax return amount to $2,200. (b) gross profit on construction contracts using the percentage-of-completion method per books amounts to $94,700. gross profit on construction contracts for tax purposes amounts to $67,100. (c) depreciation of property, plant, and equipment for financial reporting purposes amounts to $61,800. depreciation of these assets amounts to $75,700 for the tax return. (d) a $3,600 fine paid for violation of pollution laws was deducted in computing pretax financial income. (e) interest revenue recognized on an investment in tax-exempt municipal bonds amounts to $1,500. 4. taxable income is expected for the next few years. (assume (a) is short-term in nature; assume (b) and (c) are long-term in nature.) (a) prepare the reconciliation schedule for 2017 and future years. (b) prepare the journal entry to record income tax expense for 2017. (c) prepare the income tax expense section of the income statement beginning with “income before income taxes.” (d) determine how the deferred taxes will appear on the balance sheet at the end of 2017.