Wfo corporation has gross receipts according to the following schedule: year 1 $2 million year 2 $4 million year 3 $6 million year 4 $4.5 million year 5 $5 million year 6 $7 million if wfo began business as a cash-method corporation in year 1, in which year would it have first been required to use the accrual method?

a. year 3
b. year 4
c. year 5
d. year 6
e. none of these.

What happens when a bank is required to hold more money in reserve?

Martinez company has the following two temporary differences between its income tax expense and income taxes payable. 2017 2018 2019 pretax financial income $873,000 $866,000 $947,000 (2017' 2018, 2019) excess depreciation expense on tax return (29,400 ) (39,000 ) (9,600 ) (2017' 2018, 2019) excess warranty expense in financial income 20,000 9,900 8,300 (2017' 2018, 2019) taxable income $863,600 $836,900 $945,700(2017' 2018, 2019) the income tax rate for all years is 40%. instructions: a. prepare the journal entry to record income tax expense, deferred income taxes, and income taxes payable for 2017, 2018, and 2019. b. assuming there were no temporary differences prior to 2016, indicate how deferred taxes will be reported on the 2016 balance sheet. button's warranty is for 12 months. c. prepare the income tax expense section of the income statement for 2017, beginning with the line, "pretax financial income."

Gus needs to purée his soup while it's still in the pot. what is the best tool for him to use? a. potato masher b. immersion blender c. rotary mixer d. whisk