Palmer Co. had a deferred tax liability balance due to a temporary difference at the beginning of 2020 related to $1,500,000 of excess depreciation. In December of 2020, a new income tax act is signed into law that lowers the corporate rate from 30% to 25%, effective January 1, 2022. If taxable amounts related to the temporary difference are scheduled to be reversed by $750,000 for both 2021 and 2022, Palmer should increase or decrease deferred tax liability by what amount?

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Your grandmother told you a dollar doesn't go as far as it used to. she says the purchasing power of a dollar is much lesser than it used to be. explain what she means. try and use and explain terms like inflation and deflation in your answer.

Evan company reports net income of $232,000 each year and declares an annual cash dividend of $100,000. the company holds net assets of $2,130,000 on january 1, 2017. on that date, shalina purchases 40 percent of evan's outstanding common stock for $1,066,000, which gives it the ability to significantly influence evan. at the purchase date, the excess of shalina’s cost over its proportionate share of evan’s book value was assigned to goodwill. on december 31, 2019, what is the investment in evan company balance (equity method) in shalina’s financial records?