Athis Co. at the end of 2020, its first year of operations, prepared a reconciliation between pretax financial income and taxable income as follows:Pretax financial income $ 1,200,000Estimated litigation expense 3,000,000Installment sales (2,400,000)Taxable income $ 1,800,000The estimated litigation expense of $3,000,000 will be deductible in 2019 when it is expected to be paid. The gross profit from the installment sales will be realized in the amount of $1,200,000 in each of the next two years. The estimated liability for litigation is classified as noncurrent and the installment accounts receivable are classified as $1,200,000 current and $1, 200,000 noncurrent, The income tax rate is 30% for years.
Find the income tax expense, the deffered tax asset to be recognized, and the defferred tax liablitiy to be recognized.

Which of the following pairs is most similar to each other? a. barter goods and fiat money b. digital money and barter goods c. fiat money and digital money d. commodity money and digital money

Peppy roaney believes that pizza is a much more versatile dish than most people realize. as the national marketing manager for pizza guys, he observed how consumers were delighted with barbecue pizza, hawaiian pizza, mexican pizza and other unique combinations. his suggestions for other unusual pizzas, however, were met with a negative response by his superiors. even some of his colleagues laughed at his ideas. peppy's confidence in his ability to understand the market has led him to focus on planning a business of his own. peppy realizes that he will take a risk when he leaves his job with pizza guys and embarks upon a new venture: peppy's pizzazzeria. peppy is excited about the potential of profitably catering to the unmet desires of pizza consumers. peppy is confident that peppy's pizzazzeria will be a success, but only if he has enough money to do things right. since peppy has very little personal wealth, he knows he must obtain financial assistance. in order to prepare for meetings with bankers and p

Blue spruce corp. has the following transactions during august of the current year. aug. 1 issues shares of common stock to investors in exchange for $10,170. 4 pays insurance in advance for 3 months, $1,720. 16 receives $710 from clients for services rendered. 27 pays the secretary $740 salary. indicate the basic analysis and the debit-credit analysis.