The following facts relate to Pronghorn Corporation.

1. Deferred tax liability, January 1, 2017, $42,000.
2. Deferred tax asset, January 1, 2017, $0.
3. Taxable income for 2017, $99,750.
4. Pretax financial income for 2017, $210,000.
5. Cumulative temporary difference at December 31, 2017, giving rise to future taxable amounts, $252,000.
6. Cumulative temporary difference at December 31, 2017, giving rise to future deductible amounts, $36,750.
7. Tax rate for all years, 40%.
8. The company is expected to operate profitably in the future.

a. Compute income taxes payable for 2017
b. Prepare the journal entry to record income tax expense, deferred income taxes, and income taxes payable for 2017
c. Prepare the income tax expense section of the income statement for 2017, beginning with the line "Income before income taxes."

Consider an economy where government expenditures are 10 and total tax revenues are 10. the supply of labor is fixed at 125 and the supply of capital is fixed at 8. the economy is described by the following equations. y k to the power of 1 divided by 3 end exponent l to the power of 2 divided by 3 end exponent c 2.5 + 0.75 ( y - t ) i 10 - 0.5 r the level of private savings is

Atoy store has a new game in stock, but customers aren't buying it. which of the following types of inventory increases when customers aren't buying this game? a. work-in-process b. raw materials c. finished goods d. in-transit

German brothels recently began offering a monthly subscription service for multiple purchasers. if you thought that the brothels' encouragement of prostitution was immoral to begin with, would you consider this pricing plan to be even more immoral? suppose a particular patron at a german brothel has the following willingness-to-pay schedule for services at the brothel, per session. session willingness to pay 1st $84 2nd $72 3rd $60 4th $48 5th $36 6th $24 suppose this consumer would not demand any more sessions, even for free. also assume that the marginal cost to the brothel, per session, is constant at $12. at a price of $78.00 per session, the number of sessions demanded by this consumer would be . at this price and quantity, consumer surplus is $ and producer surplus is $ . suppose the brothel has devised a new pricing scheme for consumers who demand more than 1 session. this pricing scheme is a subscription service, whereby consumers can pay a flat fee of $259.20 and can have up to 6 sessions total. using this subscription pricing model, this consumer would demand sessions. under this scenario, consumer surplus is $ and producer surplus is $ . (hint: for consumer surplus, consider how much total value the consumer places on all sessions, versus the total price paid.)