On its december 31, 2005 balance sheet, shin co. has income tax payable of $13,000 and a current deferred tax asset of $20,000, before determining the need for a valuation account. shin had reported a current deferred tax asset of $15,000 at december 31, 2004. no estimated tax payments are made during 2005. at december 31, 2005, shin determines that it is more likely than not that 10% of the deferred tax asset would not be realized.
in its 2005 income statement, what amount should shin report as total income tax expense?
a. $8,000
b. $8,500
c. $10,000
d. $13,000

Marvin wrote a check of $58.25 for the water bill and $450 for rent. he also made a deposit of $124.16. how much is his new balance after writing the checks and making the deposit?

Chance company had two operating divisions, one manufacturing farm equipment and the other office supplies. both divisions are considered separate components as defined by generally accepted accounting principles. the farm equipment component had been unprofitable, and on september 1, 2018, the company adopted a plan to sell the assets of the division. the actual sale was completed on december 15, 2018, at a price of $600,000. the book value of the division’s assets was $1,000,000, resulting in a before-tax loss of $400,000 on the sale. the division incurred a before-tax operating loss from operations of $130,000 from the beginning of the year through december 15. the income tax rate is 40%. chance’s after-tax income from its continuing operations is $350,000. required: prepare an income statement for 2018 beginning with income from continuing operations. include appropriate eps disclosures assuming that 100,000 shares of common stock were outstanding throughout the year. (amounts to be deducted should be indicated with a minus sign. round eps answers to 2 decimal places.)

The following information is available for ellen's fashions, inc. for the current month. book balance end of month $ 7 comma 000 outstanding checks 700 deposits in transit 4 comma 500 service charges 120 interest revenue 45 what is the adjusted book balance on the bank reconciliation?