Alsup consulting sometimes performs services for which it receives payment at the conclusion of the engagement, up to six months after services commence. alsup recognizes service revenue for financial reporting purposes when the services are performed. for tax purposes, revenue is reported when fees are collected. service revenue, collections, and pretax accounting income for 2017–2020 are as follows: service revenue collections pretax accounting income 2017 $ 574,000 $ 554,000 $ 110,000 2018 670,000 680,000 175,000 2019 635,000 610,000 145,000 2020 620,000 640,000 125,000 there are no differences between accounting income and taxable income other than the temporary difference described above. the enacted tax rate for each year is 40%. (hint: you may find it to prepare a schedule that shows the balances in service revenue receivable at december 31, 2017–2020.) required: 1. prepare the appropriate journal entry to record alsup's 2018 income taxes, alsup’s 2019 income taxes and alsup’s 2020 income taxes. (if no entry is required for a transaction/event, select "no journal entry required" in the first account field. enter your answers in thousands (e. g. 150,000 should be entered as

Consider the following two projects. both have costs of $5,000 in year 1. project 1 provides benefits of $2,000 in each of the first four years only. the second provides benefits of $2,000 for each of years 6 to 10 only. compute the net benefits using a discount rate of 6 percent. repeat using a discount rate of 12 percent. what can you conclude from this exercise?

Some years ago it was estimated that the demand for steel approximately satisfied the equation p=194-25x x, and the total cost of producing x units of steel was upper c left parenthesis x right parenthesis equals 145 plus 40 x. (the quantity x was measured in millions of tons and the price and total cost were measured in millions of dollars.) determine the level of production and the corresponding price that maximize the profits.

Kandon enterprises, inc., has two operating divisions; one manufactures machinery and the other breeds and sells horses. both divisions are considered separate components as defined by generally accepted accounting principles. the horse division has been unprofitable, and on november 15, 2018, kandon adopted a formal plan to sell the division. the sale was completed on april 30, 2019. at december 31, 2018, the component was considered held for sale. on december 31, 2018, the company’s fiscal year-end, the book value of the assets of the horse division was $415,000. on that date, the fair value of the assets, less costs to sell, was $350,000. the before-tax loss from operations of the division for the year was $290,000. the company’s effective tax rate is 40%. the after-tax income from continuing operations for 2018 was $550,000. required: 1. prepare a partial income statement for 2018 beginning with income from continuing operations. ignore eps disclosures. 2. prepare a partial income statement for 2018 beginning with income from continuing operations. assuming that the estimated net fair value of the horse division’s assets was $700,000, instead of $350,000. ignore eps disclosures.