Acompany reports pretax accounting income of $10 million, but because of a single temporary difference, taxable income is only $7 million. no temporary differences existed at the beginning of the year, and the tax rate is 40%.

prepare the appropriate journal entry to record income taxes. (if no entry is required for a particular event, select "no journal entry required" in the first account field. enter your answers in millions rounded to 1 decimal place (i. e., 5,500,000 should be entered as 5.

Bonds often pay a coupon twice a year. for the valuation of bonds that make semiannual payments, the number of periods doubles, whereas the amount of cash flow decreases by half. using the values of cash flows and number of periods, the valuation model is adjusted accordingly. assume that a $1,000,000 par value, semiannual coupon us treasury note with three years to maturity has a coupon rate of 3%. the yield to maturity (ytm) of the bond is 7.70%. using this information and ignoring the other costs involved, calculate the value of the treasury note:

Which of the following statements are false regarding activity-based costing? non-manufacturing costs are important to include when calculating the cost of each product. costs are allocated based on a pre-determined overhead rate. transitioning from traditional costing methods to activity-based costing can be complicated and costly. activity-based costing follows the same basic calculation methods as traditional costing approaches. none of the above

Double corporation acquired all of the common stock of simple company for