Smith Company reported $350,000 in book income before income tax during 20X1, its first year of operation. The tax depreciation exceeded its book depreciation by $30,000. The tax rate for 20X1 and all future years was 21%. If Smith paid no estimated taxes, what amount of income tax payable should Smith report in its December 31, 20X1, balance sheet

Let's consider a hypothetical airline, mudlarks airlines. on one of its flights, precious records show that about 15% of people who had tickets for the flights did not take the flight. there are 120 seats on the plane. 1. how many tickets should mudlarks airlines sell for this flight? 2. as an added consideration, suppose that tickets on this flight cost a flat rate of $250. in addition, mudlarks airlines must give any traveler who purchased a seat for the flight, but who cannot travel due to overbooking, a $400 certificate for their trouble. does this change your answer in question one? now, suppose that mudlarks airlines forms a partnership itch another airline, puffin air. their agreement allocates 100 seats on the flight to mudlarks airlines and another 20 seats to puffin air. the 2 airlines sell tickets for the flight independently of each other. 3. assuming the same 15% no show percent for each airline, how many tickets should each sell?