Never, Inc., earns book net income before tax of $500,000. In computing its book income, Never expenses $50,000 more in warranty expense for book purposes than it is allowed to deduct for tax purposes. Never records no other temporary or permanent book-tax differences. Assuming that the U. S. tax rate is 21% and no valuation allowance is required, what is Never's deferred income tax asset reported on its GAAP financial statements

$10,500

Explanation:

Calculation for Never's deferred income tax asset reported on its GAAP financial statements

Using this formula

Deferred income tax asset =Expenses*U.S. tax rate

Let plug in the formula

Deferred income tax asset =$50,000*21%

Deferred income tax asset $10,500

Therefore Never's deferred income tax asset reported on its GAAP financial statements will be $10,500

because she sucked. : )

(but so does trump, don't @ me)

credit history is used by lenders to determine whether you are a 'risky' person to give their money to.

having a short history provide very little data for the lenders. they wouldn't be able to determine your credit behavior from such a small samples. even if they are perfect.

having long credit history with few blemishes provide larger and more accurate data for the lenders to predict your credit behavior.