Bindy crawford created a corporation providing legal services, kingbird, inc., on july 1, 2022. on july 31 the balance sheet showed: cash $4,000; accounts receivable $3,500; supplies $600; equipment $6,000; accounts payable $5,200; common stock $7,200; and retained earnings $1,700. during august the following transactions occurred. aug. 1 collected $1,000 of accounts receivable due from customers. 4 paid $2,600 cash for accounts payable due. 9 performed services worth $5,300, of which $3,500 is collected in cash and the balance is due in september. 15 purchased additional office equipment for $4,010, paying $410 in cash and the balance on account. 19 paid salaries $1,300, rent for august $600, and advertising expenses $300. 23 paid a cash dividend of $600. 26 borrowed $5,000 from american federal bank; the money was borrowed on a 4-month note payable. 31 incurred utility expenses for the month on account $350. prepare an income statement for august, a retained earnings statement for august and a classified balance sheet at august 31.

Bridgeport company began operations at the beginning of 2018. the following information pertains to this company. 1. pretax financial income for 2018 is $115,000. 2. the tax rate enacted for 2018 and future years is 40%. 3. differences between the 2018 income statement and tax return are listed below: (a) warranty expense accrued for financial reporting purposes amounts to $7,500. warranty deductions per the tax return amount to $2,200. (b) gross profit on construction contracts using the percentage-of-completion method per books amounts to $94,700. gross profit on construction contracts for tax purposes amounts to $67,100. (c) depreciation of property, plant, and equipment for financial reporting purposes amounts to $61,800. depreciation of these assets amounts to $75,700 for the tax return. (d) a $3,600 fine paid for violation of pollution laws was deducted in computing pretax financial income. (e) interest revenue recognized on an investment in tax-exempt municipal bonds amounts to $1,500. 4. taxable income is expected for the next few years. (assume (a) is short-term in nature; assume (b) and (c) are long-term in nature.) (a) prepare the reconciliation schedule for 2017 and future years. (b) prepare the journal entry to record income tax expense for 2017. (c) prepare the income tax expense section of the income statement beginning with “income before income taxes.” (d) determine how the deferred taxes will appear on the balance sheet at the end of 2017.

Jose recently died with a probate estate of $900,000. he was predeceased by his wife, guadalupe, and his daughter, lucy. he has two surviving children, pete and fred. jose was also survived by eight grandchildren, pete’s three children, naomi, daniel, nick; fred’s three children, heather, chris and steve; and lucy’s two children, david and rachel. jose’s will states the following “i leave everything to my three children. if any of my children shall predecease me then i leave their share to their heirs, per stirpes.” which of the following statements is correct? (a) under jose’s will rachel will receive $150,000. (b) under jose’s will chris will receive $150,000. (c) under jose’s will nick will receive $100,000. (d) under jose’s will pete will receive $200,000.

What is the cause of smoky exhaust?