Isaac inc. began operations in january 2018. for certain of its property sales, isaac recognizes income in the period of sale for financial reporting purposes. however, for income tax purposes, isaac recognizes income when it collects cash from the buyer's installment payments. in 2018, isaac had $684 million in sales of this type. scheduled collections for these sales are as follows: 2018 $ 66 million 2019 146 million 2020 122 million 2021 173 million 2022 177 million $ 684 million assume that isaac has a 25% income tax rate and that there were no other differences in income for financial statement and tax purposes. suppose that, in 2019, legislation revised the income tax rates so that isaac would be taxed in 2020 and beyond at 35%, rather than 25%. assume that there were no other differences in income for financial statement and tax purposes. ignoring operating expenses and additional sales in 2019, what deferred tax liability would isaac report in its year-end 2019 balance sheet? (round your answer to the nearest whole million.)

Daniel owns 100 shares of abc corporation's common stock. abc uses the fair value option, and recent declines in the firm's credit rating have caused the value of the firm's outstanding bonds payable to drop by 10%. daniel feels this is good news, but he wants to know what you think about the situation. which of the following represents your best response? a : "this situation may be positive for you in that the change in abc's credit standing indicates that the value of the firm's assets is likely increasing. however, the drop in bond value may negate any positive effects on your bottom line, because it means your claim on the firm's assets is simultaneously decreasing." b : "actually, this is bad news all around. the drop in the value of abc's bonds payable means shareholders' claims on the firm's assets have decreased. moreover, abc's declining credit rating means that the firm's assets are probably also dropping in value, thus magnifying your losses even more." c : "on the surface, this seems like good news because it means your claim on the firm's assets has increased. however, the drop in creditworthiness may also indicate that abc's assets are declining in value, thus offsetting any gains associated with the drop in bonds payable." d : "you're right! this is good news because it means that abc's debtholders have a decreased claim on the firm's assets. as a result, the firm's existing shareholders"like you"have seen their claim on the firm's assets increase."

Abank has $132,000 in excess reserves and the required reserve ratio is 11 percent. this means the bank could have in checkable deposit liabilities and in (total) reserves.

With signals from no-claim bonuses and deductibles, a. the marginal cost curve for careful drivers lies to the left of the marginal cost curve for aggressive drivers b. auto insurance companies insure more aggressive drivers than careful drivers because aggressive drivers have a greater need for the insurance c. the market for car insurance has a separating equilibrium, and the market is efficient d. most drivers pay higher premiums than if the market had no signals