In early january of year 6, off-line co. changed its method of accounting for demo costs from writing off the costs over 2 years to expensing the costs immediately. off-line made the change in recognition that an increasing number of demos placed with potential customers did not result in sales. off-line had deferred demo costs of $500,000 at december 31, year 5, of which $300,000 were to be written off in year 6 and the remainder in year 7. off-line’s income tax rate is 30%. in its year 6 statement of retained earnings, what amount should off-line report as a retrospective adjustment of its january 1, year 6, retained earnings?

How does the plaintiff, mrs. wood, try to implicate the gun manufacturer ( who testifies, what do they say, what evidence is introduced)?

Russell's is considering purchasing $697,400 of equipment for a four-year project. the equipment falls in the five-year macrs class with annual percentages of .2, .32, .192, .1152, .1152, and .0576 for years 1 to 6, respectively. at the end of the project the equipment can be sold for an estimated $135,000. the required return is 13.2 percent and the tax rate is 23 percent. what is the amount of the aftertax salvage value of the equipment assuming no bonus depreciation is taken

Sean lives in dallas and runs a business that sells boats. in an average year, he receives $722,000 from selling boats. of this sales revenue, he must pay the manufacturer a wholesale cost of $422,000; he also pays wages and utility bills totaling $268,000. he owns his showroom; if he chooses to rent it out, he will receive $2,000 in rent per year. assume that the value of this showroom does not depreciate over the year. also, if sean does not operate this boat business, he can work as a paralegal, receive an annual salary of $21,000 with no additional monetary costs, and rent out his showroom at the $2,000 per year rate. no other costs are incurred in running this boat business. identify each of sean's costs in the following table as either an implicit cost or an explicit cost of selling boats. implicit costexplicit costthe wages and utility bills that sean pays the rental income sean could receive if he chose to rent out his showroom the salary sean could earn if he worked as a paralegal the wholesale cost for the boats that sean pays the