Farmer Inc. began business on January 1, 2018. Its pretax financial income for the first 2 years was as follows:
2018 $360,000
2019 680,000
The following items caused the only differences between pretax financial income and taxable income.
1. In 2018, the company collected $396,000 of rent; of this amount, $132,000 was earned in 2018; the other $264,000 will be earned equally over the 2019–2020 period. The full $396,000 was included in taxable income in 2018.
2. The company pays $11,200 a year for life insurance on officers.
3. In 2019, the company terminated a top executive and agreed to $126,000 of severance pay. The amount will be paid $42,000 per year for 2019-2021. The 2019 payment was made. The $126,000 was expensed in 2019. For tax purposes, the severance pay is deductible as it is paid.
The enacted tax rates existing at December 31, 2018 are:
2018 30%
2019 35%
2020 40%
2021 40%
Required:
1. Determine taxable income for 2018 and 2019.
2. Determine the deferred income taxes at the end of 2018.

Price and efficiency variances, journal entries. the schuyler corporation manufactures lamps. it has set up the following standards per finished unit for direct materials and direct manufacturing labor: direct materials: 10 lb. at $4.50 per lb. $45.00 direct manufacturing labor: 0.5 hour at $30 per hour 15.00 the number of finished units budgeted for january 2017 was 10,000; 9,850 units were actually produced. actual results in january 2017 were as follows: direct materials: 98,055 lb. used direct manufacturing labor: 4,900 hours $154,350 assume that there was no beginning inventory of either direct materials or finished units. during the month, materials purchased amounted to 100,000 lb., at a total cost of $465,000. input price variances are isolated upon purchase. input-efficiency variances are isolated at the time of usage. 1. compute the january 2017 price and efficiency variances of direct materials and direct manufacturing labor. 2. prepare journal entries to record the variances in requirement 1. 3. comment on the january 2017 price and efficiency variances of schuyler corporation. 4. why might schuyler calculate direct materials price variances and direct materials efficiency variances with reference to different points in time

Asmartphone manufacturing company uses social media to achieve different business objectives. match each social media activity of the company to the objective it the company achieve.

Sales at a fast-food restaurant average $6,000 per day. the restaurant decided to introduce an advertising campaign to increase daily sales. to determine the effectiveness of the advertising campaign, a sample of 49 days of sales were taken. they found that the average daily sales were $6,300 per day. from past history, the restaurant knew that its population standard deviation is about $1,000. if the level of significance is 0.01, have sales increased as a result of the advertising campaign? multiple choicea)fail to reject the null hypothesis. b)reject the null hypothesis and conclude the mean is higher than $6,000 per day. c)reject the null hypothesis and conclude the mean is lower than $6,000 per day. d)reject the null hypothesis and conclude that the mean is equal to $6,000 per day. expert answer