The following information is available for Wenger Corporation.

1. Excess of tax depreciation over book depreciation, $40,000. This $40,000 difference will reverse equally over the years 2014-2017.

2. Deferral, for book purposes, of $20,000 of rent received in advance. The rent will be earned in 2014.

3. Pretax financial income, $300,000

4. Tax rate for all years, 40%

Instructions:

A. Compute taxable income for 2013.

B. Prepare the journal entry to record income tax expense, deferred income taxes, and income taxes payable for 2013.

C. Prepare the journal entry to record income tax expense, deferred income taxes, and income taxes payable for 2014, assuming taxable income is $325,000.

According to the research in strategic human resources management, answers: firms that are able to use human resource practices to develop socially complex human and organizational resources are able to gain competitive advantage over firms that do not engage in these practices. firms that are able to use human resource practices to develop socially simplistic human and organizational resources are able to gain competitive advantage over firms that do not engage in these practices. firms that are able to use human resource practices to develop socially complex human and organizational resources gain little advantage over firms that do not engage in these practices. firms that are able to use human resource practices to develop socially complex human and organizational resources are at a competitive disadvantage when compared to firms that do not engage in these practices.

In a perfectly competitive market, the long-run market supply curve tends to be horizontal or nearly so. what is another way to state this fact? (a) market supply is much more elastic in the long run than the short run. (b) in the long run, average total cost is minimized. (c) in the long run, price equals marginal cost. (d) market supply is much less elastic in the long run than the short run.

Scoresby co. uses 6 machine hours and 2 direct labor hours to produce product x. it uses 8 machine hours and 16 direct labor hours to produce product y. scoresby's assembly and finishing departments have factory overhead rates of $240 per machine hour and $160 per direct labor hour, respectively. how much overhead cost will be charged to the two products? a. product x = $1,440; product y = $2,560 b. product x = $1,760; product y = $4,480 c. product x = $3,200; product y = $9,600 d. product x = $800; product y = $800