![subject](/tpl/images/cats/ekonomika.png)
Isaac Inc. began operations in... Isaac Inc. began operations in January 2021. For some 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 2021, Isaac had $670 million in sales of this type. Scheduled collections for these sales are as follows:
2021 $81 million
2022 127 million
2023 127 million
2024 160 million
2025 175 million
$670 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. Ignoring operating expenses and additional sales in 2022, what deferred tax liability would Isaac report in its year-end 2022 balance sheet?
![ansver](/tpl/images/cats/User.png)
Answers: 1
![](/tpl/images/ask_question.png)
![](/tpl/images/ask_question_mob.png)
Other questions on the subject: Business
![image](/tpl/images/cats/ekonomika.png)
![image](/tpl/images/cats/ekonomika.png)
Business, 22.06.2019 23:30, katiebaby4109
Sole proprietorships produce more goods and services than does any other form of business organization.
Answers: 2
![image](/tpl/images/cats/ekonomika.png)
Business, 23.06.2019 00:00, destinyranson
Which of the following is not a factor to consider when deciding whether to accept a special order? whether this order will hurt the brand name of the company whether other potential orders would be more profitable whether additional fixed costs would need to be incurred whether the offered price is sufficient to cover prime costs and fixed overhead allocated all of the above
Answers: 2
![image](/tpl/images/cats/ekonomika.png)
Business, 23.06.2019 03:50, beabivine7023
John is a journalist he went to a product demonstration for a new computer some of what he heard was informative while the rest was meant to persuade consumers to buy the product which two statements in the excerpt are persuasive rather than informative
Answers: 2
You know the right answer?
Isaac Inc. began operations in... Isaac Inc. began operations in January 2021. For some property sal...
Questions in other subjects:
![Konu](/tpl/images/cats/istoriya.png)
![Konu](/tpl/images/cats/mat.png)
Mathematics, 15.04.2020 04:39
![Konu](/tpl/images/cats/mat.png)
Mathematics, 15.04.2020 04:39
![Konu](/tpl/images/cats/mat.png)
![Konu](/tpl/images/cats/istoriya.png)
History, 15.04.2020 04:39
![Konu](/tpl/images/cats/obshestvoznanie.png)
![Konu](/tpl/images/cats/mat.png)
![Konu](/tpl/images/cats/mat.png)
![Konu](/tpl/images/cats/en.png)
English, 15.04.2020 04:39
![Konu](/tpl/images/cats/en.png)
English, 15.04.2020 04:39