An integer programming solution can never produce a greater profit objective than the LP solution to the same problem
Indicate whether the statement is true or false
TRUE
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Tyler Company, which began operations at the beginning of 2018, has provided you with the following information:GAAP (book) income before taxes was $1,600,000 during 2018 and $2,000,000 during 2019.
Municipal bond interest of $40,000 was earned in both 2018 and 2019. Depreciation expense for tax purposes exceeded depreciation for GAAP (book) purposes by $180,000 during 2018 and by $150,000 during 2019. The depreciation temporary difference created during 2018 and 2019 will reverse equally during the next three years (2020-2022). A three-year insurance policy costing $54,000 was purchased using cash at the beginning of 2018. The policy was deducted in the income statement equally for each year of the policy. The amount allowable as a deduction for tax purposes of $24,000 was taken in 2018, and $15,000 will each be deducted in 2019 and in 2020. Revenues of $600,000 from various long-term construction contracts was recognized for GAAP (book) purposes during 2018. For tax purposes, $100,000 of those revenues were recognized during 2018, the remaining revenues will be recognized equally during 2019 and 2020. During 2019, a customer paid $325,000 in advance for services to be provided during 2019 and 2020. Services valued at $120,000 were provided during 2019. The income tax rate was 35% during 2018 and 2019 and 40% for all subsequent years. Requirements: Determine taxable income for 2018. Prepare the journal entry to record income tax expense for the year ended December 31, 2018. Determine taxable income for 2019. Prepare the journal entry to record income tax expense for the year ended December 31, 2019. What will be an ideal response?
A company purchases 800 shares of its $50 par value common stock at $55 per share. It then reissues 120 shares at $58 per share. The entry upon reissue of the stock is :
A) Cash 6,960 Treasury Stock-Common 6,600Paid-in Capital, Treasury Stock 360 B) Cash 6,960 Treasury Stock-Common 6,960 C) Cash 6,960 Paid-in Capital, Treasury Stock 6,96 D) Cash 6,960 Treasury Stock-Common 6,000Retained Earnings 960
Value Meal Deals at a fast food restaurant in which you get a sandwich, fries, and a drink for one price are an example of price bundling
Indicate whether the statement is true or false
Which type of purchase is most likely to be the result of joint decision-making?
A. children's toys B. breakfast cereal C. medicine D. home appliances E. groceries