In 2021, due to a change in marketing forecasts, Barney Corporation reduced the projected life of its patent for producing round dice. The cumulative patent amortization prior to 2021 would have been $10 million higher had the new life been used. Barney's tax rate is 25%. Barney's retained earnings as of December 31, 2021, would be:

On December 28, 2021, Tristar Communications sold 19 units of its new satellite uplink system to various customers for $15,000 each. The terms of each sale were 3/15, n/30. Tristar uses the gross method to account for sales discounts. In what year will income before tax be affected by discounts, assuming that all customers paid the net-of-discount amount on January 6, 2022? By how much? in income before tax will be by

Assume that The Bell Company operates in an industry for which NOL carryback is allowed. The Bell Company had the following operating results:   Year Income (loss) Tax rate Income tax   2018   40,000       25 %     10,000   2019   40,000       25 %     10,000   2020   50,000       30 %     15,000   2021   (130,000 )     30 %     0                                What is the Deferred tax Asset in 2021?

Norfolk Southern operates in an industry for which NOL carryback is not allowed, and had the following pretax income (loss) over its first three years of operations            2019 $ 1,200,000     2020   (900,000 )   2021   1,500,000         For each year there were no deferred income taxes and the tax rate was 25%. No valuation account was deemed necessary for the deferred tax asset as of December 31, 2020. What was Norfolk Southern's income tax expense in 2021?