The ABC Corporation was formed on January 1,2019.The three initial owners each invested $100,000 cash and each received 10,000 shares of $1 par value common stock.Below are selected transactions that were completed during January,2019.
1.Issue shares of common stock to the owners.
2.Borrowed $80,000 on a one-year note payable.
3.Purchased land by signing a $70,000 note payable.
4.Paid $10,000 of accounts payable.
5.Purchased two service vehicles for cash at a cost of $24,000 each.
6.Purchased $2,000 of supplies on credit.
Prepare the journal entry on ABC's books for each transaction.Include a brief explanation for each entry.

What is the deferred tax liability for Sand at December 31,2015?

A) $10,000
B) $15,000
C) $20,000
D) $40,000

One criterion that managers sometimes apply in ranking investment proposals is called the:

A) profitability index.
B) annuity index.
C) investment opportunity index.
D) capital ranking approach.