How would the acquisition of a building be reported

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Reference no: EM133392291

Question: Alvis Corporation reports pretax accounting income of $400,000, but due to a single temporary difference, taxable income is only $250,000. At the beginning of the year, no temporary differences existed.

Required:

Assuming a tax rate of 35%, calculate the tax payable for the company.

How much will the deferred tax assets or liabilities be for the period?

What will Alvis report in the balance sheet about income taxes?

Carter Containers sold marketable securities, land, and common stock for $30 million, $15 million, and $40 million, respectively. Carter also purchased treasury stock, equipment, and a patent for $21 million, $25 million, and $12 million, respectively. Required:
What amount should Carter report as net cash from investing activities?

What amount should Carter report as net cash from financing activities?

How would the acquisition of a building be reported on a statement of cash flows if purchased by issuing a mortgage note payable in addition to a significant cash down payment?

Reference no: EM133392291

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