Q1)

AMC will claim a tax credit of $60 million (direct reduction in taxes payable) this year. AMC also believes the likelihood that $60 million, $36 million, or $12 million tax credit will be sustained upon tax audit next year is 25%, 30%, and 45%, respectively. Otherwise, AMCs taxable income is $520 million for the year. The effective tax rate is 25%. What is AMCs associated Liability Uncertain tax positions for the year? a. $24 million. b. None of the choices are correct. c. $70 million. d. $94 million. e. $130 million.

Q2)

On January 1, 2021, MCollum Corporation granted 21 million incentive stock options to division managers, each permitting holders to purchase one share of the companys $1 par common shares within the next 5 years, but not before December 31, 2023 (the vesting date). The exercise price is the market price of the shares on the date of grant, $8 per share. The fair value of the options is $5 per option. No forfeitures are anticipated. What is a part of journal entry related to this transaction for year 2022?

	a.	Paid-in capital-Stock options is credited by $35 million.
	b.	Compensation expense is debited by $25 million.
	c.	Paid-in capital-Expired stock options is credited by $35 million.
	d.	Compensation expense is credited by $35 million.
	e.	Paid-in capital-Stock options is credited by $25 million.

I NEED BOTH ANSWERED , THANK YOU