last_case - Part A 2013 Pretax financial Income Permanent...

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Part A 2013 Pretax financial Income 412,000 Permanent Differences Municipal Bond Interest Revenue (28,000) Fines and Penalties 26,000 (2,000) Temporary Differences Installment Sales in I/S (560,000) Installment Sales for Tax 112,000 Depreciation (18,000) Warranty Expense on I/S 200,000 Warranty Expense for Tax (44,000) (310,000) Taxable Income in 2013 100,000 Enacted Tax Rate 50% Income Taxes Payable 50,000 Part B Future Taxable (Deductible) Amounts 2014 2015 2016 2017 2018 Total Tax Rate DTA DTL Installment Sales 112,000 112,000 112,000 112,000 448,000 40% 179,200 Depreciation (82,800) (13,680) 27,792 27,792 58,896 18,000 40% 7,200 Warranty Expense (56,000) (100,000) (156,000) 40% 62,400 Total Deferred Tax Liability 124,000 Part C 2013 Income Tax Expense 174,000 Income Tax Payable 50,000 Deferred Tax Liability 124,000 Part D 2014 Pretax Financial Income 504,800 Permanent Differences Municipal Bond Interest Revenue (24,000) (24,000) Temporary Differences Loss from Pending Litigation 172,000
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This note was uploaded on 04/21/2008 for the course ACG 4133c taught by Professor Ajinka during the Spring '08 term at University of Florida.

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last_case - Part A 2013 Pretax financial Income Permanent...

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