By signing my name below, I affirm that I have not accepted or discussed and will not provide or
discuss information about the contents of this assignment from, to, or with another student.
Print Your Name
Print Your Section Number (e.g. T/TH 9 am or Sec. 006): ______________________________
Assignment 9 (Chapter 16) (Total Possible Points: 100)
You can turn in either typed or handwritten homework.
, make sure the different
problems and answers are clearly marked. If a multipart question, make sure it is clear
which part the answer relates to. In addition, make sure to circle, highlight, or double
underline your final answers.
If you make it too difficult to find the answer within your work, I
will not count the answer correct. If you have multiple answers, I will not count it correct even if
one of the answers is correct. Staple multiple pages together and make sure your name is on each
page. If pages come loose without a name, the grading will be only on what is left attached.
Show your work
throughout. If your answer is wrong and you do not show your work, then I
cannot offer any partial credit. Round dollar amounts to the nearest cent ($3,500.0372
$3,500.04). Round percentages to the second decimal place (e.g. 35.027956%
Throughout the problems, assume corporations are calendar year tax period, accrual method
36 points total
) Assume the following businesses operate as corporations. For the year
requested, determine the amount of book-tax difference, whether they are favorable or
unfavorable, and whether they are permanent or temporary. (
3 points for each dollar
amount answer, 3 points for each favorable/unfavorable answer, and 3 points for each
On November 30, 2017, a restaurant ordered
$2,000 of wines and cheeses from the Wine
and Cheese Depot. The products were
dropped off in the first week of December
(2016). The bill was due by January 31, 2018.
On December 15, 2017, the restaurant told
the Depot them that the restaurant may only
be able to pay $1,000 of the final bill in 2018
as a food inspector was threatening to close
the business down unless they made costly
changes to the restaurant building. The
restaurant owners were not sure the restaurant
could afford the changes but were
n = $0