ACC 309 - 3-2 Homework_ch 18 .docx - ACC 309 | Module Three | 3-2 Homework Ch 18 1 MC 18-04 STEP 1 STEP 2 STEP 3 Deferred tax liability =(depreciable

ACC 309 - 3-2 Homework_ch 18 .docx - ACC 309 | Module Three...

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ACC 309 | Module Three | 3-2 Homework: Ch 18 1. MC. 18-04 STEP 1: Deferred tax liability = (depreciable assets for financial purpose – depreciable assets for tax purposes) * tax rate = (24,500 – 20,000) * 30% = $1,350 STEP 2: Deferred tax asset = Estimated liability * tax rate = 3,500 * 30% = 1,050 STEP 3: Non-Current DTL of = 1,350 – 1,050 = 300 Answer is: A. $300 2. MC. 18-08 Answer is: B. $19,800
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3. RE. 18-06 Answers (a) Ending future deductible amount $2,000 Enacting future tax rate (%) 30% (b) Ending deferred tax asset $600 Beginning deferred tax asset -500 (c) Change (increase) in deferred tax asset
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