Chapter_19_Solutions

Chapter_19_Solutions - E19-6 (a) (b) (c) (d) (e) (f) (g)...

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E19-6 (a) 2 (b) 1 (c) 3 (d) 1 (e) 2 (f) 3 (g) 2 (h) 3 (i) 3 (j) 1 (k) 1
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E19-2 (a) Pretax financial income for 2010 350,000 Excess of tax depr. over book depr. (40,000) Rent received in advance 25,000 Taxable income 335,000 (b) Income Tax Expense 140,000 Deferred Tax Asset (25,000*.4) 10,000 Income Tax Payable (335,000*.4) 134,000 Deferred Tax Liability (40,000*.4) 16,000 (c) Income Tax Expense 136,000 Deferred Tax Asset (10,000*.4) 4,000 Income Tax Payable (325,000*.4) 130,000 Deferred Tax Liability (25,000*.4) 10,000
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E19-5 (a) Taxable income for 2010 115,000 Enacted tax rate 40% Income tax payable 46,000 (b) Income Tax Expense 80,000 Deferred Tax Asset (35,000*.4) 14,000 Income Tax Payable (115,000*.4) 46,000 Deferred Tax Liability (220,000*.4 - 40,000) 48,000 (c) Income before income taxes 200,000 Income tax expense Current 46,000 Deferred 34,000 80,000 Net income 120,000
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E19-13 (a) Income Tax Expense 187,000 Income Tax Payable 136,000 Deferred Tax Liability 51,000 Taxable income 340,000 Tax rate 40% Income tax payable for 2010 136,000
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Chapter_19_Solutions - E19-6 (a) (b) (c) (d) (e) (f) (g)...

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