18-Solutions to P18-2 - PROBLEM 18-2 (a) For non-current...

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PROBLEM 18-2 (a) For non-current future taxes: Future Tax Asset (Liability) Future taxable amounts: LT 2012 2013 2014 Total CCA vs. depreciation ($90,000) ($50,000) ($40,000) ($180,000) Tax rate enacted for the year 40% 38% 38% Future tax liability ($36,000) ($19,000) ($15,200) ($70,200) Future taxable amounts: LT 2012 2013 2014 Total Instalment accounts receivable ($36,000) ($36,000) ($72,000) Tax rate enacted for the year 38% 38% Future tax liability ($13,680) ($13,680) ($27,360) Future deductible amounts: LT 2012 2013 2014 Total Pension liability $ 30,000 $ 20,000 $ 10,000 $ 60,000 Tax rate enacted for the year 40% 38% 38% Future tax asset $ 12,000 $ 7,600 $ 3,800 $ 23,400 Future tax liability – non-current ($24,000) ($25,080) ($25,080) ($74,160)
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PROBLEM 18-2 (Continued) (a) (continued) For ‘current’ future taxes: Future tax asset (liability)___ Future deductible amounts: C 2012 Unearned royalties $ 76,000 Tax rate enacted for the year 40% Future tax asset $ 30,400
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18-Solutions to P18-2 - PROBLEM 18-2 (a) For non-current...

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