CHAPTER_19 - CHAPTER 19 ACCOUNTING FOR INCOME TAXES MULTIPLE CHOICE-Conceptual Answer b c b a a b c d b c d c d d d b a d No 21 22 23 24 P 25 S 26

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Unformatted text preview: CHAPTER 19 ACCOUNTING FOR INCOME TAXES . MULTIPLE CHOICE--Conceptual Answer b c b a a b c d b c d c d d d b a d No. 21. 22. 23. 24. P 25. S 26. P 27. S 28. S 29. S 30. S 31. 32. 33. 34. 35. 36. 37. 38. MULTIPLE CHOICE-- Conceptual (cont.) Answer c c b a d c d c b d d c c P S No. S Description Accounting for change in tax rate. Appropriate tax rate for deferred tax amounts. Recognition of tax benefit of a loss carryforward. Recognition of valuation account for deferred tax asset. Definition of uncertain tax positions. Recognition of tax benefit with uncertain tax position. Reasons for disclosure of deferred income tax information. Classification of deferred income tax on the balance sheet. Classification of deferred income tax on the balance sheet. Basis for classification as current or noncurrent. Income statement presentation of a tax benefit from NOL carryforward. Classification of a deferred tax liability. Procedures for computing deferred income taxes. 39. 40. 41. 42. 43. 44. 45. 46. 47. 48. 49. S 50. 51. These questions also appear in the Problem-Solving Survival Guide. These questions also appear in the Study Guide. *This topic is dealt with in an Appendix to the chapter. MULTIPLE CHOICE--Computational Answer c b a a d c b d c d b d a a a c a b a a d b c d b d b b No. 52 53. 54. 55. 56. 57. 58. 59. 60. 61. 62. 63. 64. 65. 66. 67. 68. 69. 70. 71. 72. 73. 74. 75. 76. 77. 78. 79. Description Calculate book basis and tax basis of an asset. Calculate deferred tax liability balance. Calculate current/noncurrent portions of deferred tax liability. Calculate income tax expense for the year. Calculate amount of deferred tax asset to be recognized. Calculate current deferred tax liability. Determine income taxes payable for the year. Calculate amount of deferred tax asset to be recognized. Calculate current/noncurrent portions of deferred tax liability. Calculate amount deducted for depreciation on the tax return. Calculate amount of deferred tax asset to be recognized. Calculate deferred tax asset with temporary and permanent differences. Calculate amount of DTA valuation account. Calculate current portion of provision for income taxes. Calculate deferred portion of income tax expense. Computation of total income tax expense. Calculate installment accounts receivable. Computation of pretax financial income. Calculate deferred tax liability amount. Calculate income tax expense for the year. Calculate income tax expense for the year. Computation of income tax expense. Computation of income tax expense. Computation of warranty claims paid. Calculate taxable income for the year. Calculate deferred tax asset amount. Calculate deferred tax liability balance. Calculate income taxes payable amount. Accounting for Income Taxes 19 - 3 MULTIPLE CHOICE--Computational (cont.) Answer a b b a c d b b d d b a a d c No. 80. 81. 82. 83. 84. 85....
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This note was uploaded on 10/31/2011 for the course ACCT 3223 taught by Professor Peck during the Spring '11 term at Texas State.

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CHAPTER_19 - CHAPTER 19 ACCOUNTING FOR INCOME TAXES MULTIPLE CHOICE-Conceptual Answer b c b a a b c d b c d c d d d b a d No 21 22 23 24 P 25 S 26

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