Accounting

BRIEF EXERCISE 19-8 Income sooner income imposees$195,000 Income tax set coldcock Current$48,000 Deferred 30,000 78,000 last-place income$117,000 BRIEF EXERCISE 19-10 Year| clipping to come taxable tote up| X| assess Rate| =| Deferred tax financial obligation| 2013| $ 42,000| 34%| $ 14,280| 2014| 244,000| 34%| 82,960| 2015| 294,000| 40%| 117,600| | | | $214,840| BRIEF EXERCISE 19-14 Income Tax deliver Receivable ($350,000 X. 40)140,000 acquire imputable to expiry Carryback140,000 Deferred Tax plus ($500,000 $350,000) X .

40 60,000 Benefit Due to Loss Carryfor ward 60,000 Benefit Due to Loss Carryforward 60,000 Allowance to Reduce Deferred Tax Asset to Expected manageable Value 60,000 EXERCISE 19-1 (1520 minutes) (a)Pretax financial income for 2012$400,000 Temporary tubercle resulting in future taxable amountsin 2013 (55,000) in 2014 (60,000) in 2015 (75,000) taxable income for 2012$210,000 Taxable income for 2012$210,000 Enacted tax tempo30% Income taxes payable for 2012$ 63,000 (b)| | Future Years| | | | 2013| 2014| 2015| gist| | Future taxable (deductible) amounts| $55,000| $60,000| $75,000| $190,000| | Tax rate| X 30%| X 30%| X 30%| | | Deferred tax liability (asset)| $16,500| $18,000| $22,500| $ 57,000| Deferred tax liability at the leftover of 2012$ 57,000 Deferred tax liability at the beginning of 2012 0 Deferred tax model hatful for 2012 (increase in deferred tax liability) 57,000 Current tax expense for 2012    (Income taxes payable) 63,000 ! Income tax expense for 2012$120,000 Income Tax Expense120,000 Income Taxes Payable63,000 Deferred Tax Liability57,000 (c)Income before income taxes...If you want to get a full essay, order it on our website: OrderCustomPaper.com

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