P 16.04 – Zekany Corporation
Intermediate Accounting
Spiceland, Nelson, and Thomas
10th Edition
Given the asset cost, the depreciation per year, the accounting income before taxes, and depreciation…. prepare journal entries for the income tax.
Given the asset cost, the depreciation per year, the accounting income before taxes, and depreciation…. prepare journal entries for the income tax.
Given the year one pretax accounting incomes for the four-year period, the investment on the sale of the property, and the interest on the sale of the property along with the tax rate… prepare the year-end journal entries to record income taxes for the four years.
They give you the income statement for 4 years along with the reported income collected each year and the tax rate. Asks for the journal entries for each year including the tax expense, deferred tax liability, and the income taxes payable.
Given information relating to the differences between pretax accounting income and taxable income… prepare a journal entry for the income taxes along with calculating net income and the deferred tax amounts.
Given the carrying amount and tax basis for numerous different assets and liabilities… determine the total deferred tax asset and liability amounts and accounts, the income tax payable, and prepare a journal entry to record income taxes.
Given the pretax operating loss, the penalty cost, the estimated loss, the tax rate, and pretax accounting income in the second year… prepare a journal entry for the income tax benefit, determine net operating loss, and lastly prepare a journal entry for income taxes in the second year.
Given the pretax operating loss, the penalty cost, the estimated loss, the tax rate, the taxable income for years before… prepare a journal entry for the income tax benefit, determine the net operating loss, and lastly prepare a journal entry for income taxes for the second year.
Given information regarding the cash collection percentages, pretax accounting income, tax rate, and likelihood of taxes being sustained… calculate tax benefit recognized on both tax return and financial statements, and the amount deferred, while also preparing journal entries for income tax.
Given four years worth of income(loss) data along with tax rates for each year, determine the income tax refund receivable due to the NOL carryback.
Estimate the effective tax rate and determine why it is different from the federal statutory rate.