Deferred tax assets and liabilitie, Managerial Accounting

Prepare a multiple step income statement, and classified balance sheet for XYZ Corporation for 2013 in good form. The income statement should include the proper earnings per share calculations.  You are also required to providethe following:

  1. A listing of the deferred tax assets and liabilities. 
  2. The determination of the earnings per share calculations.
  3. Adjusted trial balance as of 12/31/2013.

For this assignment, only the specified schedules are required, i.e., no text.  Round account balances to the nearest dollar and per share amounts to the nearest cent.  For the balance sheet you will need to classify the leases as current or noncurrent, however for deferred taxes, classify the entire deferred tax effect as noncurrent.

Assume the following tax regulations:

Warranty costs are deducted when claims are fulfilled.

Pension costs are deductible in the amount of the contribution.

Depreciation is calculated using the double declining balance method.

All leases are taxed as operating leases.

The firm receives a deduction equal to the employee's gain on the exercise of the option when the option is exercised.

Interest expense on the zero-coupon convertible bond is fully tax-deductible.

Posted Date: 3/7/2013 5:21:40 AM | Location : United States







Related Discussions:- Deferred tax assets and liabilitie, Assignment Help, Ask Question on Deferred tax assets and liabilitie, Get Answer, Expert's Help, Deferred tax assets and liabilitie Discussions

Write discussion on Deferred tax assets and liabilitie
Your posts are moderated
Related Questions
Scenario - Ahi Corporation is one of your clients in Hawaii. The company had a good year last year and owes the IRS $100,000,000, due on March 15. There are no penalties or interes

Define role of Management Accountant The main role of management accountant is defined below. Planner e.g. budgeting Information provider e.g. operating statement

#quesXERCISE 3-15 Departmental Overhead Rates [LO1, LO2, LO3] Diewold Company has two departments, Milling and Assembly. The company uses a job-order costing system and computes a


Relevant costs and benefits for operating decisions: In operating decisions, concentration is on best use of existing capacity. Incremental analysis based on differential cost

Stellar Packaging Products and its primary customer, Estrella Coffee, are deciding on appropriate costing systems for their operations. Stellar Packaging Products’ manufacturing is

Explain the Investment versus Speculation? In brief describes the following terms: a) Investment versus Speculation. b) Active and Passive Equity Management c) Systematic v

advantage and disadvantage of incremental budget

Explain Functional classification a)  Liquidity ratio: these are the ratio which measures the short term solvency or financial position of a firm. These ratios are calculati

Airlines give away millions of tickets each year through their frequent flyer programs, with the typical airline awarding a free ticket for each 25,000 miles flown on the airline.