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
Adm2341 manufactures and sells four different products. The following data are extracted from the most recent financial statements:   Products

The revolving credit facility will be specified by the banker to the customer through providing specific amount of credit facility for a continuous basis. The borrower will not be

Ask question Toll House makes chocolate chip cookies. The cookies pass through three production processes: mixing the cookie dough, baking, and packaging. Toll House uses process c

Difference between managerial accounting and financial accounting are mentioned below Audience – Internal Vs External Format of Reporting – Free format Vs prescribed

What are the Changing role of management accounting 1. Focus on customer scarification: customer satisfactions are continuously gaining high priority in management thinking i

Benefit of product life cycle costing The benefits of product life cycle costing are summarized as follows: 1) The product life cycle costing results in earlier actions to g

QUEUING THEORY When limited facilities fail/delays to satisfy demands made upon them, problems occur which generate queues or waiting lines. Illustrations are: •    Customers

Cost driver analysis Cost drivers are factors, which determine the costs of an activity i.e. a change in the cost driver will cause a change in the level of total cost relate

Feed-forward control system Feed-forward control system describes a system in which deviations in the system are anticipated in a forecast of future results, so that corrective

Budgetary control According to CIMA the establishment of budgets relating the responsibilities of executive to the requirement of a policy and the continuous comparison of achi