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

Normal 0 false false false EN-IN X-NONE X-NONE MicrosoftInternetExplorer4

Definition of the Mission and Goals of the Organization Generally the organization has already established mission and aim statements. Though, it may be essential to redefine

Describe Benchmarking It is the process of measuring products service or activities against the best level of performance which may be found either inside or outside the organi

What is cvp?

Winner says, "It is clear that in decades to come a great many things like telephone answer machines and automatic bank tellers will become, in effect, members of our society." Mor

identify and briefly describe four trends in macro market environment which influence on the selected industry?

Interest coverage ratio (or debt service ratio)  Meaning: this ratio establishes a relationship among net profits before interest and taxes and interest on long debt. Obj

Implementing management accounting and control innovations are often problematic. Provide a brief commentary around the key factors necessary to give such innovations the best chan

Painter Ltd, which manufactures and sells a single product, is currently producing and selling 102,000 units per month, which represents 85% of its full capacity. Total monthly cos