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
The Braggs & Struttin'' Company manufactures an engine for carpet cleaners called the "Snooper." Budgeted cost and revenue data for the "Snooper" are given below, based on sales of

Limitation of break even charts Despite many advantages a break even chart suffers from the following limitations: 1) A break even chart is based upon a number of assumption

Critique of Performance Measurement This section brings together material from preceding data in this lesson in order to provide a critical appraisal of performance measurement

Characteristics of product life cycle The major characteristics of life-cycle concept are as follows: 1) The products have finite live and pass by the cycle of development i

Learning and Spillovers The cost of a value activity can decline over time due to learning that increases its efficiency. The methods by which learning can lower cost over tim

Explain the Ratio analysis according to kosher A ratio is the relation of the amount a to another b expressed as the ratio of a to b; a: b (a is to b) or a as simple fraction i

) Allgood Inc. has fixed costs of $480,000. It has a unit selling price of $6, unit variable cost of $4.50, and a target net income of $1,500,000. HOW TO COMPUTE

Algebraic method of the break even point The break even point can be computed by the following method: a) Units of sales volume . b) Budget total or in terms of money va

accounting process or accounting cycle

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