Create future deductible amounts or future taxable amounts

Assignment Help Financial Accounting

Reference no: EM131295697

Listed below are 10 causes of temporary. For each temporary difference, indicate (by letter) whether it will create future deductible amounts (D) or future taxable amounts (T). 1. Accrual of a loss contingency, tax-deductible when paid. 2. Newspaper subscriptions; taxable when received, recognized for financial reporting when earned. 3. Prepaid rent, tax-deductible when paid. 4. Accrued bond interest expense, tax-deductible when paid. 5. Prepaid insurance, tax-deductible when paid. 6. Unrealized loss from recording investments at fair value (tax-deductible when investments are sold). 7. Warranty expense; estimated financial reporting when products are sold; deducted for tax purposes when paid. 8. Advance rent receipts on an operating lease (as the lessor), taxable when received. 9. Straight-line depreciation for financial reporting; accelerated depreciation for tax purposes. 10. Accrued expense for employee post-retirement benefits, tax-deductible when subsequent payments are made.

Reference no: EM131295697

Questions Cloud

What is the apr with monthly? compounding : Your bank account pays interest with an EAR of 9%. What is the APR quote for this account based on semiannual? compounding? What is the APR with monthly? compounding?

Questions in the corresponding course discussion area : Please respond to all of the following questions in the corresponding Course Discussion Area:

Determine the selling price of the bonds : The Windsor Inc., a manufacturer of low-sugar, low-sodium, low-cholesterol TV dinners, would like to increase its market share in the Sunbelt. In order to do so, Windsor has decided to locate a new factory in the Panama City area. As the controller o..

How does the article relate to material covered in class : How does this article relate to material covered in class? Does the author's point of view agree or disagree with the class material? Does the article make sense? (Sometimes they don't).

Create future deductible amounts or future taxable amounts : Listed below are 10 causes of temporary. For each temporary difference, indicate (by letter) whether it will create future deductible amounts (D) or future taxable amounts (T). 1. Accrual of a loss contingency, tax-deductible when paid. 2. Newspaper ..

Reserve ratio and the simple deposit multiplier : What is the relationship between the required reserve ratio and the simple deposit multiplier (money Multiplier)?

What emission tax would achieve efficient level of control : What is the efficient level of pollution control (call it Q*)? Is the tax you calcu- lated in part (b) just right, too low, or too high to induce the efficient level of abatement? What emission tax would achieve the efficient level of control?

A linear function that expresses the companys cost : Lumyn Electronics is a family owned business. The company sold 128 TV remote controls in July and incurred a total cost of $1,700. In November they sold 248 TV remote controls and incurred a total cost of $3,500. Based on this information, find the f..

Mole on her leg seems to be getting larger : A patient calls the office, stating that she has noticed that a mole on her leg seems to be getting larger. You know from previous discussions with the patient that, she attends a local tanning salon on a regular basis. What will your response be?..

User Account

All Pages