Used the installment method for tax purposes

Assignment Help Financial Accounting

Reference no: EM13749184

2006 2007 2008 2009 2010

Installment receivables as of December 31 $190.1 $351.9 $526.2 $559.4 $489.1

Pretax Profit as reported 332.6 415.3 478.2 492.5 461.3

Gross margin percentage 34.6% 35.1% 34.2% 33.4% 32.2%

If Silver Appliance Company had used the installment method for tax purposes in the years 2006–2010, how different would its tax payments have been in each of those years? What would the year-end balance in deferred taxes have been in each of those years? (Round calculations to the nearest $10)

Reference no: EM13749184

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