Terminology, Relationships, Computations, Entries

E19-7B (Terminology, Relationships, Computations, Entries)


Don't use plagiarized sources. Get Your Custom Essay on
Terminology, Relationships, Computations, Entries
Just from $10/Page
Order Essay

Complete the following statements by filling in the blanks.

(a) If a $150,000 balance in Deferred Tax Liability was computed by use of a 30% rate, the underlying cumulative temporary difference amounts to $_______.

(b) An income statement that reports current tax benefit of $63,000 and deferred tax expense of $19,000 will report total income tax ________ of $________.

(c) If a taxable permanent difference originates in 2012, it will cause taxable income for 2012 to be ________ (less than, greater than) pretax financial income for 2012.

(d) If the income statement shows total income tax expense of $186,000 and deferred tax expenses of $45,000, the total taxes due on the tax return for the period are _______.

(e) If total tax expense is $225,000 and the current expense is $155,000, then the deferred tax _______ (expense, benefit) is $_______.

(f) In a period in which a deductible temporary difference reverses, the reversal will cause taxable income to be _______ (less than, greater than) pretax financial income.

(g) An decrease in the Deferred Tax Assets account on the balance sheet is recorded by a _______ (debit, credit) to the Income Tax Expense account.

(h) If a corporation’s “Income tax payable” on the balance sheet totals $100,000, the company made estimated payments during the year totaling $40,000, and the tax rate is 40%, taxable income equals $________.

(i) A valuation account _______ the balance reported in the balance sheet for a deferred tax asset to the amount expected to be realized.

(j) Deferred taxes ________ (are, are not) recorded to account for temporary differences.

Order a unique copy of this paper
(550 words)

Approximate price: $22

Basic features
  • Free title page and bibliography
  • Unlimited revisions
  • Plagiarism-free guarantee
  • Money-back guarantee
  • 24/7 support
On-demand options
  • Writer’s samples
  • Part-by-part delivery
  • Overnight delivery
  • Copies of used sources
  • Expert Proofreading
Paper format
  • 275 words per page
  • 12 pt Arial/Times New Roman
  • Double line spacing
  • Any citation style (APA, MLA, Chicago/Turabian, Harvard)

Our guarantees

We value our customers and so we ensure that what we do is 100% original..
With us you are guaranteed of quality work done by our qualified experts.Your information and everything that you do with us is kept completely confidential.

Money-back guarantee

You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.

Read more

Zero-plagiarism guarantee

The Product ordered is guaranteed to be original. Orders are checked by the most advanced anti-plagiarism software in the market to assure that the Product is 100% original. The Company has a zero tolerance policy for plagiarism.

Read more

Free-revision policy

The Free Revision policy is a courtesy service that the Company provides to help ensure Customer’s total satisfaction with the completed Order. To receive free revision the Company requires that the Customer provide the request within fourteen (14) days from the first completion date and within a period of thirty (30) days for dissertations.

Read more

Privacy policy

The Company is committed to protect the privacy of the Customer and it will never resell or share any of Customer’s personal information, including credit card data, with any third party. All the online transactions are processed through the secure and reliable online payment systems.

Read more

Fair-cooperation guarantee

By placing an order with us, you agree to the service we provide. We will endear to do all that it takes to deliver a comprehensive paper as per your requirements. We also count on your cooperation to ensure that we deliver on this mandate.

Read more

Calculate the price of your order

550 words
We'll send you the first draft for approval by September 11, 2018 at 10:52 AM
Total price:
The price is based on these factors:
Academic level
Number of pages
Open chat
You can contact our live agent via WhatsApp! Via +1 817 953 0426

Feel free to ask questions, clarifications, or discounts available when placing an order.

Order your essay today and save 30% with the discount code STARS