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Case A Case B Case C Case D Current-Year 2015 YTD operating income (loss) Projected income (loss) for the balance of the More likely than not. Not more likely than not. Future income considered more likely than not . Prior-Year 2014 Statutory tax rate Annual operating income (loss). . Future income considered more likely than not Prior-Year 2013 Statutory tax rate Annual operating income (loss). Future income considered more likely than not $ (80,000) $(80,000) $ 50,000 $(20,000) year considered: 120,000 (80,000) (40,000) 30,000 20,000 80,000 25% 25% 25% 25% (30,000) 35,000 20,000 10,000 15,000 (40,000) 5,000 15% 15% 15% 10,000 (20,000) 30,000

Case A Case B Case C Case D Current-Year 2015 YTD operating income (loss) Projected income (loss) for the balance of the More likely than not. Not more likely than not. Future income considered more likely than not . Prior-Year 2014 Statutory tax rate Annual operating income (loss). . Future income considered more likely than not Prior-Year 2013 Statutory tax rate Annual operating income (loss). Future income considered more likely than not $ (80,000) $(80,000) $ 50,000 $(20,000) year considered: 120,000 (80,000) (40,000) 30,000 20,000 80,000 25% 25% 25% 25% (30,000) 35,000 20,000 10,000 15,000 (40,000) 5,000 15% 15% 15% 10,000 (20,000) 30,000

Intermediate Accounting: Reporting And Analysis
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter18: Accounting For Income Taxes
Section: Chapter Questions
Problem 21E: Uncertain Tax Position At the end of the current year, Boyd Company claims a 200,000 tax credit on...
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The current-year 2015 statutory tax rate is 30%. For each of the following cases, determine the 2015 year-to-date (YTD) tax benefit traceable to the YTD operating loss.

Case A Case B Case C Case D Current-Year 2015 YTD operating income (loss) Projected income (loss) for the balance of the More likely than not. Not more likely than not. Future income considered more likely than not . Prior-Year 2014 Statutory tax rate Annual operating income (loss). . Future income considered more likely than not Prior-Year 2013 Statutory tax rate Annual operating income (loss). Future income considered more likely than not $ (80,000) $(80,000) $ 50,000 $(20,000) year considered: 120,000 (80,000) (40,000) 30,000 20,000 80,000 25% 25% 25% 25% (30,000) 35,000 20,000 10,000 15,000 (40,000) 5,000 15% 15% 15% 10,000 (20,000) 30,000
Transcribed Image Text:Case A Case B Case C Case D Current-Year 2015 YTD operating income (loss) Projected income (loss) for the balance of the More likely than not. Not more likely than not. Future income considered more likely than not . Prior-Year 2014 Statutory tax rate Annual operating income (loss). . Future income considered more likely than not Prior-Year 2013 Statutory tax rate Annual operating income (loss). Future income considered more likely than not $ (80,000) $(80,000) $ 50,000 $(20,000) year considered: 120,000 (80,000) (40,000) 30,000 20,000 80,000 25% 25% 25% 25% (30,000) 35,000 20,000 10,000 15,000 (40,000) 5,000 15% 15% 15% 10,000 (20,000) 30,000
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