Identify future taxable amounts and future deductible amounts The amount of difference between the pre-tax accounting income and taxable income, and the difference between the amount of assets and liabilities reported in the financial reports and the amount of assets and liabilities as per the company’s tax records, is referred as temporary difference. Those temporary difference lead to some future taxable amounts or some future deductible amounts. To identify: Future taxable amounts or future deductible amounts as a consequence of each temporary difference.

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Chapter 16, Problem 16.6E

To determine

Identify future taxable amounts and future deductible amounts

The amount of difference between the pre-tax accounting income and taxable income, and the difference between the amount of assets and liabilities reported in the financial reports and the amount of assets and liabilities as per the company’s tax records, is referred as temporary difference. Those temporary difference lead to some future taxable amounts or some future deductible amounts.

To identify: Future taxable amounts or future deductible amounts as a consequence of each temporary difference.

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