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AccountingIntermediate Accounting: Reporting And AnalysisAnalyzing Nestlé’s Income Tax Disclosures Obtain Nestlé’s 2017 annual report using the “Investor Relations” portion of its website (do a web search for Nestle investor relations). Required: 1. What was the total income tax expense relating to profit before taxes, associates and joint ventures for 2017? How much of this was current? How much was deterred? 2. What is the amount of Nestlé’s 2017 permanent differences? How does Nestle refer to permanent differences in its reconciliation of taxes? 3. What is the net amount of Nestlé’s deferred tax assets and liabilities at December 31, 2017? What are the three largest causes of temporary differences for Nestlé?
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Analyzing Nestlé’s Income Tax Disclosures Obtain Nestlé’s 2017 annual report using the “Investor Relations” portion of its website (do a web search for Nestle investor relations). Required: 1. What was the total income tax expense relating to profit before taxes, associates and joint ventures for 2017? How much of this was current? How much was deterred? 2. What is the amount of Nestlé’s 2017 permanent differences? How does Nestle refer to permanent differences in its reconciliation of taxes? 3. What is the net amount of Nestlé’s deferred tax assets and liabilities at December 31, 2017? What are the three largest causes of temporary differences for Nestlé?

BuyFind

Intermediate Accounting: Reporting...

3rd Edition
James M. Wahlen + 2 others
Publisher: Cengage Learning
ISBN: 9781337788281
BuyFind

Intermediate Accounting: Reporting...

3rd Edition
James M. Wahlen + 2 others
Publisher: Cengage Learning
ISBN: 9781337788281

Solutions

Chapter
Section
Problem 1GI
Problem 2GI
Problem 3GI
Problem 4GI
Problem 5GI
Problem 6GI
Problem 7GI
Problem 8GI
Problem 9GI
Problem 10GI
Problem 11GI
Problem 12GI
Problem 13GI
Problem 14GI
Problem 15GI
Problem 16GI
Problem 17GI
Problem 18GI
Problem 19GI
Problem 20GI
Problem 21GI
Problem 22GI
Problem 23GI
Problem 1MC
Problem 2MC
Problem 3MC
Problem 4MC
Problem 5MC
Problem 6MC
Problem 7MC
Problem 8MC
Problem 9MC
Problem 10MC
Problem 1RE
Problem 2RE
Problem 3RE
Problem 4RE
Problem 5RE
Problem 6RE
Problem 7RE
Problem 8RE
Problem 9RE
Problem 10RE
Problem 11RE
Problem 12RE
Problem 1E
Problem 2E
Problem 3E
Problem 4E
Problem 5E
Problem 6E
Problem 7E
Problem 8E
Problem 9E
Problem 10E
Problem 11E
Problem 12E
Problem 13E
Problem 14E
Problem 15E
Problem 16E
Problem 17E
Problem 18E
Problem 19E
Problem 20E
Problem 21E
Problem 1P
Problem 2P
Problem 3P
Problem 4P
Problem 5P
Problem 6P
Problem 7P
Problem 8P
Problem 9P
Problem 10P
Problem 11P
Problem 12P
Problem 13P
Problem 14P
Problem 1C
Problem 2C
Problem 3C
Problem 4C
Problem 5C
Problem 6C
Problem 7C
Problem 8C
Problem 9C
Chapter 18, Problem 9C
Textbook Problem

Analyzing Nestlé’s Income Tax Disclosures Obtain Nestlé’s 2017 annual report using the “Investor Relations” portion of its website (do a web search for Nestle investor relations).

Required:

  1. 1. What was the total income tax expense relating to profit before taxes, associates and joint ventures for 2017? How much of this was current? How much was deterred?
  2. 2. What is the amount of Nestlé’s 2017 permanent differences? How does Nestle refer to permanent differences in its reconciliation of taxes?
  3. 3. What is the net amount of Nestlé’s deferred tax assets and liabilities at December 31, 2017? What are the three largest causes of temporary differences for Nestlé?

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Chapter 18,
Problem 8C
Chapter 19,
Problem 1GI

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Chapter 18 Solutions

Intermediate Accounting: Reporting And Analysis
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Ch. 18 - What source is used to determine income tax...Ch. 18 - Identify the three groups of possible differences...Ch. 18 - How does the objective of tax reporting under the...Ch. 18 - What is a temporary difference? Give examples.Ch. 18 - What four principles did the FASB conclude were...Ch. 18 - What are the two objectives of accounting for...Ch. 18 - What are the three characteristics of a liability,...Ch. 18 - What are the three characteristics of an asset,...Ch. 18 - When does a corporation establish a valuation...Ch. 18 - List the steps necessary to measure and record a...
Ch. 18 - How does a corporation determine its deferred...Ch. 18 - Briefly describe the adjustment of a deferred tax...Ch. 18 - What is a permanent difference? Give two examples...Ch. 18 - Give two examples of permanent differences that...Ch. 18 - How is a corporations effective tax rate...Ch. 18 - Describe an operating loss carryforward. List the...Ch. 18 - Briefly summarize the GAAP for the financial...Ch. 18 - What is intraperiod income tax allocation? How...Ch. 18 - Why must a corporation match its income tax...Ch. 18 - How are deferred tax liabilities and assets...Ch. 18 - What are the four required disclosures a...Ch. 18 - What are the two steps that a company must...Ch. 18 - If a company believes that it is more likely than...Ch. 18 - Which of the following is not a cause of a...Ch. 18 - Which of the following is an argument in favor of...Ch. 18 - The FASB came to which of the following...Ch. 18 - Prior to and during 2019, Shadrach Company...Ch. 18 - At the beginning of 2019, Conley Company purchased...Ch. 18 - Oliver Company earned taxable income of 7,500...Ch. 18 - A permanent difference is a difference between...Ch. 18 - In 2019, Swope Company reports a pretax operating...Ch. 18 - Brooks Company reported a prior period adjustment...Ch. 18 - Which component of current income is not disclosed...Ch. 18 - Parker Company identifies depreciation as the only...Ch. 18 - Refer to RE18-1. Assume that Parkers taxable...Ch. 18 - In the current year, Madison Corporation had...Ch. 18 - Refer to RE18-3. Prepare the additional journal...Ch. 18 - Turnip Company purchased an asset at a cost of...Ch. 18 - Carrot Company has been profitable in the past and...Ch. 18 - Compute Radish Companys taxable income given the...Ch. 18 - Sky Company reports a pretax operating loss of...Ch. 18 - Tally Co. incurred a pretax operating loss of...Ch. 18 - Kline Company has the following items of pretax...Ch. 18 - Barth James Inc. has the following deferred tax...Ch. 18 - Cole Company had a deferred tax liability of 1,000...Ch. 18 - Future Taxable Amount Arrow Company began...Ch. 18 - Change in Tax Rates At the end of 2019, Sentry...Ch. 18 - Temporary Difference At the end of 2019, its first...Ch. 18 - Single Temporary Difference: Multiple Rates At the...Ch. 18 - Future Deductible Amount Pito Company has been in...Ch. 18 - Valuation Account At the end of 2019, its first...Ch. 18 - Deferred Tax Asset and Valuation Account Zeta...Ch. 18 - Incomc Taxes Then Company has been in operation...Ch. 18 - Originating and Reversing Difference Tanner...Ch. 18 - Multiple Temporary Differences Vickers Company...Ch. 18 - Multiple Tax Rates For the year ended December 31,...Ch. 18 - Temporary and Permanent Differences Lin has just...Ch. 18 - Temporary and Permanent Differences Assume the...Ch. 18 - Operating Loss At the end of 2019, Keil Company...Ch. 18 - Operating Loss At the end of 2019, its first year...Ch. 18 - Operating Loss Baxter Company began operations in...Ch. 18 - Intraperiod Tax Allocation Wright Company reports...Ch. 18 - Calculating Intraperiod Income Taxes EyeBeam...Ch. 18 - Disclosure of Intraperiod Tax Allocation Lester...Ch. 18 - Balance Sheet Presentation Thiel Company reports...Ch. 18 - Uncertain Tax Position At the end of the current...Ch. 18 - Definitions The FASB has defined several terms in...Ch. 18 - Temporary and Permanent Differences In the current...Ch. 18 - Multiple Temporary Differences Wilcox Company has...Ch. 18 - Interperiod Tax Allocation Klerk Company had four...Ch. 18 - Deferred Taxes: Multiple Rates Wicks Corporation...Ch. 18 - Interperiod Tax Allocation Quick Company reports...Ch. 18 - Deferred Tax Liability: Depreciation At the...Ch. 18 - Deferred Tax Liability: Depreciation Gire Company...Ch. 18 - Interperiod Tax Allocation Peterson Company has...Ch. 18 - Operating Loss Ross Company has been in business...Ch. 18 - Balance Sheet Reporting and Tax Rate Change At the...Ch. 18 - Comprehensive Colt Company reports pretax...Ch. 18 - Comprehensive At the beginning of 2019, Norris...Ch. 18 - Comprehensive Jayryan Company sells products in a...Ch. 18 - Asset/Liability Method and Temporary Differences...Ch. 18 - Interperiod Tax Allocation A friend in a business...Ch. 18 - Operating Losses The Internal Revenue Code allows...Ch. 18 - Interperiod and Intraperiod Tax Allocation Income...Ch. 18 - Deferred Tax Assets and Liabilities A friend says...Ch. 18 - Intel-period Tax Allocation Chris Green, CPA, is...Ch. 18 - Permanent and Temporary Differences To implement...Ch. 18 - Analyzing Coca-Colas Income Tax Disclosures Obtain...Ch. 18 - Analyzing Nestls Income Tax Disclosures Obtain...

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