GB 112/212 MANAGERIAL ACC. W/ACCESS >C<
17th Edition
ISBN: 9781260218831
Author: Libby
Publisher: MCG CUSTOM
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Question
Chapter 9, Problem 9.22E
1.
To determine
Identify the amount of income tax payable for Year 2 by Corporation N.
2.
To determine
Explain the reason for the management to incur the cost of maintaining separate tax and financial accounting records.
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Students have asked these similar questions
To compute the provision for income tax, the following
3. What amount of income tax payable should be reported?
4. What amount of total tax expense should be reported:
Fecorino Company had pretaxr financial income of P2,500,00g
The entity made corporate estimated tax payment in the
Tax depreciation in excess of financial statement amount 160,000
Problem 16-30
in the current year.
amount of 180, 000 during the current year.
information was provided:
S60,000
Interest income received
Tax depreciation in excess of financial statement amount
280,000
S0%
Rent received in advance
Corporate tax rate
1. What amount of permanent difference between boo
income and taxable income existed at year-end?
a. 520,000
b. 360,000
c. 800,000
d. 280,000
2. What amount of current tax expense should be reported?
a. 786,000
b. 510,000
c. 750,000
d. 678,000
3. What amount of income tax pavable should be reporer
a. 498,000
b. 606,000
c. 330,000
d. 570,000
a. 714,000
b. 726,000
c. 642,000
d. 594,000
4. What amount of total tax expense should be reported?
To compute the provision for income tax, the following
Pecorino Company had pretax financial income of P2,500,000
The entity made corporate estimated tax payment in the
Problem 16-30 (IFRS)
in the current year.
amount of 180,000 during the current year.
information was provided:
Interest income received
Tax depreciation in excess of financial statement amount 160,000
360,000
Rent received in advance
Corporate tax rate.
280,000
30%
1. What amount of permanent difference between book
income and taxable income existed at year-end?
a. 520,000
b. 360,000
c. 800,000
d. 280,000
2. What amount of current tax expense should be reported?
a. 786,000
b. 510,000
c. 750,000
d. 678,000
3. What amount of income tax payable should be reported
a. 498,000
b. 606,000
c. 330,000
d. 570,000
a. 714,000
b. 726,000
c. 642,000
d. 594,000
570
(To help answer this question, create an Income Taxes Payable T-account and insert the beginning andending balances.) If the company debited Income Tax Expense and credited Income Taxes Payable $700during the year, what is the total amount of the debits recorded in the Income Taxes Payable account?What does the amount of these debits represent?
Chapter 9 Solutions
GB 112/212 MANAGERIAL ACC. W/ACCESS >C<
Ch. 9 - Prob. 1QCh. 9 - Prob. 2QCh. 9 - Prob. 3QCh. 9 - Prob. 4QCh. 9 - Prob. 5QCh. 9 - Prob. 6QCh. 9 - Prob. 7QCh. 9 - Define deferred revenue. Why is it a liability?Ch. 9 - Prob. 9QCh. 9 - Define working capital. How is working capital...
Ch. 9 - Prob. 11QCh. 9 - When a company signs a capital lease, does it...Ch. 9 - Prob. 13QCh. 9 - Define annuity.Ch. 9 - Prob. 15QCh. 9 - Prob. 16QCh. 9 - What is the present value factor for an annuity of...Ch. 9 - The university golf team needs to buy a car to...Ch. 9 - Which of the following best describes accrued...Ch. 9 - Prob. 4MCQCh. 9 - A company is facing a lawsuit from a customer. It...Ch. 9 - Which of the following transactions would usually...Ch. 9 - How is working capital calculated? a. Current...Ch. 9 - Prob. 8MCQCh. 9 - SmallFish Company borrowed 100,000 at 8% interest...Ch. 9 - Prob. 10MCQCh. 9 - Prob. 9.1MECh. 9 - Computing and Interpreting Accounts Payable...Ch. 9 - Prob. 9.3MECh. 9 - Prob. 9.4MECh. 9 - Prob. 9.5MECh. 9 - Prob. 9.6MECh. 9 - Prob. 9.7MECh. 9 - Prob. 9.8MECh. 9 - Prob. 9.9MECh. 9 - Computing the Present Value of an Annuity What is...Ch. 9 - Prob. 9.11MECh. 9 - Prob. 9.12MECh. 9 - Prob. 9.1ECh. 9 - Recording Payroll Costs Paul Company completed the...Ch. 9 - Prob. 9.3ECh. 9 - Recording a Note Payable through Its Time to...Ch. 9 - Prob. 9.5ECh. 9 - Prob. 9.6ECh. 9 - Prob. 9.7ECh. 9 - Prob. 9.8ECh. 9 - Reporting Contingent Liabilities Jones Soda is a...Ch. 9 - Prob. 9.10ECh. 9 - Prob. 9.11ECh. 9 - Prob. 9.12ECh. 9 - Computing Four Present Value Problems On January 1...Ch. 9 - Prob. 9.14ECh. 9 - Prob. 9.15ECh. 9 - Prob. 9.16ECh. 9 - Prob. 9.17ECh. 9 - Prob. 9.18ECh. 9 - Prob. 9.19ECh. 9 - Prob. 9.20ECh. 9 - Prob. 9.21ECh. 9 - Prob. 9.22ECh. 9 - Prob. 9.23ECh. 9 - Prob. 9.24ECh. 9 - Recording and Reporting Current Liabilities LO9-1...Ch. 9 - Prob. 9.2PCh. 9 - Prob. 9.3PCh. 9 - Recording and Reporting Accrued Liabilities and...Ch. 9 - Prob. 9.5PCh. 9 - Prob. 9.6PCh. 9 - Prob. 9.7PCh. 9 - Prob. 9.8PCh. 9 - Prob. 9.9PCh. 9 - Prob. 9.10PCh. 9 - Prob. 9.11PCh. 9 - Prob. 9.12PCh. 9 - Prob. 9.13PCh. 9 - Prob. 9.14PCh. 9 - ALTERNATE PROBLEMS AP9-1 Recording and Reporting...Ch. 9 - Prob. 9.2APCh. 9 - Prob. 9.3APCh. 9 - Prob. 9.4APCh. 9 - Prob. 9.5APCh. 9 - Prob. 9.6APCh. 9 - Prob. 9.7APCh. 9 - Prob. 9.8APCh. 9 - Prob. 9.1CONCh. 9 - Annual Report Cases Finding Financial Information...Ch. 9 - Finding Financial Information Refer to the...Ch. 9 - Prob. 9.3CPCh. 9 - Prob. 9.4CPCh. 9 - Prob. 9.5CP
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