模块十四递延税金模拟解答问题优化处理.pdfVIP

1.Justificationforthemethodofdeterminingperiodicdeferredtaxexpenseis

basedontheconceptof

a.Matchingofperiodicexpensetoperiodicrevenue.

b.Objectivityinthecalculationofperiodicexpense.

c.Recognitionofassetsandliabilities.

d.Consistencyoftaxexpensemeasurementswithactualtaxnningstrategies.

2.AmongtheitemsreportedonCord,Inc.’sincomestatementfortheyearended

December31,2010,wasthefollowing:

Paymentofpenalty$5,000

Insurancepremiumonlifeofanofficerwith

Cordasownerandbeneficiary10,000

Temporarydifferencesamountto

a.$0

b.$5,000

c.$10,000

d.$15,000

3.CalebCorporationhasthreefinancialstatementelementsforwhichthe

December31,2010bookvalueisdifferentthantheDecember31,2010taxbasis

BookvalueTaxbasisDifference

Equipment$200,000$120,000$80,000

Prepaidofficers

insurance75,000075,000

Warrantyliability50,000050,000

Asaresultofthesedifferences,futuretaxableamountsare

a.$50,000

b.$80,000

c.$155,000

d.$205,000

4.Temporarydifferencesarisewhenrevenuesaretaxable

AftertheyareBeforetheyare

recognizedinrecognizedin

financialincomefinancialincome

a.Yes