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Student Name:
Class:
2016 2017 2018 2019
60,000$ 80,000$ 70,000$ 70,000$
(39,600) (52,800) (18,000) (9,600)
Cumulative
Temporary
2016 2017 2018 2019 Difference
30,000 30,000 30,000 30,000
Straight-line
Instructor
Calculations
ZEKANY CORPORATION
Problem 16-04
McGraw-Hill/Irwin
Pretax accounting income
Depreciation for tax
Student Name:
Class:
Instructor
Problem 16-04
McGraw-Hill/Irwin
Debit Credit
9,000 «- Correct!
Income tax expense
Journal entry at the end of 2016
Account
ZEKANY CORPORATION
General Journal
$120,000
2016 2017 2018 2019
$39,600 $52,800 $18,000 $9,600
Depreciation
Given Data P16-04:
ZEKANY CORPORATION
Asset cost
Student Name:
Class:
2016 2017 2018 2019
$350,000 $270,000 $340,000 $380,000
Correct! Correct! Correct! Correct!
Cumulative
Temporary
2016 2017 2018 2019 Difference
(50,000) 20,000 25,000 5,000 $0 «- Correct!
2016 2017 2018 2019
$50,000 $30,000 $5,000 $0
Debit Credit
105,000 «- Correct!
15,000
Income tax expense
Deferred tax liability
Journal entry at the end of 2016
Account
Temporary differences:
Cumulative difference
Instructor
Calculations
DEVILLE COMPANY
General Journal
DEVILLE COMPANY
Problem 16-05
McGraw-Hill/Irwin
Pretax accounting income
2016 2017 2018 2019
$350,000 $270,000 $340,000 $380,000
$50,000
2016 Installment sale
Given Data P16-05:
DEVILLE COMPANY
Pretax accounting income
Student Name:
Class:
Current Future
Year Deductible
2014 2015 2016 Amounts
(135)
$10
Ending balance (balance currently needed)
(in millions)
Prior Years
Deferred tax asset:
Accounting Loss
Permanent difference:
Problem 16-10
McGraw-Hill/Irwin
Intructor
FORES CONSTRUCTION COMPANY
Calculations
Requirement 1:
135
Current Future
Year Deductible
2017 Amounts
60
Deferred tax asset:
Pretax accounting Income
Operating loss before income taxes
(in millions)
Less: Income tax benefit
Requirement 3:
Calculations
2014 2015
$75,000,000 $30,000,000
Additional Information:
Taxable Income
FORES CONSTRUCTION COMPANY
Given Data P16-10:
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