Amount of deferred tax liability reported

Assignment Help Accounting Basics
Reference no: EM13147807

Oxford Corporation began operations in 2010 and reported pretax financial income of $225,000 for the year. Oxford's tax depreciation exceeded its book depreciation by $40,000. Oxford's tax rate for 2010 and years thereafter is 30%. In its December 31, 2010 balance sheet, what amount of deferred tax liability should be reported?

Reference no: EM13147807

Questions Cloud

Determining effective interest method of amortization : Which of the following is correct about the effective interest method of amortization?
What happens to the population size in the long run : What happens to the population size in the long run? Does the Iron Law of Wages (where Malthus asserted that technological change would not improve human living standards) hold in this case? Why or why not?
Probability selected person from us will be a cg-certain : Probability randomly selected person from US who is certain or has little doubt has no more than a H.S. education? probability randomly selected person from US will be a C.G. and be "certain" or "little doubt"?
How will preventing the inactivation of sodium channels : How will preventing the inactivation of sodium channels affect the signaling capability of a neuron?
Amount of deferred tax liability reported : Oxford Corporation began operations in 2010 and reported pretax financial income of $225,000 for the year. Oxford's tax depreciation exceeded its book depreciation by $40,000. Oxford's tax rate for 2010 and years thereafter is 30%. In its December..
How many kilograms of ca(no3)2 are present : A sample of calcium nitrate, Ca(NO3)2, with a formula weight of 164 g/mol, has 5.00 x 1025 atoms of oxygen. How many kilograms of Ca(NO3)2 are present
Temperature increases and the pressure remains constant : If the temperature increases and the pressure remains constant and also the moisture content of the air does not change will the mixing ratio change? Why or why not?
How much heat is evolved : How much heat is evolved when 233 g of ammonia gas condenses to a liquid at its boiling point?
Which of the following sequences is considered an str : Which of the following sequences is considered an STR.

Reviews

Write a Review

Accounting Basics Questions & Answers

  Available common stock dividends

The board of directors plans to pay dividends in the amount of $1 million this year.What amount will go to preferred stockholders? How much will be available for common stock dividends?

  Inventory in the hands of coast corporation

Under a plan of complete liquidation, Coast Corporation distributes land with a $300,000 adjusted basis and a $400,000 FMV to William, a 25% shareholder. William has a $200,000 basis in his Coast stock. The land is inventory in the hands of Coast ..

  Direct and indirect method in quoting foreign currencies

Describe the direct and indirect technique in quoting foreign currencies. Provide some examples.

  Is it a current liability or a long term liability

Where on the balance sheet should a 20 year, 12% bond, due 1/1/2013 for $500,000 be listed. Is it a current liability or a long term liability?

  Explain the benefits of a stock dividend

Explain the benefits of a stock dividend both to the coprporation issuing the dividend and to the shareholder receiving the dividend.

  Amortization of the software development costs

The economic life of the software is estimated at four years. 2012 amortization of the software development costs would be:

  What is the reason for the apparent inconsistency

A not-for-profit organization receives a restricted gift. When, and in which type of fund, should it recognize the revenue? When, and in which type of fund, should it recognize the related expense? What is the reason for the apparent inconsistency..

  Amount of negotiable securities

When the client holds a large amount of negotiable securities, auditors need to plan to guard against

  Realization of an operating income

If fixed costs are $700.000 and the unit contribution margn is $14, what amount of units must be sold in order to realize an operating income of $100.000

  Explain the supply chain and the value chain

The Accountant's Role in the Organization.

  How much is included in keith gross estate based on

At the time of his death on June 6, 2011 Keith was involved in the following real estate.

  Equity-method reporting situations

In what types of situations could it be appropriate to use equity-method reporting even though the investor does not hold voting common stock of the investee? Explain.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd