Compute amount pina should report as deferred tax liability

Assignment Help Accounting Basics

Reference no: EM131957824

Problem

Pina Corporation has a cumulative temporary difference related to depreciation of $570,000 at December 31, 2017. This difference will reverse as follows: 2018, $39,000; 2019, $261,000; and 2020, $270,000. Enacted tax rates are 31% for 2018 and 2019, and 36% for 2020.

Compute the amount Pina should report as a deferred tax liability at December 31, 2017.

Deferred tax liability at December 31, 2017

Reference no: EM131957824

Questions Cloud

Record the journal entries for the given transaction : Pilsbury Co. bought machines on January 1, 2013. The company signed a note to pay $32,000 for the machines. Record the journal entries for this transaction.

What issue does agency theory examine : Identify the potential conflicts that arise within the firm between stockholders and managers and between stockholders and bondholders.

Establish a system for healthcare-associated : Explain how to establish a system for healthcare-associated infection surveillance.?

Basic components and benefits of an ehr system : Describe and explain the basic components and benefits of an EHR System.

Compute amount pina should report as deferred tax liability : Compute the amount Pina should report as a deferred tax liability at December 31, 2017. Deferred tax liability at December 31, 2017.

What is ivonnes required rate of return : Ivonne has bought shares of RIO, Inc. stock for $25.00 per share. She expects a 1.00 dividend at the end of this year.

Calculate the subsidy provided by the host city : How much of the interest payment should be used to calculate interest tax shield? Explain.

Make the journal entries to record given transactions : Pina Corporation was organized on January 1, 2017. It is authorized to issue 10,900 shares of 8%. Prepare the journal entries to record the above transactions.

Estimate j and s corp total financing requirements : Estimate J and S corp. total financing requirements (i.e., total assets) for 2001 and its net funding requirements (DFN).

Reviews

Write a Review

Required(*) Message

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!

Submit Assignment

User Account

All Pages