A temporary difference arises due to: a difference between the amounts of the accounting expenses and...
A temporary difference arises due to:
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a difference between the amounts of the accounting expenses and the tax deductions of a company which will be reversed in future periods |
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a difference in the amount of the deferred tax assets and the deferred tax liabilities |
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the timing difference between the end of the financial year and when the income tax payable is paid |
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a difference between the amounts of the accounting expenses and the tax deductions of a company which will never be reversed |
Homework Answers
ANSWER. A. A difference between the amounts of the accounting expenses and the tax deductions of a company which will be reversed in future periods.
TEMPORARY DIFFERENCE ARISES DUE TO TIMMING VARIANCE OF THE TREATMENT OF EXPENSES WHICH MAY VARY AS PER ACCOUNTING TREATMENT AND TAX DEDUCTIBILITY, WHICH WILL GET REVERSED IN FUTURE PERIOD.
THE TIMING DIFFERENCE RESULTED DUE TO TIMING ISSUE MY RESULT IN DEFERRED TAX ASSETS / LIABILITIES, WHICH WILL GET REVERSED IN FUTURE PERIOD.
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A temporary difference arises due to:
a difference between the amounts of the accounting expenses and...
A temporary difference arises due to: a difference between the amounts of the accounting expenses and...
A temporary difference arises due to: a difference between the amounts of the accounting expenses and the tax deductions of a company which will be reversed in future periods a difference in the amount of the deferred tax assets and the deferred tax liabilities the timing difference between the end of the financial year and when the income tax payable is paid a difference between the amounts of the accounting expenses and the tax deductions of a company which will...
1. True or False: A deferred tax asset arises when current taxable income is greater than...
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E19.3, (LO 1, 2) Excel (One Temporary Difference, Future Taxable Amounts, One Rate, beginning Deferred Taxes)...
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For each item below, indicate whether it involves: (1) A temporary difference that will result in...
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E19-1. (One Temporary Difference, Future Taxable Amounts, One Rate, No Beginning Deferred Taxes) 2 5 South...
E19-1.
(One Temporary Difference, Future Taxable Amounts, One Rate, No
Beginning Deferred Taxes)
2
5
South Carolina Corporation has one temporary difference at the end
of 2014 that will reverse and cause taxable amounts of $55,000 in
2015, $60,000 in 2016, and $65,000 in 2017. South Carolina's pretax
financial income for 2014 is $300,000, and the tax rate is 30% for
all years. There are no deferred taxes at the beginning of 2014.
Instructions
(a)
Compute taxable income and income...
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