Does Capital Employed (When calculating ROCE) include non-current liabilities such as deferred tax liability and retirement...
Does Capital Employed (When calculating ROCE) include non-current liabilities such as deferred tax liability and retirement benefit obligation?
Homework Answers
ROCE=NET OPERATING PROFIT/CAPITAL EMPLOYED
WHERE CAPITAL EMPLOYED = TOTAL ASSETS - CURRENT LIABILITIES.
SO CAPITAL EMPLOYED INCLUDES ALL TYPE OF NON-CURRENT LIABILITIES.
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Does Capital Employed (When calculating ROCE) include
non-current liabilities such as deferred tax liability and
retirement...
15. Which of the following statements is correct? a. All current deferred tax liabilities and assets...
15. Which of the following statements is correct? a. All current deferred tax liabilities and assets shall be offset and presented as a single amount on the balance sheet. b. Deferred tax assets related to carryforwards shall be classified as current or noncurrent on the balance sheet based on their expected date of reversal. c. All current and noncurrent deferred taxes shall be offset and presented as a single amount on the balance sheet. d. Deferred tax liabilities and assets...
Solve for the missing numbers. Revenue 17,666 Depreciation 3,838 Deferred Tax Liability, Non-Current 2,413 Operating Income...
Solve for the missing numbers. Revenue 17,666 Depreciation 3,838 Deferred Tax Liability, Non-Current 2,413 Operating Income 2,257 Total Liabilities And Equity 75,611 Earnings before Taxes 776 Total Liabilities 52,120 Net Profit 1,394, Inventory 128 Other Current Assets 401 Prepaid Expenses 294 Additional Paid In Capital 23,314 Long-term Investments 453 Gross Profit 10,003 Goodwill 30,475 Gross Property, Plant & Equipment 51,204 Total Current Assets 3,891 Accumulated Depreciation (24,352) Common Stock 1,069 Other Long-Term Assets 1,167 Accounts Payable 1,555 Other Operating Expense...
Also known as tax-deferred accounts, before-tax retirement accounts generally include traditional individual retirement accounts (IRAs) and...
Also known as tax-deferred accounts, before-tax retirement accounts generally include traditional individual retirement accounts (IRAs) and 401ks. What does before-tax mean? Choose one answer. a. Before-tax means that the taxpayer has not paid tax on it and the contribution will never be included in their taxable income. b. Before-tax means that the taxpayer has paid tax on it and the contribution was not included in their taxable income for the year. c. Before-tax means that the taxpayer has paid tax...
1. Deferred taxes may be classified as either current or non-current under IFRS. True or false...
1. Deferred taxes may be classified as either current or non-current under IFRS. True or false 2 Under the liability approach, deferred taxes on the balance sheet are valued at the tax rate in that will be in effect when the temporary differences reverse. True or false 3. During the originating period of a temporary difference, pretax accounting income is defined as taxable income plus taxable amounts minus deductible amounts. true or false 4. Amanda Company sold an asset and...
6) For reporting purposes, deferred tax assets and deferred tax labilities for the same company and...
6) For reporting purposes, deferred tax assets and deferred tax labilities for the same company and tax jurisdiction are: a. Reported separately in the balance sheet. b. Reflected only in the notes to the financial statements. C. Combined with noncurrent deferred tax assets and noncurrent deferred tax liabilities in the balance sheet to show a single net noncurrent among. d. Netted against one another and show as a net current asset or liability in the balance sheet. 7) of the...
Allied reported deferred income tax on loss carried forward of $ 233,000 and deferred tax liability for 2021 as $ 72,000 vs 2020 for $ 96,000
At the end of 2021, Allied reported deferred income tax on loss carried forward of $ 233,000 and deferred tax liability for 2021 as $ 72,000 vs 2020 for $ 96,000. The deferred income taxes have resulted primarily from temporary differences in the recognition of capital cost allowance (CCA) claimed in excess of depreciation recorded. Management is reasonably certain that the tax benefits of the tax losses carried forward can be realized by claiming less CCA than depreciation. It has...
D) On 1 January 2018, the deferred tax liability brought forward for RM50,000. The following is...
D) On 1 January 2018, the deferred tax liability brought forward for RM50,000. The following is the Statement of Financial Position Bhd for the year 2018: hy brought forward for Megaway Bhd was ent of Financial Position (extract) for Mcgaway Megaway Bhd Statements of Financial Position (extract) as at 31 December 2018 RM Non-current assets RM RM Cost Accumulated depreciation NBV Plant Equipment Research and development 2,000,000 1,200,000 450,000 (600,000) (360,000) (200,000) 1,400,000 840,000 250,000 Current liabilities Provision for warranties...
At December 31, 2016, Windsor Company had a net deferred tax liability of $386,200. An explanation...
At December 31, 2016, Windsor Company had a net deferred tax liability of $386,200. An explanation of the items that compose this balance is as follows. Resulting Balances Temporary Differences in Deferred Taxes $208,600 1. Excess of tax depreciation over book depreciation 2. Accrual, for book purposes, of estimated loss contingency from pending lawsuit that is expected to be settled in 2017. The loss will be deducted on the tax return when paid. (46,900) Accrual method used for book purposes...
Everything is correct except for the Deferred Tax Liability amount. I also tried submitting the answer...
Everything is correct except for the
Deferred Tax Liability amount. I also tried submitting the answer
without parenthesis and it was still incorrect. Please
help
Question 5 0.92/1 View Policies Show Attempt History Current Attempt in Progress Vaughn Company has the following two temporary differences between its income tax expense and income taxes payable. 2017 2018 2019 $799,000 $944,000 $951,000 Pretax financial income (10,200) Excess depreciation expense on tax return (29,100) (39,300) Excess warranty expense in financial income 19,500 9,800...
a) At 31 December 2017, Senyum Sdn Bhd had a deferred tax liability of RM38,000. At...
a) At 31 December 2017, Senyum Sdn Bhd had a deferred tax liability of RM38,000. At 31 December 2018, the deferred tax liability is RM45,000. The company's 2018 current tax payable is RM50,000. Required: i) Compute the tax expense for Senyum Sdn Bhd for the year 2018. (5 marks) (CLO1:PLO1:C3) ii) Briefly explain what deferred tax is. (2 marks) (CLO1:PLO1:C1) b) Murni Berhad recognised a deferred tax liability for the year ended 31 March 2017 which was related solely to...
6) For reporting purposes, deferred tax assets and deferred tax labilities for the same company and tax jurisdiction are: a. Reported separately in the balance sheet. b. Reflected only in the notes to the financial statements. C. Combined with noncurrent deferred tax assets and noncurrent deferred tax liabilities in the balance sheet to show a single net noncurrent among. d. Netted against one another and show as a net current asset or liability in the balance sheet. 7) of the...
D) On 1 January 2018, the deferred tax liability brought forward for RM50,000. The following is the Statement of Financial Position Bhd for the year 2018: hy brought forward for Megaway Bhd was ent of Financial Position (extract) for Mcgaway Megaway Bhd Statements of Financial Position (extract) as at 31 December 2018 RM Non-current assets RM RM Cost Accumulated depreciation NBV Plant Equipment Research and development 2,000,000 1,200,000 450,000 (600,000) (360,000) (200,000) 1,400,000 840,000 250,000 Current liabilities Provision for warranties...
At December 31, 2016, Windsor Company had a net deferred tax liability of $386,200. An explanation of the items that compose this balance is as follows. Resulting Balances Temporary Differences in Deferred Taxes $208,600 1. Excess of tax depreciation over book depreciation 2. Accrual, for book purposes, of estimated loss contingency from pending lawsuit that is expected to be settled in 2017. The loss will be deducted on the tax return when paid. (46,900) Accrual method used for book purposes...
Everything is correct except for the
Deferred Tax Liability amount. I also tried submitting the answer
without parenthesis and it was still incorrect. Please
help
Question 5 0.92/1 View Policies Show Attempt History Current Attempt in Progress Vaughn Company has the following two temporary differences between its income tax expense and income taxes payable. 2017 2018 2019 $799,000 $944,000 $951,000 Pretax financial income (10,200) Excess depreciation expense on tax return (29,100) (39,300) Excess warranty expense in financial income 19,500 9,800...
a) At 31 December 2017, Senyum Sdn Bhd had a deferred tax liability of RM38,000. At 31 December 2018, the deferred tax liability is RM45,000. The company's 2018 current tax payable is RM50,000. Required: i) Compute the tax expense for Senyum Sdn Bhd for the year 2018. (5 marks) (CLO1:PLO1:C3) ii) Briefly explain what deferred tax is. (2 marks) (CLO1:PLO1:C1) b) Murni Berhad recognised a deferred tax liability for the year ended 31 March 2017 which was related solely to...
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