Chapter 19 Solution

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CHAPTER 19
Accounting for Income Taxes
ASSIGNMENT CLASSIFICATION TABLE (BY TOPIC)
Topics 1. Reconcile pretax financial income with taxable income. 2. Identify temporary and permanent differences. 3. Determine deferred income taxes and related items— single tax rate. 4. Classification of deferred taxes. 5. Determine deferred income taxes and related items— multiple tax rates, expected future income. 6. Determine deferred taxes, multiple rates, expected future losses. 7. Carryback and carryforward of NOL. 8. Change in enacted future tax rate. 9. Tracking temporary differences through reversal. 10. Income statement presentation. 9 8 16, 17, 18, 14, 21, 22 Questions 1, 13 3, 4, 5 6, 7, 13 2, 3, 4, 5, 6, 7, 9 15 10 Brief Exercises Exercises 1 1, 2, 4, 7, 12, 18, 20, 21 4, 5, 6, 7 Concepts Problems for Analysis 1, 2, 3, 8 2, 3, 4 3, 4, 5 2

1, 3, 4, 5, 7, 8, 3, 4, 8, 9 12, 14, 15, 19, 21, 23, 25 7, 11, 16, 18, 19, 20, 21, 22 2, 13, 16, 17, 18, 20, 22 3, 6 1, 2, 6, 7

10, 11, 12

2, 3, 5 1, 6, 7

10

12, 13, 14 11

9, 10, 23, 24, 25 16 8, 17

5 2, 7 2, 7 5, 6

1, 2, 3, 4, 5, 7, 1, 2, 3, 5, 10, 12, 16, 19, 7, 8, 9 23, 24, 25 7 1, 2, 7

11. Conceptual issues—tax allocation.

1, 2, 8, 19, 21, 22 7

12. Valuation allowance—deferred 8, 19 tax asset. 13. Disclosure and other issues. 15

7, 14, 15, 23, 24, 25

Copyright © 2010 John Wiley & Sons, Inc.

Kieso, Intermediate Accounting, 13/e, Solutions Manual

(For Instructor Use Only)

19-1

ASSIGNMENT CLASSIFICATION TABLE (BY LEARNING OBJECTIVE)
Learning Objectives 1. 2. Identify differences between pretax financial income and taxable income. Describe a temporary difference that results in future taxable amounts. Brief Exercises 1, 2, 5 1, 2, 4, 9, 10 1, 2, 3, 4, 5, 7, 8, 11, 12, 13, 16, 17, 18, 19, 20, 21, 22 4, 5, 7, 8, 11, 12, 14, 15, 17, 18, 19, 20, 21, 22 7, 14, 15, 23, 24, 25 1, 3, 4, 5, 8, 12, 15, 16 4, 6, 7 11 12, 13, 14 3, 15 13, 16, 17, 18, 21, 23, 24, 25 9, 10, 23, 24, 25 8, 11, 16, 19, 20, 21, 22 1, 2, 3, 4, 5, 7, 8, 9 2, 3, 9 5, 7 5 3, 5, 6, 8, 9 1, 3, 4, 6, 7, 8, 9 Exercises Problems

3.

Describe a temporary difference that results in future deductible amounts. Explain the purpose of a deferred tax asset valuation allowance. Describe the presentation of income tax expense in the income statement. Describe various temporary and permanent differences. Explain the effect of various tax rates and tax rate changes on deferred income taxes. Apply accounting procedures for a loss carryback and a loss carryforward. Describe the presentation of deferred income taxes in financial statements.

5, 6, 9

1, 2, 4, 6, 8, 9

4. 5. 6. 7. 8. 9.

7, 14 4, 6, 8

19-2

Copyright © 2010 John Wiley & Sons, Inc.

Kieso, Intermediate Accounting, 13/e, Solutions Manual

(For Instructor Use Only)

ASSIGNMENT CHARACTERISTICS TABLE
Level of Difficulty Simple Simple Simple Simple Simple Simple Simple Simple Simple Moderate Simple Complex Simple Moderate Complex Complex Moderate Moderate Complex Moderate Moderate Simple Complex Complex Moderate Time (minutes) 15–20 15–20 15–20 15–20 15–20 10–15 10–15 10–15 15–20 20–25 10–15 20–25 20–25 20–25 20–25 15–20 30–35 20–25 25–30 15–20 20–25 15–20 30–35 30–35 15–20

Item E19-1 E19-2 E19-3 E19-4 E19-5 E19-6 E19-7 E19-8 E19-9 E19-10 E19-11 E19-12 E19-13 E19-14 E19-15 E19-16 E19-17 E19-18 E19-19 E19-20 E19-21 E19-22 E19-23 E19-24 E19-25

Description One temporary difference, future taxable amounts, one rate, no beginning deferred taxes. Two differences, no beginning deferred taxes, tracked through 2 years. One temporary difference, future taxable amounts, one rate, beginning deferred taxes. Three differences, compute taxable income, entry for taxes. Two temporary differences, one rate, beginning deferred taxes. Identify temporary or permanent differences. Terminology, relationships, computations, entries. Two temporary differences, one rate, 3 years. Carryback and carryforward of NOL, no valuation...
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