1-

At the end of 2023, its first year of operations, Riverbed Corp. prepared the following reconciliation between pre-tax accounting income and taxable income:

	Pre-tax accounting income	$314000
	Estimated lawsuit expense	750000
	Instalment sales	(628000)
	Taxable income	$436000

The estimated lawsuit expense of $750000 will be deductible in 2025 when it is expected to be paid. The instalment sales will be realized at $314000 in each of the next two years. The income tax rate is 30% for all years. The net deferred tax asset to be recorded is

Select answer from the options below

$71700.

$188400.

$36600.

$94200.

2-

Cullumber Corp. provides a defined benefit pension plan for its employees, and uses IFRS to account for it. The corporation's actuary has provided the following information for the year ended December 31, 2023:

Defined benefit obligation, December 31		$530500
Fair value of plan assets, December 31		633000
Current service cost		240500
Interest on defined benefit obligation		32500
Past service costs		70000
Expected and actual return on plan assets		92000
Contributions to plan		203500

The defined benefit expense to be reported for 2023 is

Select answer from the options below

$251000.

$343000.

$435000.

$546500.

3-

The following information is available for Pharoah Enterprises Ltd. for calendar 2023. The corporation uses IFRS.

Plan assets (at fair value), end of year		$1809000
Defined benefit obligation, end of year		1919500
Defined benefit expense		360000
Contributions for year		327000

The defined benefit expense to be reported for 2023 is

Select answer from the options below

$110500.

$348050.

$360000.

$327000.