1. Which of the following items relate to permanent differences and which relate to temporary differences

Question 17 options:

	Depreciation on the tax return in excess of depreciation on the financial statements
	Life insurance proceeds when the company is the beneficiary
	Impacts one period
	Fines
	Results in a deferred tax asset of liability
	Impacts at least two periods

1.	Permanent differences
2.	Temporary differences

2.

Using the following information, compute the funded status to be reported on the balance sheet. then answer the matching questions below.

Service Cost $75,000

Contributions to plan 60,000

Return on plan assets 80,000

Projected benefit obligation(beginning of year) 900,000

Fair value of plan assets (beginning of year) 800,000

Prepaid/Accrued pension cost(beginning of year) 100,000

Benefits paid in the current year 70,000

Settlement rate 10%

Question 19 options:

123	Ending balance in the PBO
123	Funded status
123	Ending balance in the Plan Assets

1.	(995,000)
2.	870,000
3.	(125,000)