29 010:306 Section 01 Intermediate Accounting 2 (Fall 2018) Homework: Chapter 17 Homework Score: 0 of 1 pt 1 of 4 (2 complete) P17-1 (similar to) the accrual basis for fenancial mporing and the cash basis for tax purp Handyman Manufacturing uses long term instaliment contracts to market its bualding products. It uses offerng installment contracts We present the results of oerations for the last 5 year EE oak te icon to vew the data) a. Determine the balance of the delerred tax account at the end of each of the 5 years b. Prepare the jounal entries to record the tax for the 5 years Show the efflective tax rate for each year Data Table Year 1 Year 2 Year 3 Year 5 GAAP GAAP Tax GAAP Tax GAAP Tax Gross profit on 100 nstaliment sales Taxable portion of cash ,300 on instaliment sales 2.37 2.54 2.100 2 erating expenses 5 564 TOSHIBA F9 FIOF1 F12 0 29 010:306 Section 01 Intermediate Accounting 2 (Fall 2018) Homework: Chapter 17 Homework Score: 0 of 1 pt 1 of 4 (2 complete) P17-1 (similar to) the accrual basis for fenancial mporing and the cash basis for tax purp Handyman Manufacturing uses long term instaliment contracts to market its bualding products. It uses offerng installment contracts We present the results of oerations for the last 5 year EE oak te icon to vew the data) a. Determine the balance of the delerred tax account at the end of each of the 5 years b. Prepare the jounal entries to record the tax for the 5 years Show the efflective tax rate for each year Data Table Year 1 Year 2 Year 3 Year 5 GAAP GAAP Tax GAAP Tax GAAP Tax Gross profit on 100 nstaliment sales Taxable portion of cash ,300 on instaliment sales 2.37 2.54 2.100 2 erating expenses 5 564 TOSHIBA F9 FIOF1 F12 0