I am working on a problem similar to one I found on site. The top section of information is from your website. I have entered in my problems numbers below but none of them are correct. I used the same formulas but it still isn't working. What am I doing wrong?

Alsup Consulting sometimes performs services for which it receives payment at the conclusion of the engagement, up to six months after services commence. Alsup recognizes service revenue for financial reporting purposes when the services are performed. For tax purposes, revenue is reported when fees are collected. Service revenue, collections, and pretax accounting income for 2017-2020 are as follows:

Service Revenue Collections Pretax Accounting

Income 2017 $ 624,000 $ 599,000 $ 160,000

2018 720,000 730,000 225,000

2019 685,000 660,000 195,000

2020 670,000 690,000 175,000

There are no differences between accounting income and taxable income other than the temporary difference described above. The enacted tax rate for each year is 40%.

(Hint: You may find it helpful to prepare a schedule that shows the balances in service revenue receivable at December 31, 2017-2020.)

service collections pretax acctng diff between service and collections taxable income service rev rec tax payable deferred liability adj amount

Example work

2010 $650,000.00 $620,000.00 $186,000.00 $30,000.00 $156,000.00 $30,000.00 $12,000.00

2011 $750,000.00 $770,000.00 $250,000.00 $ (20,000.00) $270,000.00 $10,000.00 $108,000.00 $4,000.00 $8,000.00 $4,000.00

2012 $715,000.00 $700,000.00 $220,000.00 $15,000.00 $205,000.00 $25,000.00 $82,000.00 $10,000.00 $(6,000.00) $10,000.00

2013 $700,000.00 $720,000.00 $200,000.00 $ (20,000.00) $220,000.00 $5,000.00 $88,000.00 $2,000.00 $8,000.00 $2,000.00

My problem spreadsheet info

2017 $624,000.00 $599,000.00 $160,000.00 $25,000.00 $135,000.00 $25,000.00 $54,000.00 $10,000.00

2018 $720,000.00 $730,000.00 $225,000.00 $ (10,000.00) $235,000.00 $(10,000.00) $94,000.00 $(4,000.00) $14,000.00

2019 $685,000.00 $660,000.00 $195,000.00 $25,000.00 $170,000.00 $25,000.00 $68,000.00 $10,000.00 $4,000.00 $10,000.00

2020 $670,000.00 $690,000.00 $175,000.00 $ (20,000.00) $195,000.00 $(20,000.00) $78,000.00 $(8,000.00) $12,000.00