nimi For each of the following pension-related items, tell whether it increases (I), decreases (D), or has no effect (N) on (a) net income (for the current year) and (b) PBO. (a) Net income (b) PBO current year. large layoffs of employees new loss on PBO this year contributions to the trust fund by the company actuarial change in estimate showing that employees will remain with the company longer amortization of net loss on PBO (created last year) amortization of prior service cost new prior service cost created this year due to a revision in the pension plan expected return on plan assets actuarial decrease in the discount (settlement) rate used to compute PBO 10. unexpected loss on plan assets this year 11. service cost of the current year 12. benefits paid to retirees on oo State whether each of the following would create a deferred tax asset (A), a deferred tax liability (L), or neither (N) in the first year of each of the following: 1. The company uses MACRS accelerated depreciation for tax depreciation and straight-line for financial accounting depreciation 2. The company received interest on municipal bonds, which Is never taxable The company uses actual warranty expenditures for tax purposes, but estimates warranty expenditures for financial accounting purposes. 3. On Dec. 31, the company received rent for 4 years in advance from a tenant; the rent is taxable when received The company recorded the journal entry for a loss carryforward The company estimates bad debts for financial accounting using the allowance method, but waits until accounts go bad to write them off for tax purposes. This is the first year of operation. Creating a valuation allowance for a deferred tax asset Change in tax rate from 35% to 38% when a company already has a deferred tax asset on its books i tv or o nimi For each of the following pension-related items, tell whether it increases (I), decreases (D), or has no effect (N) on (a) net income (for the current year) and (b) PBO. (a) Net income (b) PBO current year. large layoffs of employees new loss on PBO this year contributions to the trust fund by the company actuarial change in estimate showing that employees will remain with the company longer amortization of net loss on PBO (created last year) amortization of prior service cost new prior service cost created this year due to a revision in the pension plan expected return on plan assets actuarial decrease in the discount (settlement) rate used to compute PBO 10. unexpected loss on plan assets this year 11. service cost of the current year 12. benefits paid to retirees on oo State whether each of the following would create a deferred tax asset (A), a deferred tax liability (L), or neither (N) in the first year of each of the following: 1. The company uses MACRS accelerated depreciation for tax depreciation and straight-line for financial accounting depreciation 2. The company received interest on municipal bonds, which Is never taxable The company uses actual warranty expenditures for tax purposes, but estimates warranty expenditures for financial accounting purposes. 3. On Dec. 31, the company received rent for 4 years in advance from a tenant; the rent is taxable when received The company recorded the journal entry for a loss carryforward The company estimates bad debts for financial accounting using the allowance method, but waits until accounts go bad to write them off for tax purposes. This is the first year of operation. Creating a valuation allowance for a deferred tax asset Change in tax rate from 35% to 38% when a company already has a deferred tax asset on its books i tv or o