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Please help me solve these practice problems in excel BE 19-8, BE 19-10, BE 19-14, E 19-1, E19-6, E19-7 These are not graded, but will
Please help me solve these practice problems in excel
BE 19-8, BE 19-10, BE 19-14, E 19-1, E19-6, E19-7 These are not graded, but will give good hands on practice. A solutions file for these assignments will be posted in Doc Sharing after the end of the week for your reference and study. 1. BE19-1 In 2014, Amirante Corporation had pretax financial income of $168,000 and taxable income of $120,000. The difference is due to the use of different depreciation methods for tax and accounting purposes. The effective tax rate is 40%. Compute the amount to be reported as income taxes payable at December 31, 2014. 2. BE19-2 Oxford Corporation began operations in 2014 and reported pretax financial income of $225,000 for the year. Oxford's tax depreciation exceeded its book depreciation by $40,000. Oxford's tax rate for 2014 and years thereafter is 30%. In its December 31, 2014, balance sheet, what amount of deferred tax liability should be reported? 3. BE19-5 At December 31, 2014, Suffolk Corporation had an estimated warranty liability of $105,000 for accounting purposes and $0 for tax purposes. (The warranty costs are not deductible until paid.) The effective tax rate is 40%. Compute the amount Suffolk should report as a deferred tax asset at December 31, 2014Step by Step Solution
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