Access the 2019 financial statements and related disclosure notes of Ford Motor Company from its website at corporate.ford.com. Required: 1. In Note 7, find Ford's net deferred tax asset or liability. What is that number? 2. Does Ford show a valuation allowance against deferred tax assets? If so, what is the number? 3-a. Does Ford have any NOL carryforwards? Note: Round your answer to 1 decimal place. 3-b. What is the amount of any carryforward, what deferred tax asset or liability is associated with it? Note: Round your answer to 1 decimal place. 3-c. What effective tax rate does that imply was used to calculate its deferred tax effect? Note: Round your final answer to the nearest whole percent. 1. Net deferred tax asset 2. Valuation allowance 3-a. NOL carryforwards 3-b. Deferred tax asset arising from carryforward loss 3-c. Effective tax rate $ $ $ $ 11,373 million 843 million 4.3 billion 1.7 billion 40 %

Access the 2019 financial statements and related disclosure notes of Ford Motor Company from its website at corporate.ford.com. Required: 1. In Note 7, find Ford's net deferred tax asset or liability. What is that number? 2. Does Ford show a valuation allowance against deferred tax assets? If so, what is the number? 3-a. Does Ford have any NOL carryforwards? Note: Round your answer to 1 decimal place. 3-b. What is the amount of any carryforward, what deferred tax asset or liability is associated with it? Note: Round your answer to 1 decimal place. 3-c. What effective tax rate does that imply was used to calculate its deferred tax effect? Note: Round your final answer to the nearest whole percent. 1. Net deferred tax asset 2. Valuation allowance 3-a. NOL carryforwards 3-b. Deferred tax asset arising from carryforward loss 3-c. Effective tax rate $ $ $ $ 11,373 million 843 million 4.3 billion 1.7 billion 40 %

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Prepare the journal entries to record income tax expense, deferred income taxes and income taxes payable for 2025.
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