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Identify future taxable amounts and future deductible amounts
• LO16–1, LO16–2
(This is a variation of E 16–6, modified to focus on the
Temporary Difference
_______ 1. Accrual of loss contingency; tax-deductible when paid
_______ 2. Newspaper subscriptions; taxable when received, recognized for financial reporting when the performance obligation is satisfied
_______ 3. Prepaid rent; tax-deductible when paid
_______ 4. Accrued bond interest expense; tax-deductible when paid
_______ 5. Prepaid insurance; tax-deductible when paid
_______ 6. Unrealized loss from recording investments at fair value; tax-deductible when investments are sold
_______ 7. Warranty expense; estimated for financial reporting when products are sold; deducted for tax purposes when paid
_______ 8. Advance rent receipts on an operating lease as the lessor; taxable when received
_______ 9. Straight-line
_______ 10. Accrued expense for employee postretirement benefits; tax-deductible when subsequent payments are made
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Chapter 16 Solutions
INTERMEDIATE ACCOUNTING
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Intermediate Accounting: Reporting And AnalysisAccountingISBN:9781337788281Author:James M. Wahlen, Jefferson P. Jones, Donald PagachPublisher:Cengage Learning