Explanation Deferred tax asset : The process of paying over and above the required level of tax is termed deferred tax asset. These taxes are calculated and paid on the future expected income. In case the future expected inflow of cash reduces, the company can claim the excess tax paid in the form of tax relief or refund. Deferred tax liability: Some business activities may create a dissimilarity between the amount recorded in the books and the taxable income. These differences create deferred tax liability. For example, Mr. J is a car dealer who sold a car on installment. The actual sale happened in the current year, but the benefits are receivable in the future years. This creates a difference in the books of accounts and the taxable account. Rationalization: Deferred tax liabilities are computed when the income is realizable in future and the assurance is received in the current year...

Bundle: Intermediate Accounting 16e Binder Ready Version + WileyPLUS Access Code

16th Edition

ISBN: 9781119231554

Author: Donald E. Kieso

Publisher: Wiley (WileyPLUS Products)

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Deferred Tax

Deferred tax is an estimated future tax which is made while preparing accounts. It is estimated as a result of past and present transactions in the financial statements. It is not the actual tax which needs to be paid or refundable from the revenue autho…

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Chapter 19, Problem 5CA

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To determine the circumstances in which the company will compute deferred tax liability.

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Chapter 19, Problem 4CA

Chapter 19, Problem 6CA

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Chapter 19 Solutions

Bundle: Intermediate Accounting 16e Binder Ready Version + WileyPLUS Access Code

Ch. 19 - Prob. 1Q Ch. 19 - Prob. 2Q Ch. 19 - Prob. 3Q Ch. 19 - Prob. 4Q Ch. 19 - Prob. 5Q Ch. 19 - Prob. 6Q Ch. 19 - Prob. 7Q Ch. 19 - Prob. 8Q Ch. 19 - Prob. 9Q Ch. 19 - Prob. 10Q

Ch. 19 - Prob. 11Q Ch. 19 - Prob. 12Q Ch. 19 - Prob. 13Q Ch. 19 - Prob. 14Q Ch. 19 - Prob. 15Q Ch. 19 - Prob. 16Q Ch. 19 - Prob. 17Q Ch. 19 - Prob. 18Q Ch. 19 - Prob. 19Q Ch. 19 - Prob. 1BE Ch. 19 - Prob. 2BE Ch. 19 - Prob. 3BE Ch. 19 - Prob. 4BE Ch. 19 - Prob. 5BE Ch. 19 - Prob. 6BE Ch. 19 - Prob. 7BE Ch. 19 - Prob. 8BE Ch. 19 - Prob. 9BE Ch. 19 - Prob. 10BE Ch. 19 - Prob. 11BE Ch. 19 - Prob. 12BE Ch. 19 - Prob. 13BE Ch. 19 - Prob. 14BE Ch. 19 - Prob. 15BE Ch. 19 - Prob. 1E Ch. 19 - Prob. 2E Ch. 19 - E19-3 (L01,2) EXCEL (One Temporary Difference,...Ch. 19 - Prob. 4E Ch. 19 - Prob. 5E Ch. 19 - Prob. 6E Ch. 19 - Prob. 7E Ch. 19 - Prob. 8E Ch. 19 - Prob. 9E Ch. 19 - E19-10 (L01,2) (Two Temporary Differences, One...Ch. 19 - Prob. 11E Ch. 19 - Prob. 12E Ch. 19 - Prob. 13E Ch. 19 - Prob. 14E Ch. 19 - Prob. 15E Ch. 19 - Prob. 16E Ch. 19 - Prob. 17E Ch. 19 - Prob. 18E Ch. 19 - Prob. 19E Ch. 19 - Prob. 20E Ch. 19 - E19-21 (L03) (Carryback and Carryforward of NOL,...Ch. 19 - E19-22 (L03) (Two NOLs, No Temporary Differences,...Ch. 19 - E19-23 (L03) (NOL Carryback and Carryforward,...Ch. 19 - Prob. 24E Ch. 19 - Prob. 25E Ch. 19 - P19-1 (L01,2,4) EXCEL (Three Differences, No...Ch. 19 - P19-2 (L01,2) (One Temporary Difference, Tracked...Ch. 19 - Prob. 3P Ch. 19 - Prob. 4P Ch. 19 - P19-5 (LO3) EXCEL GROUPWORK (NOL without Valuation...Ch. 19 - Prob. 6P Ch. 19 - Prob. 7P Ch. 19 - Prob. 8P Ch. 19 - Prob. 9P Ch. 19 - Prob. 1CA Ch. 19 - Prob. 2CA Ch. 19 - Prob. 3CA Ch. 19 - Prob. 4CA Ch. 19 - Prob. 5CA Ch. 19 - Prob. 6CA Ch. 19 - Prob. 7CA Ch. 19 - Prob. 1UJ Ch. 19 - Prob. 2UJ Ch. 19 - Prob. 3UJ Ch. 19 - Prob. 4UJ Ch. 19 - Prob. 1CE Ch. 19 - Prob. 2CE Ch. 19 - Prob. 3CE Ch. 19 - Prob. 4CE Ch. 19 - Prob. 1CRC Ch. 19 - Prob. 1IST Ch. 19 - Prob. 2IST Ch. 19 - Prob. 3IST Ch. 19 - Prob. 4IST Ch. 19 - Prob. 5IST Ch. 19 - IFRS19-1 Where can authoritative IFRS related to...Ch. 19 - Prob. 2ICA Ch. 19 - Prob. 3ICA Ch. 19 - Prob. 4ICA Ch. 19 - Prob. 5ICA Ch. 19 - Prob. 6ICA Ch. 19 - Prob. 7ICA Ch. 19 - Prob. 8ICA Ch. 19 - Prob. 9ICA Ch. 19 - Prob. 10ICA Ch. 19 - Prob. 11ICA Ch. 19 - Prob. 12ICA Ch. 19 - Prob. 13ICA

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