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Accounting Tax
1. Is there deferred tax? YES DTA because taxable income > accounting income will
deduct the tax paid in the future
2. Income tax expense 40% x 50,000 = 20,000
3. Current tax expense 60,000
4. Deferred tax = 40,000 (40% x (150,000 – 50,000) or 60,000 – 20,000)
Exercise 2
1. Deferred tax? YES DTL because taxable income < accounting income will increase the
amount tax paid in the future
2. Income tax expense = 40% * 200,000 = 80,000
3. Current tax expense = 40% * 155,000 = 62,000
4. Deferred tax 2015 = 62,000 – 80,000 = (18,000)
Exercise 3