答案和详解如下： Q34. A firm is purchasing a new file server for $680,000, with a 4-year expected life and a salvage value of $50,000. It is expected that the new server will generate an additional $200,000 in revenue each year. The firm will use the straight line method to depreciate the server for financial reporting, but the sum-of-year’s digits (SYD) method for tax purposes. The tax rate is 35%. What will be the accumulated deferred tax liability at the end of the second year? A) $33,075.
B) $11,025. C) $44,100. Correct answer is C) Year | 1 | 2 | 3 | 4 | Annual Revenue | 200,000 | 200,000 | 200,000 | 200,000 | Dep. For Tax | 252,000 | 189,000 | 126,000 | 63,000 | Income | –52,000 | 11,000 | 74,000 | 137,000 | Tax | –18,200 | 3,850 | 25,900 | 47,950 |
|
|
|
|
| Dep. For Reporting | 157,500 | 157,500 | 157,500 | 157,500 | Income | 42,500 | 42,500 | 42,500 | 42,500 | Tax | 14,875 | 14,875 | 14,875 | 14,875 |
|
|
|
|
| Deferred tax credit | –33,075 | –11,025 | 11,025 | 33,075 | Total deferred tax credit | –33,075 | –44,100 | –33,075 |
|
Q35. Corcoran Corp acquired an asset on 1 January 2004, for $500,000. For financial reporting, Corcoran will depreciate the asset using the straight-line method over a 10-year period with no salvage value. For tax purposes the asset will be depreciated straight line for five years and Corcoran’s effective tax rate is 30%. Corcoran’s deferred tax liability for 2004 will: A) increase by $15,000. B) decrease by $50,000. C) decrease by $15,000. Correct answer is A) Straight-line depreciation per financial reports = 500,000 / 10 = $50,000 Tax depreciation = 500,000 / 5 = $100,000 Temporary difference = 100,000 − 50,000 = $50,000 Deferred tax liability will increase by $50,000 × 30% = $15,000 Q36. Nespa, Inc., has a deferred tax liability on its balance sheet in the amount of $25 million. A change in tax laws has increased future tax rates for Nespa. The impact of this increase in tax rate will be: A) an increase in deferred tax liability and an increase in tax expense. B) a decrease in deferred tax liability and a decrease in tax expense. C) a decrease in deferred tax liability and an increase in tax expense. Correct answer is A) An increase in tax rates will increase future deferred tax liability, and the impact of the increase in liability will be reflected in the income statement of the year in which the tax rate change is effected. |
发表于 2009-1-19 10:56
| 
