18. For its first year of operations Macawi Corporation\'s reconciliation of pre

Question

18.

For  its first year of operations Macawi Corporation's reconciliation of  pretax accounting income to taxable income is as follows:
     
     

19.

Raheem  Corporation depreciates equipment by the straight-line method for  financial reporting purposes and an accelerated method for tax reporting  purposes.  When this temporary difference reverses, a:

20.

Which of the following statements typifies defined contribution pension plans?

21.

Which  of the following amounts associated with a defined benefit pension plan  are computed using projected (i.e., expected future) pay rates/levels?

Pretax accounting income   $200,000 Non-temporary difference     (14,000) Temporary difference     (10,000)      Taxable income   $176,000

Explanation / Answer

$4,000 deferred tax liability

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