Deferred Taxes

Question 1

Warranty Expense estimated on books will create

Answer 1

Deferred Tax Asset

Question 2

Bad Debt Expense estimated on Financial Statement will create

Answer 2

Deferred Tax Asset

Question 3

Warranty tax obligation exceed Financial statement estimate will create

Answer 3

Deferred Tax Liability

Question 4

Bad Debt Obligation exceed Financial statement will create

Answer 4

Deferred Tax Liability

Question 5

Start up expense recognized on book will create

Answer 5

Deferred Tax Asset

Question 6

Unearned rent or IRC prepaid rent will create

Answer 6

Deferred Tax Asset

Question 7

Unearned interest or IRC prepaid interest will create

Answer 7

Deferred Tax Asset

Question 8

unearned royalties or IRC prepaid royalties will create

Answer 8

Deferred Tax Asset

Question 9

Installment sales will create

Answer 9

Deferred Tax Liability

Question 10

Equity method (undistributed dividends) will create

Answer 10

Deferred Tax Liability

Question 11

Prepaid Insurance paid by the company will create

Answer 11

Deferred Tax Liability

Question 12

Prepaid rent paid by company will create

Answer 12

Deferred Tax Liability

Question 13

accelerated depreciation for tax purpose will create

Answer 13

Deferred Tax Liability

Question 14

Accelerated depreciation on books exceed on taxable income will create

Answer 14

Deferred Tax Asset

Question 15

Taxable income exceed Book income

Answer 15

Deferred Tax Asset

Question 16

Book Income Exceed Taxable income

Answer 16

Deferred Tax Liability