Flashcards

Question 1

DTL examples

Answer 1

ICE PAD 1. installment sales 2. contactor’s accounting 3. Equity Method (undistributed dividends) 1. Depreciation Expense 2. Amortization of Franchise 3. Prepaid expenses (cash basis for tax)

Question 2

DTA examples

Answer 2

SUE B 1. unearned revenues 2. bad debt expense 3. estimated liability/warranty expense 3. start up expenses

Question 3

Nonmonetary Items

Answer 3

“ICUP In A Icky Porta Potty”

1. C/S 2. P/S 3. Investment in sub 4. Inventory 5. A/D 6. PP&E 7. Intangible Assets 8. Unearned Revenue