Instr: re-formulate the Income statement shown in the photo including tax benefit + tax allocated calculations Tax
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Instr: re-formulate the Income statement shown in the photo including tax benefit + tax allocated calculations
Tax rate: 15.9%
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CP4 1 2 3 4 5 6 7 8 Reformulated IS All the usual: Save this file as "lastname CP4". Calibri 12 pt., no colored text or fill. Format as "accounting, no decimals, no symbol" unless inappropriate. Copy your clean IS and SCI to the proper tab. Position the SCI below the IS. If there is no other comprehensive income, just note that. Copy the clean statements to the "Reformulated" tab so you can work with the data. Begin the reformulation. Only use 1 year (the most recent) of data. Calculate the tax benefit or burden. Calculate tax allocated to operations. Present those calculations.. Locate the statutory tax rate for your company. I suggest opening the PDF version of the 10-K and search for the word "statutory". Use the original accounts for your company. Each company is different. Do not leave out any accounts! Perform the reformulation using the methods we used in class. Please present the assignment in this form: Clean IS Clean SCI tax benefit calculation Save and submit. allocated tax calculation Reformulated IS Combined IS and SCI data) Make sure your total for CI matches the reported GAAP comprehensive income. CP4 1 2 3 4 5 6 7 8 Reformulated IS All the usual: Save this file as "lastname CP4". Calibri 12 pt., no colored text or fill. Format as "accounting, no decimals, no symbol" unless inappropriate. Copy your clean IS and SCI to the proper tab. Position the SCI below the IS. If there is no other comprehensive income, just note that. Copy the clean statements to the "Reformulated" tab so you can work with the data. Begin the reformulation. Only use 1 year (the most recent) of data. Calculate the tax benefit or burden. Calculate tax allocated to operations. Present those calculations.. Locate the statutory tax rate for your company. I suggest opening the PDF version of the 10-K and search for the word "statutory". Use the original accounts for your company. Each company is different. Do not leave out any accounts! Perform the reformulation using the methods we used in class. Please present the assignment in this form: Clean IS Clean SCI tax benefit calculation Save and submit. allocated tax calculation Reformulated IS Combined IS and SCI data) Make sure your total for CI matches the reported GAAP comprehensive income.
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To reformulate the income statement with the tax benefit and tax allocated calculations we need to follow the instructions provided taking into accoun... View the full answer
Related Book For
Vector Mechanics for Engineers Statics and Dynamics
ISBN: 978-0073212227
8th Edition
Authors: Ferdinand Beer, E. Russell Johnston, Jr., Elliot Eisenberg, William Clausen, David Mazurek, Phillip Cornwell
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