Indicate if a Deferred Tax Asset (DTA), Deferred Tax Liability (DTL) or permanent (P) difference would result
Question:
Indicate if a Deferred Tax Asset (DTA), Deferred Tax Liability (DTL) or permanent (P) difference would result when difference originates. For permanent differences, indicate if adding (P+) or subtracting (P-) from accounting income to arrive at taxable income. Place an X in the appropriate column. DTA DTL P+ P- a) Life insurance proceeds received due to the death of an executive b) Organization costs incurred versus tax amortization c) Premiums on life insurance of executives d) Credit losses were $11,000 and write-off of A/R $6,000 e) Insurance coverage for 2 years was acquired; ½ was used up f) Unrealized gain from trading securities reported at fair value g) Stock compensation service cost; will be exercised in future years
Intermediate Accounting
ISBN: 978-1118300855
10th Canadian Edition Volume 2
Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield, Nicola M. Young, Irene M. Wiecek, Bruce J. McConomy