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  • Tax Fa2

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    chilevan1992
    7 views2 pages
    The document discusses the calculation of income tax expense. Income tax expense equals income taxes payable plus the change in deferred tax liabilities minus the change in deferred tax assets. Deferred tax assets and liabilities are calculated based on temporary differences between tax and accounting treatments of items. The effective income tax rate is calculated as tax expense divided by income before income taxes.

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    The document discusses the calculation of income tax expense. Income tax expense equals income taxes payable plus the change in deferred tax liabilities minus the change in deferred tax assets. Deferred tax assets and liabilities are calculated based on temporary differences between tax and accounting treatments of items. The effective income tax rate is calculated as tax expense divided by income before income taxes.

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    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
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    7 views2 pages

    Tax Fa2

    Uploaded by

    chilevan1992
    The document discusses the calculation of income tax expense. Income tax expense equals income taxes payable plus the change in deferred tax liabilities minus the change in deferred tax assets. Deferred tax assets and liabilities are calculated based on temporary differences between tax and accounting treatments of items. The effective income tax rate is calculated as tax expense divided by income before income taxes.

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    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
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    of 2

    Dr Income tax expense = income taxes payable +  DTL -  DTA (cả 2 đều tăng, nếu giảm cái nào

    thì
    ngược dấu cái đó)

    Dr DTA = tính

    Cr Income taxes payable = taxable income (pretax financial income) * tax rate

    Cr DTL = tính

    Nếu DTA tăng -> Dr , DTL tăng -> Cr

    Giảm thì ngược lại

    Effective income tax rate = tax expense / income before income tax

    B1: tính tax payable = taxable income (pretax financial income) * tax rate

    B2: tính  DTL,  DTA

    Items Tax basis vs accounting basis Effect Change in DTL/ DTA


    Depreciation expense Greater by a Pay less tax in current DTL tăng by a*tax rate
    year
    Rent revenue/ warranty Greater by …. DTA tăng
    expense

    C2:

    DTL:

    - Beginning: a
    - Cumulative …. (end of year/ Dec 31): b
      DTL = b * tax rate – a

    DTA

    - Beginning: a
    - Ending: b
      DTA = b* tax rate - a

    B3: Income tax expense = income taxes payable +  DTL -  DTA (cả 2 đều tăng, nếu giảm cái nào thì
    ngược dấu cái đó)

    B4: journalize

    Dr income tax expense

    Dr DTA
    Cr Income taxes payable

    Ct DTL

    B5: income before income taxes x

    Income tax expense

    Current (tax payable) a

    Deferred (+  DTL -  DTA) b y

    Net income x-y

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