At December 31, 20×1, a company has four temporary
At December 31, 20×1, a company has four temporary differences. An analysis of these reveals thefollowings: The tax rate for all years is 40%. Assume that the company reports pretax financial income at $1,000,000for 20×1. The installment receivable collectible in 20×3 is classified as non-current assets. The companymade estimated tax payments during 20×1 of $50,000. Fill in the blanks numbered from 1 ~ 10.<Income statement for 20×1>Pretax financial incomeCurrent taxDeferred taxNet incomeEffective tax rate 1.2.3.4.5. <Balance sheet for 20×1>CurrentNon-currentIncome tax payable DTA6.8.10. DTL7.9.
