IntermediateAccountingIncomeTaxes幻灯片.pptVIP

Example 4: Deferred Tax Asset Income Tax Expense 8,800 Deferred Tax Asset—Current 2,400 Deferred Tax Asset— Noncurrent 4,800 Income Taxes Payable 16,000 1/3 × $7,200 Journal Entry for 2011 2/3 × $7,200 $16,000 current – $7,200 deferred benefits (continues) Income before income taxes $22,000 Deferred Tax Asset—Current $16,000 Deferred Tax Asset— Noncurrent (7,200) 8,800 Net income $13,200 Sandusky’s 2011 income statement would present income tax expense as follows: Example 4: Deferred Tax Asset (continues) In subsequent periods, taxable income would be $16,000, computed as