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1. d
2. c
3. c
4. b
5. d
6. a
7. b
8. a
9. c
10. b
1. c
2. d
3. a
4. b
5. c
6. c
7. c
8. d
9. c ➀
10. b ➁
11. d ➂
12. c
13. c
14. a ➃
15. c ➄
16. d ➅
17. d
18. b ➆
19. c ➇
➀ ($6 million × 95% × 1/3)
➁ ($6 million × 94% × 2/3 – $1.90 million)
➂ ($6 million × 95% – $3.78 million)
➃ (100 × 1,000 × 90% × $10 × 1/3)
➄ [20 × 500 × 80% × ($21 – $15)]
➅ [20 × 500 × 80% × ($19 – $15)] that is, $32,000
Chapter 33
➆ At December 31, 20X4, 30% of $12 million divided by three years = $1.2 million to statement of comprehensive income as the tax effect of the cumulative
remuneration expense exceeds the tax benefit ($5 million @ 30% compared with $4 million @ 30%).
➇ A portion of the tax benefit is recognized in equity as the tax benefit of $21 million × 1/3 × 30% ($2.1 million), exceeds the tax effect of the accumulated
remuneration expense $15 million × 1/3 × 30% ($1.5 million).
1. d
2. d
3. a
4. d
5. a
6. a
7. d
8. c
9. b
10. b
11. b
12. d
13. a
14. d
15. d
16. b
17. b
18. d*
Chapter 34