ACCT 312 DeVry Entire Course

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Submit your assignment to the Dropbox, located at the top of this page. For instructions on how to use the Dropbox, read these ACCT 312 DeVry Week 7 Homework Latest Please answer the homework questions listed below, and submit them in one file to the Dropbox. P 21-5 P 21-6 Submit your assignment to the Dropbox, located at the top of this page. For instructions on how to use the Dropbox, read these ACCT 312 DeVry Week 1 Quiz 1. Question: (TCO 1) which causes a temporary difference between taxable and pretax accounting income? Investment expenses incurred to generate tax-exempt income Prepaid rent, tax-deductible when paid The dividends received deduction Life insurance proceeds received due to the death of an executive Question 2. Question : (TCO 1) Which difference between financial accounting and tax accounting ordinarily creates a deferred tax liability? Interest income on municipal bonds Proceeds from life insurance received due to the death of an executive Accelerated depreciation on the tax return in excess of straight-line depreciation in the income statement None of the above Question 3. Question : (TCO 1) Which temporary difference ordinarily creates a deferred tax asset? Completed-contract method for long-term construction contracts for tax reporting Subscriptions collected in advance Accelerated depreciation for tax reporting Installment sales for tax reporting Question 4. Question : (TCO 1) Under current tax law, a net operating loss may be carried forward up to 5 years. 10 years. 15 years. 20 years. Question 5. Question : (TCO 1) In reconciling net income to taxable income, interest earned on municipal bonds is
ignored. a temporary difference. a permanent difference. a reversing difference. ACCT 312 DeVry Week 2 Quiz 1. (TCO 2) Which causes a temporary difference between taxable and pretax accounting income? (Points : 4) Unrealized loss from recording investment available for sale at fair value Investment expenses incurred to generate tax-exempt income The dividends received deduction Life insurance proceeds received due to the death of an executive Question 2.2. (TCO 2) Which statement typifies defined contribution plans? (Points : 4) Investment risk is borne by the corporation sponsoring the plan. The plans are more complex than defined benefit plans. Present value factors are used to determine the annual contributions to the plan. The employer's obligation is satisfied by making the periodic contribution to the plan. Question 3.3. (TCO 2) Which is not a way of measuring the pension obligation? (Points : 4) Accumulated benefit obligation Vested benefit obligation Retiree benefit obligation Projected benefit obligation Question 4.4. (TCO 2) The PBO is increased by (Points : 4) Amortization of prior service cost. an increase in the actuary's assumed discount rate. an increase in the average life expectancy of employees. a return on plan assets that is lower than expected. Question 5.5. (TCO 3) Our company has a defined benefit pension plan. On December 31 (the end of the fiscal year), the company received the PBO report from the actuary. The following information was included in the report: ending PBO, $220,000; benefits paid to retirees, $20,000; interest cost, $14,400. The discount rate applied by the actuary was 8%. Which was the beginning PBO? (Points : 4) $180,000 $200,000 $214,400
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ACCT 312 DeVry Entire Course

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