At December 31, 20×1, a company has four temporary differences. An analysis of these reveals the followings:
The tax rate for all years is 40%. Assume that the company reports pretax financial income at $1,000,000 for 20×1. The installment receivable collectible in 20×3 is classified as non-current assets. The company made estimated tax payments during 20×1 of $50,000.
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Fill in the blanks numbered from 1 ~ 10.
<Income statement for 20×1>
Pretax financial income 1.
Current tax 2.
Deferred tax 3.
Net income 4.
Effective tax rate 5.
<Balance sheet for 20×1>
DTA DTL
Current 6. 7.
Non-current 8. 9.
Income tax payable 10.
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