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HYPERLINK"http://www.wordwendang.com"http://www.wordwendang.com更多相关文档免费下载请登录:HYPERLINK"http://www.wordwendang.com"http://www.wordwendang.com-中文word文档库PracticeExam,Chapters16-18本文档由【HYPERLINK"http://www.wordwendang.com"中文word文档库】HYPERLINK"http://www.wordwendang.com"www.wordwendang.com提供，转载分发敬请保留本信息；HYPERLINK"http://www.wordwendang.com"中文word文档库免费提供海量范文、教育、学习、政策、报告和经济类word文档。<ahref='http://www.wordwendang.com/'>word文档</a>ProblemIPinderImplementssometimessellsproductsonaninstallmentbasis.Inthosecases,Pinderrecognizesinstallmentincomeforfinancialreportingpurposesintheyearofthesale.However,fortaxpurposes,installmentincomeisreportedbytheinstallmentmethod.Installmentincomein2011was$36million.Pinderexpectstocollectthisamountoverthenextthreeyearsintheamountsof$9million,$15million,and$12million,respectively.Pinder’staxrateis30%.However,duetoanenactedlaw,itisscheduledtobecome40%in2013.Pinder’spretaxaccountingincomefor2011was$48.6million,includinginterestrevenueof$600,000frommunicipalbondsitholdsasaninvestment.Therewerenootherdifferencesbetweenaccountingincomeandtaxableincome.Required:1.Whatwas2011incometaxexpenseforPinder?PreparetheappropriatejournalentrytorecordPinder’s2011incometaxes.ShowCalculations.2.WhatisPinder’s2011netincome?ProblemIIRandMedicalhasadefinedbenefitpensionforwhichthefollowingpension-relateddatawereavailableonDecember31,2011(theendofthecompany’sfiscalperiod):Projectedbenefitobligation(PBO):Balance,January1,2011$1,800,000Servicecost369,000Interestcost,discountrate,10%180,000Losses(gains)duetochangesinactuarialassumptionsin20110Pensionbenefitspaid(189,000)Balance,December31,2011$2,160,000Accumulatedbenefitsobligation,Dec.31,2011$1,890,000Planassets:Balance,January1,2011$1,350,000Actualreturnonplanassets135,000(Expectedreturnonplanassets,$120,000)Contributions450,000Pensionbenefitspaid(189,000)Balance,December31,2011$1,746,000January1,2011,bal
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