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    - Flynn Inc. had two temporary differences in 2019 that resulted in deferred tax assets and liabilities. - The company recorded a journal entry at the end of 2019 to recognize deferred income tax expense of $212,680, with offsets to deferred tax assets of $12,920, income taxes payable of $136,000, and deferred tax liabilities of $89,600. - The deferred tax assets and liabilities would be classified on the statement of financial position as either current or non-current based on the periods the related temporary differences are expected to reverse.

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    - Flynn Inc. had two temporary differences in 2019 that resulted in deferred tax assets and liabilities. - The company recorded a journal entry at the end of 2019 to recognize deferred income tax expense of $212,680, with offsets to deferred tax assets of $12,920, income taxes payable of $136,000, and deferred tax liabilities of $89,600. - The deferred tax assets and liabilities would be classified on the statement of financial position as either current or non-current based on the periods the related temporary differences are expected to reverse.

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    624 views6 pages

    A1C019118 Jurati Latihan10

    Uploaded by

    jurati
    - Flynn Inc. had two temporary differences in 2019 that resulted in deferred tax assets and liabilities. - The company recorded a journal entry at the end of 2019 to recognize deferred income tax expense of $212,680, with offsets to deferred tax assets of $12,920, income taxes payable of $136,000, and deferred tax liabilities of $89,600. - The deferred tax assets and liabilities would be classified on the statement of financial position as either current or non-current based on the periods the related temporary differences are expected to reverse.

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    of 6

    Nama : Jurati

    NIM : A1C019118

    Kelas : C S1 Akuntansi

    LATIHAN 10

    1. E19.14 (LO1) (Deferred Tax Asset) Callaway SA has a deferred tax asset account with a
    balance of €150,000 at the end of 2018 due to a single cumulative temporary difference of
    €375,000. At the end of 2019, this same temporary difference has increased to a cumulative
    amount of €500,000. Taxable income for 2019 is €850,000. The tax rate is 40% for all years.
    Instructions
    a. Record income tax expense, deferred income taxes, and income taxes payable for
    2019, assuming that it is probable that the deferred tax asset will be realized.
    b. Assuming that it is probable that €30,000 of the deferred tax asset will not be
    realized, prepare the journal entry at the end of 2019 to recognize this probability.
    Jawab :

    a. Beban pajak penghasilan €290,000


    Aset pajak tangguhan €50,000
    Pajak penghasilan terutang €340,000

    Penghasilan kena pajak €850,000


    Aset pajak tangguhan 40%
    Pajak penghasilan terutang €340,000

    Cumulative future taxable Deferred Tax


    Date Tax rate
    (deductible) amounts (Asset) Liability
    12/31/2019 €500,000 40% €200,000

    Aset pajak tangguhan akhir tahun 2019 €200,000


    Aset pajak tangguhan awal tahun 2019 €150,000
    Manfaat pajak tangguhan tahun 2019 (peningkatan akun aset
    pajak tangguhan) (€50,000)
    Beban pajak saat ini tahun 2019 (pajak penghasilan terutang) €340,000
    Pajak penghasilan terutang tahun 2019 €290,000

    b Beban pajak penghasilan €30,000


    .
    Penyisihan untuk mengurangi aset pajak tangguhan
    menjadi nilai realisasi yang diharapkan €30,000

    2. E19.16 (LO1, 2, 4) (Deferred Tax Liability, Change in Tax Rate, Prepare Section of Income
    Statement) Sharrer Inc.'s only temporary difference at the beginning and end of 2019 is
    caused by a $2 million deferred gain for tax purposes for an installment sale of a plant asset,
    and the related receivable is due in equal installments in 2020 and 2021. The related deferred
    tax liability at the beginning of the year is $800,000. In the third quarter of 2019, a new tax
    rate of 34% is enacted into law and is scheduled to become effective for 2021. Taxable
    income for 2019 is $5,000,000, and taxable income is expected in all future years.
    Instructions
    a. Determine the amount reported as a deferred tax liability at the end of 2019. Indicate
    proper classification(s).
    b. Prepare the journal entry (if any) necessary to adjust the deferred tax liability when
    the new tax rate is enacted into law.
    c. Draft the income tax expense portion of the income statement for 2019. Begin with
    the line “Income before income taxes.” Assume no permanent differences exist.

    Jawab :

    a. Tahun mendatang
    Total
    2020 2021
    Jumlah kena pajak di masa depan $1,000,000 $1,000,000 $2,000,000
    Tarif pajak 40%* 34%
    Kewajiban pajak tangguhan $400,000 $340,000 $740,000
    *Tarif pajak sebelumnya sebesar 40% dihitung dengan membagi saldo akun kewajiban pajak tangguhan
    sebesar $800,000 pada tanggal 1 Januari 2019 dengan perbedaan temporer kumulatif sebesar
    $2,000,000 pada tanggal yang sama.

    Menghasilkan pajak tangguhan


    Akun neraca terkait Klasifikasi
    Aset Kewajiban
    $400,000 Piutang angsuran Aset lancar
    $340,000 Piutang angsuran Aset tidak lancar*
    *Setengah dari piutang angsuran diklasifikasikan sebagai aset lancar dan setengahnya lagi tidak lancar.
    Oleh karena itu, kewajiban pajak tangguhan terkait porsi piutang yang akan jatuh tempo pada tahun
    2020 adalah lancar dan saldo kewajiban pajak tangguhan terkait porsi taguhan yang akan jatuh tempo
    pada tahun 2021 tidak lancar.

    b. Kewajiban pajak yang ditangguhkan $60,000


    Beban pajak penghasilan $60,000

    Tidak ada perubahan selama 2019 pada perbedaan temporer kumulatif. Seluruh
    perubahan dalam akun kewajiban pajak tangguhan disebabkan oleh perubahan tarif
    pajak yang berlaku. Perubahan itu dihitung sebagai berikut :

    Kewajiban pajak tangguhan akhir tahun 2019 $740,000


    Kewajiban pajak tangguhan awal tahun 2019 $800,000
    Manfaat pajak tangguhan tahun 2019 karena perubahan dalam
    tarif pajak yang berlaku ($60,000)

    c. Pendapatan sebelum pajak penghasilan $5,000,000


    Beban pajak penghasilan
    Beban pajak saat ini $2,000,000*
    Penyesuaian karena perubahan tarif pajak ($60,000) $1,940,000
    Laba bersih $3,060,000
    *Penghasilan kena pajak tahun 2019 $5,000,000
    Tarif pajak tahun 2019 40%
    Beban pajak saat ini $2,000,000

    3. E19.21 (LO1, 2, 4) (Two Temporary Differences, Multiple Rates, Future Taxable Income)
    Flynn Inc. has two temporary differences at the end of 2019. The first difference stems from
    installment sales, and the second one results from the accrual of a loss contingency. Flynn's
    accounting department has developed a schedule of future taxable and deductible amounts
    related to these temporary differences as follows.

    2020 2021 2022 2023


    Taxable amounts $40,000 $50,000 $60,000 $90,000
    Deductible amounts (15,000) (19,000)
    $40,000 $35,000 $41,000 $90,000

    As of the beginning of 2019, the enacted tax rate is 34% for 2019 and 2020, and 38% for
    2021–2024. At the beginning of 2019, the company had no deferred income taxes on its
    statement of financial position. Taxable income for 2019 is $400,000. Taxable income is
    expected in all future years.
    Instructions
    a. Prepare the journal entry to record income tax expense, deferred income taxes, and
    income taxes payable for 2019.
    b. Indicate how deferred income taxes would be classified on the statement of financial
    position at the end of 2019.

    Jawab :

    a Beban pajak penghasilan $212,680


    .
    Aset pajak tangguhan $12,920
    Pajak penghasilan terutang $136,000
    Kewajiban pajak tangguhan $89,600

    Penghasilan kena pajak $400,000


    Tarif pajak yang berlaku 34%
    Pajak penghasilan terutang $136,000
    Jumlah kena Pajak tangguhan
    Perbedaan Tarif
    pajak di Klasifikasi
    sementara pajak Aset Kewajiban
    masa depan
    Penjualan
    angsuran $40,000 34% $13,600 Lancar
    Penjualan
    angsuran $200,000 38% $76,000 Lancar
    Akrual rugi ($34,000) 38% ($12,920) Tidak lancar
    Total $206,000 ($12,920) $89,600
    a. $50,000 + $60,000 + $90,000 = $200,000
    b. $15,000 + $19,000 = $34,000

    Kewajiban pajak tangguhan akhir tahun 2019 $89,600


    Kewajiban pajak tangguhan awal tahun 2019 0
    Beban pajak tangguhan tahun 2019 $89,600

    Aset pajak tangguhan akhir tahun 2019 $12,920


    Aset pajak tangguhan awal tahun 2019 0
    Manfaat pajak tangguhan tahun 2019 ($12,920)

    Beban pajak tangguhan tahun 2019 $89,600


    Manfaat pajak tangguhan tahun 2019 ($12,920)
    Beban pajak tangguhan bersih tahun 2019 $76,680
    Beban pajak kini tahun 2019 (pajak penghasilan terutang) $136,000
    Beban pajak penghasilan tahun 2019 $212,680

    b. Aset lainnya (tidak lancar)


    Aset pajak tangguhan $12,920

    Kewajiban lancar
    Kewajiban pajak tangguhan $89,600
    Aset pajak tangguhan tidak lancar karena kewajiban terkait tidak lancar. Kewajiban dari
    akrual kontinjensi kerugian tidak lancar karena diharapkan akan diselesaikan dalam
    beberapa tahun setelah tahun tersebut segera setelah tanggal neraca.

    Alterntifnya adalah dengan menyatakan bahwa kemungkinan kerugian harus


    diklasifikasikan sebagai lancar karena siklus operasinya adalah 4 tahun. Dalam hal ini,
    aset pajak tangguhan yang terkait dengan kontinjensi kerugian akan dilaporkan sebagai
    aset lancar.

    Liabilitas pajak tangguhan adalah lancar karena diasumsikan bahwa piutang angsuran
    terkait diklasifikasikan sebagai aset lancar. Piutang angsuran diklasifikasikan lancar
    ketika entitas menjual dengan cara angsuransebagai praktik perdagangan. Jika
    menganggap piutang angsuran terkait dengan penjualan angsuran investasi dan oleh
    karena itu diklasifikasikan sebagai sebagian lancar dan sebagiannya lagi tidak lancar,
    maka $13,600 ($40,000 x 34%) dari kewajiban pajak tangguhan harus diklasifikasikan
    sebagai lancar dan $89,600 ($200,000 x 38%) harus diklasifikasikan sebagai tidak lancar.

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