Вы находитесь на странице: 1из 4

Instructions for the Microsoft Excel Templates

Be advised, the worksheet and workbooks are not protected.

Extensive detail and information is contained within the manual.

Striking the "F1" key or following the path "Windows>Excel Help" will invoke the Office Assistant and bring up one of
several help menus.

You should enter your name, course ID, and date name into the cells at the top of the page.

Each page contains a page footer with a Page # of Page ## as well as time and date to assist in assembly of multiple

Each worksheet contains the identification of the problem or exercise.

All formatting should have been accomplished to provide satisfactory presentation. See the text for additional assistance
in formatting.

There should be no need to insert columns or rows into the workbooks.

If more than one page is required by the problem, the page breaks are preset.

In general, the yellow highlighted cells are the cells which work and effort should be presented.

Place the proper account title in the cell where the word "Account title" appears on the template.

Place the value in the cell where the word "Value" or "Amount" appears on the template. A formula may be placed in
some of these cells.

Write a formula into cells where the word "Formula" appears. In these cells, an amount calculated can be entered. An
amount can be placed in these cells.

Place the explanation for the entry in the cell where the word "Text Explanation" appears on the template.

Insert the account number where "Acct Nbr" appears on the template during posting.

Insert the journal reference where "JOURN #" appears on the template during posting.

Insert the title in the cell where "TITLE" appears on the template.

The print area is defined to fit onto 8 1/2" X 11" sheets in portrait or landscape mode as required.

The gray filled cells define the perimeter of the problem and the print area.

The problem is formatted for whole dollars with comma separations (no cents) except where required.

The display may have "Freeze Pane" invoked so column titles remain visible during data entry.

Negative values may be shown as ($400) or -$400.

Instructions, Page 1 of 4, 02/04/2011, 07:55:50

Consider using "Split" panes to assist in copy and paste of data.

Much of the exercises and problems can have data entered by the "look to" or "=A34" type formula where cell A34
contains the data to be entered. This precludes typing and data entry errors.

Instructions, Page 2 of 4, 02/04/2011, 07:55:50

Problem: P19-1, Three Differences, No Beginning Deferred
Taxes, Multiple Rates
The following information is available for Remmers Corporation for 2010.
1. Depreciation reported on the tax return exceeded depreciation reported on the income statement by
$120,000 This difference will reverse in equal amounts of $30,000 over the years
2. Interest received on municipal bonds was $10,000
3. Rent collected in advance on January 1, 2010, totaled $60,000 for a 3-year period. Of this
amount, $40,000 was reported as unearned at December 31, for book purposes.
4. The tax rates are 40% for 2010 and 35% for 2011 and subsequent years.
5. Income taxes of $320,000 are due per the tax return for 2010.
6. No deferred taxes existed at the beginning of 2010.

(a) Compute taxable income for 2010.

Use this area for calculations

Use this area for calculations
Use this area for calculations
Use this area for calculations

(b) Compute pretax financial income for 2010.

Taxable income from part (a) Amount

Excess depreciation Amount
Municipal interest Amount
Unearned rent Amount
Pretax financial income for 2010 Formula

(c) Prepare the journal entries to record income tax expense, deferred income taxes, and income taxes
payable for 2010 and 2011. Assume taxable income was $980,000 in 2011.

2010 Account Title Formula

Account Title Amount
Account Title Amount
Account Title Amount

2011 Account Title Formula

Account Title Formula
Account Title Formula
Account Title Formula

Problem 19-1, Page 3 of 4, 02/04/2011, 07:55:50

(d) Prepare the income tax expense section of the income statement for 2010, beginning with "Income
before income taxes."

Income before income taxes Amount

Income tax expense
Current Amount
Deferred Amount Formula
Net income Formula

Problem 19-1, Page 4 of 4, 02/04/2011, 07:55:50