Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. pension expense is recorded for financial statemen

Pension expense is recorded for financial statements as accrued, but for income tax as paid....

70.2K

Verified Solution

Question

Accounting

Pension expense is recorded for financial statements as accrued, but for income tax as paid. If Company Z accrued $200,000 in Pension Expense in 2017, but paid $150,000 contributions for the year, how would this be reflected in the schedule to calculate deferred taxes?

a. as $50,000 future deductible, and subtracted from 2017 financial income.

b. as $50,000 future taxable, and subtracted from 2017 financial income.

c. as $50,000 future taxable, and added to 2017 financial income.

d. as $50,000 future deductible, and added to 2017 financial income.

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students