wiley week 4 bay

Question 2

The pretax financial income (or loss) figures for Synergetics Company are as follows.
2008 $170,000
2009 270,400
2010 83,000
2011 (170,000 )
2012 (386,400 )
2013 139,700
2014 111,200

Pretax financial income (or loss) and taxable income (loss) were the same for all years involved. Assume a 40% tax rate for 2008 and 2009 and a 35% tax rate for the remaining years.

Prepare the journal entries for the years 2010 to 2014 to record income tax expense and the effects of the net operating loss carrybacks, and carryforwards, assuming Synergetics Company uses the carryback provision. All income and losses relate to normal operations. (In recording the benefits of a loss carryforward, assume that no valuation account is deemed necessary.) (Credit account titles are automatically indented when amount is entered. Do not indent manually.)
Account Titles and Explanation Debit Credit
2010
2011
2012
(To record carryback.)  
(To record carryforward.)  
2013
2014
Show List of Accounts

Question 2
Allowance to Reduce Deferred Tax Asset to Expected Realizable Value
Benefit Due to Loss Carryback
Benefit Due to Loss Carryforward
Deferred Tax Asset
Deferred Tax Liability
Income Tax Expense
Income Taxes Payable
Income Tax Refund Receivable
Question 4

The following information has been obtained for the Gocker Corporation.
1. Prior to 2012, taxable income and pretax financial income were identical.
2. Pretax financial income is $1,733,800 in 2012 and $1,447,300 in 2013.
3. On January 1, 2012, equipment costing $1,368,000 is purchased. It is to be depreciated on a straightline basis over 5 years for tax purposes and over 8 years for financial reporting purposes. (Hint: Use the half-year convention for tax purposes, as discussed in Appendix 11A.)
4. Interest of $69,600 was earned on tax-exempt municipal obligations in 2013.
5. Included in 2013 pretax financial income is an extraordinary gain of $204,200, which is fully taxable.
6. The tax rate is 38% for all periods.
7. Taxable income is expected in all future years.
(a)
Compute taxable income and income taxes payable for 2013.
Taxable income $
Income taxes payable $  
Show List of Accounts
Question 4
Allowance to Reduce Deferred Tax Asset to Expected Realizable Value
Benefit Due to Loss Carryback
Benefit Due to Loss Carryforward
Deferred Tax Asset
Deferred Tax Liability
Income Tax Expense
Income Taxes Payable
Income Tax Refund Receivable

If you are able to do these two questions on an Excel Spreadsheet that would be great???