Week 2 Writing Assignment - Part 2

Sheet1

A.	Florida Chocolate Inc. current income tax expense or benefit for 20xx
	Income before income taxes
	Interest from municipal bonds
	Nondeductible stock compensation
	Nondeductible fines
	Book equivalent of taxable income
	Net change in cumulative TTD
	Net change in cumulative DTD
	Net change cumulative TD
	Taxable income
	x 21%
	Current tax expense
B.	Chocolate Florida Inc. deferred income tax expense or benefit for 20xx
	Ending balance in TTD
	Beginning balance in TTD
	Increase in deferred tax liability
	Ending balance in DTD
	Beginning balance in TTD
	Increase in deferred tax asset
	Deferred tax expense
	Deferred tax benefit
	Net deferred tax expense
	Tax provision
	Current income tax expense
	Deferred income tax expense
	Total income tax provision
	Check
	Book equivalent of taxable income
	x 21%
	Total income tax provision
C.	Reconciliation of Chocolate Florida Inc. total income tax provision with its hypothetical income tax expense
	Reconciliation of Effective Tax Rate				Dollars		Percent
	Provision at 21%
	Tax exempt interest
	Nondeductible stock compensation
	Nondeductible fines
	Provision