Question

In: Accounting

Answer the following questions using the annual report of Colgate in Appendix A. Required: a. For...

Answer the following questions using the annual report of Colgate in Appendix A. Required: a. For 2009, 2010, and 2011 identify Colgate’s (1) tax payment/obligation if it paid the statutory tax rate, (2) tax provision made in the books, and (3) the actual tax payment/obligation. Broadly quantify how Colgate’s statutory tax payment differs from its actual tax payment. Also explain why these differences occur. b. What is Colgate’s effective tax rate for each of the three years? Why is it different from its statutory tax rate? Explain at least one of these differences in detail. c. What is Colgate’s tax provision? Why is it different from its tax obligation/payment? d. You are in the process of forecasting Colgate’s income for the next year. What tax rate would you apply to your forecast and why? (Come up with a rate if possible.) e. Examine Colgate’s deferred tax assets and liabilities. Explain why they arise in general. Provide a detailed explanation of how at least two of the deferred assets/liabilities arise and “guess” at the approximate duration over which these assets/liabilities are expected to reverse. f. Examine the “movement” in the deferred tax assets/liabilities between 2011 and 2010 and explain the major changes.

Solutions

Expert Solution


Related Solutions

Using the Annual Report of Apple answer the following questions in the Discussion: HERE IS THE...
Using the Annual Report of Apple answer the following questions in the Discussion: HERE IS THE LINK TO THE REPORT... http://investor.apple.com/secfiling.cfm?filingid=1628280-16-20309&cik=320193 How much was the company's long-term debt at year end? Compute the company's debt to equity ratio at year end. How does it compare to the industry? What does this tell you about the company?
Using the Annual Report of your selected company, answer the following questions in the Discussion:
LiabilitiesUsing the Annual Report of your selected company, answer the following questions in the Discussion:What is the breakdown of the company's current liabilities at year end?Calculate the company's times-interest-earned ratio for the year-end. What does this tell you about the company?How much was the company's long-term debt at year end?Compute the company's debt to equity ratio at year-end. How does it compare to the industry? What does this tell you about the company?
Using the Annual Report of your selected company answer the following questions in the discussion: Did...
Using the Annual Report of your selected company answer the following questions in the discussion: Did your company have any preferred stock at year-end? How much of the company's common stock was outstanding at year end? Did the company pay any cash dividends during the year? Compute the basic earnings per share for the company. What method does the company use to report net cash flows from operating activities? How can you tell? What does this evaluation tell you about...
McDonald's Corp. Using the Annual Report of your selected company answer the following questions in the...
McDonald's Corp. Using the Annual Report of your selected company answer the following questions in the Discussion: What is the breakdown of the company's current liabilities at year end? Calculate the company's times-interest-earned ratio for the year end. What does this tell you about the company? How much was the company's long-term debt at year end? Compute the company's debt to equity ratio at year end. How does it compare to the industry? What does this tell you about the...
McDonald's Corp. Using the Annual Report of your selected company answer the following questions in the...
McDonald's Corp. Using the Annual Report of your selected company answer the following questions in the Discussion: What is the breakdown of the company's current liabilities at year end? Calculate the company's times-interest-earned ratio for the year end. What does this tell you about the company? How much was the company's long-term debt at year end? Compute the company's debt to equity ratio at year end. How does it compare to the industry? What does this tell you about the...
Refer to Eli Lilly’s 2012 annual report to answer the following questions. The 2012 annual report...
Refer to Eli Lilly’s 2012 annual report to answer the following questions. The 2012 annual report of Eli Lilly & Company can be found here: http://www.sec.gov/Archives/edgar/data/59478/000005947813000007/lly-20121231x10k.htm How much of the 2012 accounts receivable balance does the company expect to collect? What is the percentage of “other receivables” to total current assets at the end of 2012? Round to the nearest whole percentage. What is included in the “other receivables” balance?
Using the Telstra Annual Report 2019 answer the following questions; At 30 June 2019, what portion...
Using the Telstra Annual Report 2019 answer the following questions; At 30 June 2019, what portion of the total assets is made up of intangible assets? (express your answer as a percentage, to 2 decimal places).    What is the amount of the impairment loss/ expenses included in the financial reports (ignore any reversals)? Which assets do the recognised impairment amounts relate to, and why does the company recognise these impairment losses/ expenses?      Identify whether your company has revalued...
2–1. Using the Comprehensive Annual Financial Report obtained for Exercise 1–1, answer the following questions: a....
2–1. Using the Comprehensive Annual Financial Report obtained for Exercise 1–1, answer the following questions: a. Compare the items discussed in the MD&A in your CAFR with the list of items in this chapter. Which topics listed in this chapter are not in your CAFR? Which topics are in your CAFR that are not listed in this chapter? Do you think your CAFR has a reasonably complete discussion? b. From the MD&A in your report, write a short summary of...
Using the below sensitivity report, answer the following questions: SENSITIVITY REPORT ANALYSIS PROBLEM
Using the below sensitivity report, answer the following questions:SENSITIVITY REPORT ANALYSIS PROBLEM  a. If this is a LP product mix problem report, how many units of each product should be produced?b. If one unit of French is force produced, what will happen to the Objective Function value?c. The Caribbean’s Objective Coefficient is increased to 80. How will the new Objective Function value be determined? d. Which constraints are binding?e. If Finishing is decreased by one unit, how will the Objective...
Refer to the 2017 annual report of Woolworth on its website, and answer the following questions...
Refer to the 2017 annual report of Woolworth on its website, and answer the following questions using the consolidated income statement and balance sheet/ statement of financial position and notes to the consolidated financial statements. The Woolworth income statement shows a deduction (in brackets) for income tax expense. Would this expense item be seen in the income statement of a partnership? Explain your answer. In the statement of changes in equity regarding retained earnings, how is the total profit avail­able...
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT