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Isaac Inc. began operations in January 2013. For certain of its property sales, Isaac recognizes income in the period of sale for financial reporting purposes. However, for income tax purposes, Isaac recognizes income when it collects cash from the buyer�

01 / 10 / 2021 Assignment

This paper circulates around the core theme of Isaac Inc. began operations in January 2013. For certain of its property sales, Isaac recognizes income in the period of sale for financial reporting purposes. However, for income tax purposes, Isaac recognizes income when it collects cash from the buyer� together with its essential aspects. It has been reviewed and purchased by the majority of students thus, this paper is rated 4.8 out of 5 points by the students. In addition to this, the price of this paper commences from £ 99. To get this paper written from the scratch, order this assignment now. 100% confidential, 100% plagiarism-free.

Isaac Inc. began operations in January 2013. For certain of its property sales, Isaac recognizes income in the period of sale for financial reporting purposes. However, for income tax purposes, Isaac recognizes income when it collects cash from the buyer’s installment payments.

In 2013, Isaac had $600 million in sales of this type. Scheduled collections for these sales are as follows:

Assume that Isaac has a 30% income tax rate and that there were no other differences in income for financial statement and tax purposes.


Ignoring operating expenses, what deferred tax liability would Isaac report in its year-end 2013 balance sheet?



International House, 12 Constance Street, London, United Kingdom,
E16 2DQ

Company # 11483120

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