学员提问：CFA FRA 问题
Longboat Inc. sold a luxury passenger boat from its inventory on December 31 for $2,000,000. It is estimated that Longboat will incur $100,000 in warranty expenses during its 5-year warranty period. Longboat’s tax rate is 30%. To account for the tax implications of the warranty obligation prior to incurring warranty expenses, Longboat should:
A) Record a deferred tax asset of $30,000
B) Record a deferred tax liability of $30,000
C) Make no entry until actual warranty expenses are incurred.
panda 老师回答于2年之前
解析：Warranty expense should be recorded when the inventory item covered by the warranty is sold. A deferred tax asset is created when warranty expenses accrued on the financial statements but are not deductible on the tax returns until the warranty claims are paid. The full amount of obligation, $100,000, is recorded as an expense, with a deferred tax asset of $30,000. Note that a deferred tax asset results when taxable income is more than pretax income and the difference is likely to reverse in future.
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