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agt; assuming the Walmart had no significant permanent differences between book income and taxable income, did income before taxes for financial
a> assuming the Walmart had no significant permanent differences between book income and taxable income, did income before taxes for financial reporting exceed or fall short of taxable income for the year ending January 21, 2016(hereafter, fiscal 2015)? explain
b>assuming all current taxes are paid in cash, will the adjustment to net income for deferred taxes to compute cash flow from operations tin the statement of cash flows result in an addition or subtraction for fiscal 2015?
c>walmart reports deferred revenue for sales of gift certificate and for Sam's club membership fees. These amounts are taxed when collected, but not recognized in financial reporting income until tendered at a store. why does the tax effect of differed revenue appear as deferred tax asset ?
d> walmart recognizes a valuation allowance on its deferred tax assets to reflect net operating losses of consolidated foreign subsidiaries. The valuation allowance decreased over the last year. what effect does this have on net income in the most recent year( fiscal 2015)?
