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s Mailings Review View ?.ng :--.-.._ ,?*E ? 91 AaBbCcDdEe AaBbCcDdEe AaBbCcD Normal No SpacingHeading 1 2017 annual report for Berkshire Hathaway Key terms, if you need to know more Text PowerPoint, if you want to know more . Terms you have Questions to know Page Your Comments (optional) Amount relate to Berkshire Hathaway in millions S number accounting income millions, and indicate page number) ncome tax .Amount it expense Income tax benefit Net Income 4. Amount applicable applicable this is not applicable. rate ate effective tax rate for 2016. Show numerator and denominator tatu tory Tax second line on page 91 by the first line. What percentage do you get? Rate Taxes Paid (or 8.Look at note Owed) for the 12 period Income Tax 9. Look at the Payable beginning of note 16Explanation / Answer
Term you have to know Quenstion relate to berkshire hathwaye Amount (in millions $) page Number Pretax accounting income 1. amount $ 23,838 96.00 Income tax expense 2. amount $ - 96.00 income tax benefit 3. amount $ 21,515 96.00 Net income 4. amount $ 45,353 96.00 effective tax rate 5. explain why this is not applicable Since in current year company have tax benefits therefore we can not calculate effective tax rate. 6. calculate effective tax rate for 2016 = 27.45% = 9240/33667 statutory tax rate 7. divide the second line on page 91 by first line. What % do you get? Not available in question taxes paid (or owed) for the period 8. look at note 12 $ 3,286 112.00 income tax payable 9. look at note 16 $ (129) 121.00 deferred tax assets 10. you will not find DTA on balance sheet itself. Look at note 16 $ 8,386 122.00 Deferred tax liability 11. what is the gross DTL in the notes? $ 64,568 122.00 12. what is the net DTL on the balance sheet? $ 56,182 122.00
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