THIS IS YOUR THIRD REAL WORLD ASSIGNMENT, AND IS RELATIVELY STRAIGHT FORWARD. THIS EXERCISE WILL REQUIRE THAT YOU GO TO THE SEC WEBSITE, FIND A SPECIFIC COMPANY’S FILINGS, AND ANSWER THE FOLLOWING QUESTIONS:
THIS IS YOUR THIRD REAL WORLD ASSIGNMENT, AND IS RELATIVELY STRAIGHT FORWARD. THIS EXERCISE WILL REQUIRE THAT YOU GO TO THE SEC WEBSITE, FIND A SPECIFIC COMPANY’S FILINGS, AND ANSWER THE FOLLOWING QUESTIONS:
INSTRUCTIONS
Refer to the most recent 10-Ks (Year Ended in 2022) for Apple Inc. and Alphabet Inc.
NOTE: Some answers are numerical, fill-in the blanks. Please adjust all answers for the units, and include the ‘,’ separators (e.g., 11 million or 11,000 thousand should be entered as 11,000,000), if required.
1) Refer to Apple, Inc, “Consolidated Statements of Operations.”
For the year ended 2022, calculate the effective tax rate (Provision for Income Taxes / Income Before Provision for Income Taxes).
Enter your answer as a percentage, with one decimal place (you may ignore the % sign). For example, if your answer is 25%, enter 25.0 into the textbox.
2) Refer to Apple, Inc, “Notes to Consolidated Financial Statements.” (Note 5)
What was the “Total Deferred Tax Liabilities” balance for year-ended 2022?
Remember to adjust the amount presented for the units. If the column title has (in millions), then you need to add 000,000 to your answer.
e.g., Amount (In Millions) = 1
Your Answer = 1,000,000
NOTE: This may be presented as a negative number. Enter a positive number for your answer.
3) Refer to Apple, Inc, “Notes to Consolidated Financial Statements.” (Note 5)
What was the total Deferred Tax Asset balance for year-ended 2022 (pre-valuation allowance adjustment)?
Remember to adjust the amount presented for the units. If the column title has (in millions), then you need to add 000,000 to your answer.
e.g., Amount (In Millions) = 1
Your Answer = 1,000,000
4) Refer to Apple, Inc, “Notes to Consolidated Financial Statements.” (Note 5)
Under the subheading “Uncertain Tax Positions,” Apple refers to the uncertainty of tax audit outcomes (within the paragraph, after the table). How much could the gross unrecognized tax benefit decrease by in the next 12 months (after year-end)?
Remember to adjust the amount presented for the units. If the column title has (in millions), then you need to add 000,000 to your answer.
e.g., Amount (In Millions) = 1
Your Answer = 1,000,000
5) Refer to Alphabet Inc, “Consolidated Statements of Operations.”
For the year ended 2022, calculate the effective tax rate (Provision for Income Taxes / Income Before Income Taxes).
Enter your answer as a percentage, with one decimal place (you may ignore the % sign). For example, if your answer is 25%, enter 25.0 into the textbox.
6) Refer to Alphabet Inc, “Notes to Consolidated Financial Statements.” (Note 14)
What was the total Deferred Tax Liability balance for year-ended 2022?
Remember to adjust the amount presented for the units. If the column title has (in millions), then you need to add 000,000 to your answer.
e.g., Amount (In Millions) = 1
Your Answer = 1,000,000
NOTE: This may be presented as a negative number. Enter a positive number for your answer.
7) Refer to Alphabet Inc, “Notes to Consolidated Financial Statements.” (Note 14)
What was the total Deferred Tax Asset balance for year-ended 2022 (pre-valuation allowance adjustment)?
Remember to adjust the amount presented for the units. If the column title has (in millions), then you need to add 000,000 to your answer.
e.g., Amount (In Millions) = 1
Your Answer = 1,000,000
8) Refer to Alphabet Inc, “Notes to Consolidated Financial Statements.” (Note 14)
Under the subheading “Uncertain Tax Positions,” how much did Alphabet accrue in interest and penalties in the provision for income taxes for year ended 2022? (The sentence starts with “As of December 31, 2021 and 2022…”)
Remember to adjust the amount presented for the units. If the column title has (in millions), then you need to add 000,000 to your answer.
e.g., Amount (In Millions) = 1
Your Answer = 1,000,000
___________
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