Homework Answers
Solution:
2018 loss carryforward = Net operating loss of 2018 - Loss carry back to 2017 = $518,000 - $341,000 = $177,000
Deferred tax assets to be reported in 2018 balance sheet for loss carry forward = $177,000 * 38% = $67,260
Hence first option is correct.
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2013
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2014
27,400
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2015
45,100
30
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2016
78,500
40
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2017
(196,400
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45
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2018
79,600
40
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2019
96,200
35
%
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2016–2019 were enacted in 2016.
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