Four independent situations are described below. Each involves future deductible amounts and/or future taxable amounts produced...

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Four independent situations are described below. Each involves future deductible amounts and/or future taxable amounts produc

Balance(s) at beginning of the year: Deferred tax asset Deferred tax liability The enacted tax rate is 25% Required: For each

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Answer 1

Answer #1

A D 2 74 F 4 E 3 891 89 5 1 2 a 3 b 4 c 5 d 125 B C 1 payable 41 asset - balance asset change 12 liability liability - expens Γ Α B E F 1 2 a Income tax payable currently 1=164*25% l=296*25% 3 b |Deferred tax asset - balance 1=16*25% 4. c Deferred tax

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