Homework Answers
- type of change = change in tax rate is considered to be change in accounting estimate.
- journal entry:
| date | account title |
debit (in millions) |
credit (in millions) |
|---|---|---|---|
|
Dec 31, 2018 |
income tax expense deferred tax liability ($20 x 10%) income tax payable ($30 x 40%) |
$10 $2 . |
. . $12 |
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