Using a 21 percent rate:Compute the deferred tax asset or deferred tax liability (if any) from a transaction resulting in a $31,000 temporary excess of book income over taxable income.Compute the deferred tax asset or deferred tax liability (if any) from a transaction resulting in an $18,400 permanent excess of book income over taxable income.Compute the deferred tax asset or deferred tax liability (if any) from a transaction resulting in a $55,000 temporary excess of taxable income over book income.

Question

05-03-2021
Business

Answered

Find the best answers to your questions at Westonci.ca, where experts and enthusiasts provide accurate, reliable information. Explore comprehensive solutions to your questions from a wide range of professionals on our user-friendly platform. Get quick and reliable solutions to your questions from a community of experienced experts on our platform.

Using a 21 percent rate:Compute the deferred tax asset or deferred tax liability (if any) from a transaction resulting in a $31,000 temporary excess of book income over taxable income.Compute the deferred tax asset or deferred tax liability (if any) from a transaction resulting in an $18,400 permanent excess of book income over taxable income.Compute the deferred tax asset or deferred tax liability (if any) from a transaction resulting in a $55,000 temporary excess of taxable income over book income.

Sagot :

Thanks for using our platform. We're always here to provide accurate and up-to-date answers to all your queries. We appreciate your visit. Our platform is always here to offer accurate and reliable answers. Return anytime. Thank you for choosing Westonci.ca as your information source. We look forward to your next visit.

How can I use the quote on social media for free; Education is not the learning of facts, but the training of the mind to think! Albert Einstein

Imagine that you need to investigate opinions of people in your school about using social media. What are two primary and two secondary sources that you can use

Which best describes why making political allies is a key strategy for lobbyists? It reduces competition between opposing lobbyists. It enables multiple issues

Which of the following most clearly represents an illegal termination of employment? a. A builder fires one of his carpenters for showing up late to work, witho

Describe two situations in which mantle rock can melt without an increase in temperature. How do these magma generating mechanisms relate to place tectonics

Which group was typically very poorly paid and suffered from prejudice and nativism? OA. Farmers B. Blacks and native Americans C. Immigrants D. Sharecroppers

change the following sentence into passive voice - will you tell her the truth

Suppose that the grades of Business Mathematics and Statistic module is modeled well by a normal probability distribution with mean (212) and standard deviation

If I write too much for an exam answer, do I get downgraded?

Choose the element that has the larger atomic radius: francium or sodium.

Tundexi Tundexi · Answer 1 · 2021-03-07T19:34:34-05:00

Tundexi Tundexi

07-03-2021

Answer:

A) 21% of $31,000 excess of book income over taxable income = $6,510 deferred tax liability.

B) There is no deferred tax asset or liability from permanent book/tax difference.

C) Deferred tax asset or deferred tax liability from a transaction resulting in a $55,000 temporary excess of taxable income over book income: 21% of $55,000 excess of taxable income over book income = $11,550 deferred tax asset.

Answer Link

Sagot :

Other Questions