Question

At December 31, 2011, Camille Corporation had an estimated warranty liability of $170,000 for accounting purposes and $0 for tax purposes. (The warranty costs are not deductible until they are paid.) The tax rate is 40%.
Calculate the amount that Camille should report as a future tax asset at December 31, 2011.


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  • CreatedAugust 23, 2015
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