Question: Ion Corporation has income tax expense payable for book purposes of

Ion Corporation has income tax expense/payable for book purposes of $200,000 and $250,000 for tax purposes. Assume that Ion will only be able to use $30,000 of any deferred tax asset with the balance expiring. Determine the amount of Ion's deferred tax asset and valuation allowance.

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  • CreatedSeptember 09, 2015
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