The book basis of depreciable assets for Erwin Co. is $900,000, and the tax basis is $700,000

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The book basis of depreciable assets for Erwin Co. is $900,000, and the tax basis is $700,000 at the end of 2013. The enacted tax rate is 34% for all periods. Determine the amount of deferred taxes to be reported on the balance sheet at the end of 2013.

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Intermediate Accounting

ISBN: 978-0470587287

14th Edition

Authors: kieso, weygandt and warfield.

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