Anugraham Corp. began operations in 2011 and reported accounting income of $275,000 for the year. Anugraham's CCA
Question:
Anugraham's CCA exceeded its book depreciation by $40,000. Anugraham's tax rate for 2011 and years thereafter is 35%.
In its December 31, 2011 balance sheet, what amount of future income tax liability should be reported?
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The 40000 reversing difference that occurs in the first fiscal year of Anugraham Corp results in ...View the full answer
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Related Book For 
Intermediate Accounting
ISBN: 978-0470161012
9th Canadian Edition, Volume 2
Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield.
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