At December 31, 2007, Next Generation Inc. had a deferred tax asset of $35,000. At December 31,

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At December 31, 2007, Next Generation Inc. had a deferred tax asset of $35,000. At December 31, 2008, the deferred tax asset is $59,000. The corporation’s 2008 current tax expense is $61,000. What amount should Next Generation report as total 2008 tax expense?

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Intermediate Accounting principles and analysis

ISBN: 978-0471737933

2nd Edition

Authors: Terry d. Warfield, jerry j. weygandt, Donald e. kieso

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