At December 31, 2012, Appaloosa Corporation had a deferred tax liability of $25,000. At December 31, 2013,

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At December 31, 2012, Appaloosa Corporation had a deferred tax liability of $25,000. At December 31, 2013, the deferred tax liability is $42,000. The corporation’s 2013 current tax expense is $48,000. What amount should Appaloosa report as total 2013 income tax expense?

Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may...
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Intermediate Accounting

ISBN: 978-0470587287

14th Edition

Authors: kieso, weygandt and warfield.

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